Hippo Holdings Inc. (NYSE:HIPO) Receives Consensus Recommendation of “Buy” from Brokerages

Hippo Holdings Inc. (NYSE:HIPO) has been given a consensus recommendation of “Buy” by the seven research firms that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $40.50.

Several equities research analysts recently issued reports on the company. B. Riley Financial reiterated a “buy” rating and issued a $41.50 price objective (up from $38.00) on shares of Hippo in a report on Monday, August 3rd. Texas Capital raised shares of Hippo to a “strong-buy” rating in a research note on Tuesday, June 9th. Zacks Research upgraded Hippo from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Keefe, Bruyette & Woods lifted their price objective on shares of Hippo from $33.00 to $35.00 and gave the company a “market perform” rating in a report on Thursday, August 6th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Hippo in a research report on Friday, July 31st.

Insider Buying and Selling at Hippo

In other news, CEO Richard Mccathron sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $32.00, for a total transaction of $160,000.00. Following the transaction, the chief executive officer directly owned 580,433 shares in the company, valued at approximately $18,573,856. This trade represents a 0.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Torben Ostergaard sold 1,169 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $33.00, for a total value of $38,577.00. Following the sale, the chief executive officer directly owned 61,824 shares of the company’s stock, valued at approximately $2,040,192. This represents a 1.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 17,838 shares of company stock worth $517,933. 4.48% of the stock is owned by insiders.

Hedge Funds Weigh In On Hippo

A number of institutional investors have recently modified their holdings of the company. California State Teachers Retirement System boosted its holdings in shares of Hippo by 55,702.6% in the 2nd quarter. California State Teachers Retirement System now owns 540,727 shares of the company’s stock valued at $15,281,000 after purchasing an additional 539,758 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Hippo in the second quarter worth about $178,000. AWM Investment Company Inc. acquired a new stake in Hippo in the second quarter valued at approximately $2,826,000. BlackRock Inc. boosted its position in Hippo by 17.8% in the 2nd quarter. BlackRock Inc. now owns 1,498,306 shares of the company’s stock valued at $42,342,000 after buying an additional 226,533 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Hippo by 36.4% during the second quarter. Bank of New York Mellon Corp now owns 80,747 shares of the company’s stock valued at $2,282,000 after acquiring an additional 21,556 shares in the last quarter. Institutional investors and hedge funds own 43.01% of the company’s stock.

Hippo Trading Down 0.2%

HIPO stock opened at $33.13 on Monday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.10. Hippo has a 52-week low of $24.08 and a 52-week high of $38.98. The company’s 50-day simple moving average is $30.28 and its 200-day simple moving average is $27.95. The firm has a market cap of $874.30 million, a P/E ratio of 7.12 and a beta of 1.47.

Hippo (NYSE:HIPO) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.96. The business had revenue of $144.70 million during the quarter, compared to analysts’ expectations of $137.44 million. Hippo had a return on equity of 10.68% and a net margin of 23.92%. As a group, equities analysts forecast that Hippo will post 1.5 EPS for the current fiscal year.

About Hippo

Hippo Enterprises Inc is a technology-driven home insurance company that offers modernized homeowners insurance products through a digital-first platform. Leveraging data analytics, artificial intelligence and smart home devices, the company designs tailored coverage plans intended to streamline the underwriting process and deliver more comprehensive protection for homeowners. Hippo’s policies typically include standard dwelling coverage, personal property protection and liability insurance, along with optional add-ons such as water backup, home computer systems and equipment breakdown coverage.

Through its online portal and partner network of licensed insurance agents, Hippo provides policyholders with a range of services aimed at minimizing risk and preventing losses before they occur.