Hippo (NYSE:HIPO) Now Covered by B. Riley Financial

B. Riley Financial started coverage on shares of Hippo (NYSE:HIPO) in a research note issued to investors on Friday, MarketBeat.com reports. The firm issued a buy rating and a $38.00 price objective on the stock.

Other equities analysts also recently issued reports about the stock. Weiss Ratings upgraded shares of Hippo from a “sell (d-)” rating to a “hold (c-)” rating in a report on Thursday, March 5th. Keefe, Bruyette & Woods lowered their target price on shares of Hippo from $33.00 to $30.00 and set a “market perform” rating on the stock in a report on Tuesday, April 7th. Finally, Zacks Research upgraded shares of Hippo to a “hold” rating in a report on Tuesday, March 3rd. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.67.

Hippo Price Performance

Shares of HIPO opened at $28.95 on Friday. The company has a market cap of $751.70 million, a price-to-earnings ratio of 13.53 and a beta of 1.61. Hippo has a 1-year low of $19.92 and a 1-year high of $38.98. The company’s fifty day simple moving average is $26.92 and its 200 day simple moving average is $30.62. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.11.

Insider Buying and Selling at Hippo

In other Hippo news, CEO Torben Ostergaard sold 6,105 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $28.57, for a total value of $174,419.85. Following the transaction, the chief executive officer directly owned 46,694 shares in the company, valued at $1,334,047.58. The trade was a 11.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard Mccathron sold 5,000 shares of the company’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $26.05, for a total transaction of $130,250.00. Following the completion of the transaction, the chief executive officer owned 610,650 shares in the company, valued at approximately $15,907,432.50. This represents a 0.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 21,705 shares of company stock valued at $597,934 in the last ninety days. Insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Hippo

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Hippo by 5.3% in the third quarter. Vanguard Group Inc. now owns 1,108,547 shares of the company’s stock valued at $40,085,000 after purchasing an additional 55,394 shares during the last quarter. Geode Capital Management LLC increased its holdings 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 valued at $16,760,000 after purchasing an additional 108,359 shares during the last quarter. Westerly Capital Management LLC increased its holdings in shares of Hippo by 24.3% in the fourth quarter. Westerly Capital Management LLC now owns 420,000 shares of the company’s stock valued at $12,634,000 after purchasing an additional 82,000 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Hippo by 17.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 364,914 shares of the company’s stock valued at $10,977,000 after purchasing an additional 53,174 shares during the last quarter. Finally, Stoic Point Capital Management LLC acquired a new position in shares of Hippo in the fourth quarter valued at $7,490,000. 43.01% of the stock is currently owned by institutional investors and hedge funds.

Hippo Company Profile

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.