Hippo Holdings Inc. (NYSE:HIPO) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Hippo Holdings Inc. (NYSE:HIPO) has earned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $37.25.

HIPO has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods reduced their target price on Hippo from $34.00 to $33.00 and set a “market perform” rating on the stock in a report on Friday, March 6th. Zacks Research upgraded Hippo to a “hold” rating in a research note on Tuesday, March 3rd. Finally, Weiss Ratings upgraded Hippo from a “sell (d-)” rating to a “hold (c-)” rating in a report on Thursday, March 5th.

Hippo Stock Up 0.3%

Shares of HIPO opened at $25.93 on Friday. Hippo has a fifty-two week low of $19.92 and a fifty-two week high of $38.98. The company’s fifty day moving average is $28.20 and its two-hundred day moving average is $31.73. The firm has a market cap of $673.51 million, a PE ratio of 12.12 and a beta of 1.57. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.11.

Insider Buying and Selling

In related news, CEO Richard Mccathron sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $25.86, for a total value of $129,300.00. Following the transaction, the chief executive officer owned 615,650 shares in the company, valued at approximately $15,920,709. This trade represents a 0.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Torben Ostergaard sold 6,105 shares of Hippo stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $28.57, for a total transaction of $174,419.85. Following the transaction, the chief executive officer directly owned 46,694 shares in the company, valued at approximately $1,334,047.58. This trade represents a 11.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 21,705 shares of company stock valued at $625,284. Corporate insiders own 10.80% of the company’s stock.

Institutional Trading of Hippo

A number of institutional investors have recently added to or reduced their stakes in the business. Hood River Capital Management LLC purchased a new position in Hippo in the second quarter valued at about $13,665,000. Stoic Point Capital Management LLC acquired a new position in shares of Hippo during the fourth quarter worth about $7,490,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Hippo during the third quarter worth about $5,842,000. Geode Capital Management LLC boosted its position in shares of Hippo by 24.1% in the fourth quarter. Geode Capital Management LLC now owns 557,066 shares of the company’s stock worth $16,760,000 after buying an additional 108,359 shares during the period. Finally, Sei Investments Co. purchased a new stake in shares of Hippo in the second quarter worth about $2,810,000. 43.01% of the stock is owned by hedge funds and other institutional investors.

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.