Hippo (NYSE:HIPO) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of Hippo (NYSE:HIPO) from a buy rating to a hold rating in a research note issued to investors on Saturday.

Other analysts have also recently issued research reports about the stock. Zacks Research cut shares of Hippo from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. B. Riley raised their target price on shares of Hippo from $35.00 to $41.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. JMP Securities raised their price target on shares of Hippo from $35.00 to $40.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 7th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hippo in a research report on Wednesday. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Hippo presently has a consensus rating of “Hold” and an average price target of $34.25.

Hippo Stock Performance

NYSE HIPO opened at $34.43 on Friday. The firm has a 50-day moving average of $33.90 and a 200-day moving average of $28.23. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market cap of $861.78 million, a PE ratio of -70.27 and a beta of 1.56. Hippo has a 52-week low of $16.49 and a 52-week high of $38.98.

Hippo (NYSE:HIPO) last posted its earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.65) by $1.30. The company had revenue of $117.30 million during the quarter, compared to analysts’ expectations of $116.00 million. Hippo had a negative net margin of 2.52% and a negative return on equity of 12.13%. On average, sell-side analysts anticipate that Hippo will post -3.63 EPS for the current year.

Insider Transactions at Hippo

In other Hippo news, CEO Richard Mccathron sold 2,725 shares of the firm’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $34.12, for a total value of $92,977.00. Following the transaction, the chief executive officer directly owned 470,388 shares of the company’s stock, valued at $16,049,638.56. This trade represents a 0.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Guy Zeltser sold 5,177 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $37.48, for a total transaction of $194,033.96. Following the completion of the transaction, the chief financial officer directly owned 74,861 shares in the company, valued at approximately $2,805,790.28. This represents a 6.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,177 shares of company stock worth $364,361. 10.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Hippo

Hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP bought a new position in Hippo in the 2nd quarter valued at about $33,000. Police & Firemen s Retirement System of New Jersey increased its holdings in Hippo by 12.2% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 4,481 shares of the company’s stock valued at $125,000 after buying an additional 489 shares during the period. State of Wyoming bought a new position in Hippo in the 2nd quarter valued at about $127,000. Tower Research Capital LLC TRC increased its holdings in Hippo by 418.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,402 shares of the company’s stock valued at $179,000 after buying an additional 5,166 shares during the period. Finally, Shay Capital LLC bought a new position in Hippo in the 2nd quarter valued at about $204,000. 43.01% of the stock is owned by institutional investors.

Hippo Company Profile

Hippo Holdings Inc provides property and casualty insurance products to individuals and business customers primarily in the United States. The company operates through three segments: Services, Insurance-as-a-Service, and Hippo Home Insurance Program. Its insurance products include homeowners' insurance against risks of fire, wind, and theft, as well as other personal lines policies from third party carriers; and personal and commercial, as well as home, auto, cyber, small business, life, specialty lines, and other insurance products.