Hippo Holdings Inc. (NYSE:HIPO) Stock Has Average Target Price of $43.50

Hippo Holdings Inc. (NYSE:HIPO) has been assigned an average rating of “Moderate Buy” from the five brokerages that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $43.50.

Several analysts recently commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Hippo in a report on Thursday, October 29th. Zacks Research lowered shares of Hippo from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 2nd. Wall Street Zen upgraded shares of Hippo from a “hold” rating to a “buy” rating in a research report on Saturday, October 31st. Keefe, Bruyette & Woods lifted their target price on shares of Hippo from $35.00 to $37.00 and gave the company a “market perform” rating in a research note on Tuesday, November 3rd. Finally, B. Riley Financial restated a “buy” rating and issued a $50.00 target price (up from $41.50) on shares of Hippo in a research note on Friday, October 30th.

Hippo Price Performance

Shares of HIPO opened at $36.61 on Friday. The company has a market capitalization of $974.68 million, a price-to-earnings ratio of 30.26 and a beta of 1.60. Hippo has a fifty-two week low of $24.08 and a fifty-two week high of $39.39. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.96 and a quick ratio of 0.96. The business’s 50-day moving average is $34.01 and its 200-day moving average is $29.65.

Insider Transactions at Hippo

In related news, CEO Richard McCathron sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, October 9th. The stock was sold at an average price of $34.18, for a total value of $170,900.00. Following the completion of the sale, the chief executive officer owned 562,132 shares of the company’s stock, valued at approximately $19,213,671.76. The trade was a 0.88% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Torben Ostergaard sold 1,169 shares of the stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $35.03, for a total value of $40,950.07. Following the completion of the transaction, the chief executive officer owned 60,655 shares in the company, valued at $2,124,744.65. This represents a 1.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 12,338 shares of company stock valued at $411,577 over the last ninety days. Company insiders own 4.48% of the company’s stock.

Hedge Funds Weigh In On Hippo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ieq Capital LLC acquired a new stake in Hippo in the third quarter valued at approximately $1,795,000. State of Wyoming increased its stake in shares of Hippo by 164.0% during the 3rd quarter. State of Wyoming now owns 22,879 shares of the company’s stock worth $704,000 after purchasing an additional 14,213 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Hippo by 306.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,894 shares of the company’s stock worth $120,000 after purchasing an additional 2,935 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Hippo during the 3rd quarter worth $31,000. Finally, State Street Corp raised its holdings in shares of Hippo by 9.1% during the 2nd quarter. State Street Corp now owns 443,716 shares of the company’s stock valued at $12,539,000 after purchasing an additional 37,097 shares in the last quarter. Institutional investors own 43.01% of the company’s stock.

About Hippo

Hippo, Inc. is a technology-focused property and casualty insurance company that provides home insurance and related services in the United States. Its offerings include homeowners, condo, renters and landlord insurance, with coverage and availability varying by state. The company uses digital tools and property data to support insurance quotes, policy management and claims. Hippo also offers services focused on home protection and maintenance, including programs intended to help customers identify and address potential risks before they lead to damage.