Hippo Holdings Inc. (NYSE:HIPO – Get Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $27.08, but opened at $28.50. Hippo shares last traded at $28.6180, with a volume of 8,843 shares.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on the company. Keefe, Bruyette & Woods raised their price target on Hippo from $30.00 to $32.00 and gave the company a “market perform” rating in a research report on Thursday, May 7th. Texas Capital upgraded shares of Hippo to a “strong-buy” rating in a research report on Tuesday, June 9th. Weiss Ratings raised shares of Hippo from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 4th. Finally, B. Riley Financial began coverage on shares of Hippo in a report on Friday, April 17th. They set a “buy” rating and a $38.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.33.
Check Out Our Latest Stock Report on HIPO
Hippo Stock Performance
Hippo (NYSE:HIPO – Get Free Report) last posted its quarterly earnings data on Wednesday, March 4th. The company reported $0.67 EPS for the quarter. The business had revenue of $120.40 million for the quarter. Hippo had a return on equity of 12.17% and a net margin of 23.45%. As a group, analysts forecast that Hippo Holdings Inc. will post 1.03 EPS for the current fiscal year.
Insider Transactions at Hippo
In other Hippo news, CEO Torben Ostergaard sold 3,667 shares of Hippo stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $26.10, for a total value of $95,708.70. Following the completion of the sale, the chief executive officer directly owned 65,673 shares of the company’s stock, valued at approximately $1,714,065.30. The trade was a 5.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard Mccathron sold 5,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $25.00, for a total value of $125,000.00. Following the completion of the transaction, the chief executive officer owned 590,433 shares of the company’s stock, valued at $14,760,825. This trade represents a 0.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 18,667 shares of company stock valued at $486,459. Insiders own 10.80% of the company’s stock.
Institutional Investors Weigh In On Hippo
A number of hedge funds and other institutional investors have recently made changes to their positions in HIPO. Intech Investment Management LLC raised its position in shares of Hippo by 4.0% in the 3rd quarter. Intech Investment Management LLC now owns 7,968 shares of the company’s stock worth $288,000 after buying an additional 310 shares during the period. Altshuler Shaham Ltd grew its position in Hippo by 270.4% during the fourth quarter. Altshuler Shaham Ltd now owns 1,000 shares of the company’s stock valued at $30,000 after acquiring an additional 730 shares during the period. Deutsche Bank AG grew its position in Hippo by 1.2% during the fourth quarter. Deutsche Bank AG now owns 60,005 shares of the company’s stock valued at $1,805,000 after acquiring an additional 736 shares during the period. Balyasny Asset Management L.P. increased its stake in Hippo by 5.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 16,420 shares of the company’s stock worth $494,000 after acquiring an additional 812 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Hippo by 3.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 24,588 shares of the company’s stock worth $740,000 after acquiring an additional 834 shares during the last quarter. Hedge funds and other institutional investors own 43.01% of the company’s stock.
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.
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