Hippo Holdings Inc. (NYSE:HIPO) Stock Has Consensus Price Target of $40.50 According to Analysts

Hippo Holdings Inc. (NYSE:HIPO) has been assigned an average rating of “Moderate Buy” from the five brokerages that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $38.25.

HIPO has been the topic of several research analyst reports. B. Riley Financial reiterated a “buy” rating and set a $41.50 price target (up from $38.00) on shares of Hippo in a research report on Monday, August 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Hippo in a report on Friday, July 31st. Keefe, Bruyette & Woods upped their price objective on Hippo from $33.00 to $35.00 and gave the company a “market perform” rating in a report on Thursday, August 6th. Finally, Zacks Research cut Hippo from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 2nd.

Hippo Price Performance

NYSE HIPO opened at $35.30 on Tuesday. Hippo has a 12 month low of $24.08 and a 12 month high of $38.72. The firm has a market capitalization of $931.57 million, a PE ratio of 7.59 and a beta of 1.55. The company’s 50 day simple moving average is $32.65 and its 200 day simple moving average is $29.28. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.95 and a quick ratio of 0.95.

Hippo (NYSE:HIPO) last released its earnings results on Thursday, July 30th. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.96. The firm had revenue of $144.70 million during the quarter, compared to the consensus estimate of $137.44 million. Hippo had a return on equity of 10.68% and a net margin of 23.92%. As a group, equities research analysts forecast that Hippo will post 1.50 EPS for the current fiscal year.

Insider Buying and Selling

In other Hippo news, CEO Torben Ostergaard sold 1,169 shares of the business’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $35.03, for a total value of $40,950.07. Following the sale, the chief executive officer directly owned 60,655 shares in the company, valued at approximately $2,124,744.65. The trade was a 1.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard McCathron sold 5,000 shares of the business’s stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $34.18, for a total transaction of $170,900.00. Following the completion of the sale, the chief executive officer owned 562,132 shares in the company, valued at approximately $19,213,671.76. This trade represents a 0.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 19,007 shares of company stock valued at $623,283 over the last three months. Company insiders own 4.48% of the company’s stock.

Hedge Funds Weigh In On Hippo

Hedge funds have recently made changes to their positions in the business. Citadel Advisors LLC lifted its stake in Hippo by 90.5% during the second quarter. Citadel Advisors LLC now owns 140,734 shares of the company’s stock valued at $3,977,000 after purchasing an additional 66,863 shares during the last quarter. State Street Corp boosted its holdings in Hippo by 9.1% during the second quarter. State Street Corp now owns 443,716 shares of the company’s stock worth $12,539,000 after buying an additional 37,097 shares in the last quarter. Sei Investments Co. boosted its holdings in Hippo by 25.4% during the first quarter. Sei Investments Co. now owns 161,440 shares of the company’s stock worth $4,207,000 after buying an additional 32,728 shares in the last quarter. AWM Investment Company Inc. acquired a new position in Hippo in the second quarter worth approximately $2,826,000. Finally, BlackRock Inc. grew its position in Hippo by 17.8% in the second quarter. BlackRock Inc. now owns 1,498,306 shares of the company’s stock worth $42,342,000 after buying an additional 226,533 shares during the last quarter. Institutional investors and hedge funds own 43.01% of the company’s stock.

Hippo Company Profile

Hippo Holdings Inc is a technology-focused property and casualty insurance company that provides homeowners insurance and related services in the United States. The company combines digital insurance tools, data analytics and home-monitoring technology to simplify the process of obtaining coverage and managing a policy.

Hippo’s offerings are centered on homeowners insurance, including coverage for residential property, personal belongings, liability and additional living expenses. Through its home protection platform, the company also provides resources and services intended to help customers identify and address potential risks before they lead to costly losses, such as water leaks, fire hazards and other property-related issues.

Founded in 2015 by Assaf Wand and Eyal Navon, Hippo became a publicly traded company in 2021 through a business combination with Reinvent Technology Partners Z.