Hippo (NYSE:HIPO – Get Free Report) had its price target upped by Keefe, Bruyette & Woods from $32.00 to $33.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 16.59% from the company’s previous close.
HIPO has been the topic of several other research reports. Texas Capital raised 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 report on Monday, May 4th. Finally, B. Riley Financial initiated coverage on shares of Hippo in a research note on Friday, April 17th. They set a “buy” rating and a $38.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.67.
View Our Latest Report on Hippo
Hippo Stock Down 0.4%
Hippo (NYSE:HIPO – Get Free Report) last posted its quarterly earnings results on Wednesday, March 4th. The company reported $0.67 earnings per share for the quarter. The company had revenue of $120.40 million during the quarter. Hippo had a return on equity of 12.17% and a net margin of 23.45%. As a group, equities research analysts expect that Hippo will post 0.95 EPS for the current year.
Insider Activity at Hippo
In other news, CEO Richard Mccathron sold 5,000 shares of Hippo stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $27.10, for a total value of $135,500.00. Following the transaction, the chief executive officer owned 604,212 shares of the company’s stock, valued at $16,374,145.20. This trade represents a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Torben Ostergaard sold 3,667 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $26.10, for a total transaction of $95,708.70. Following the completion of the transaction, the chief executive officer owned 65,673 shares in the company, valued at $1,714,065.30. The trade was a 5.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 18,667 shares of company stock worth $486,459. Corporate insiders own 10.80% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the business. Stoic Point Capital Management LLC acquired a new position in Hippo in the 4th quarter valued at approximately $7,490,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Hippo during the third quarter valued at approximately $5,842,000. Geode Capital Management LLC raised its stake 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 in the last quarter. Sei Investments Co. bought a new position in Hippo in the second quarter worth $2,810,000. Finally, Nuveen LLC lifted its position in Hippo by 238.6% in the fourth quarter. Nuveen LLC now owns 140,527 shares of the company’s stock worth $4,227,000 after purchasing an additional 99,020 shares during the period. 43.01% of the stock is owned by institutional investors.
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.
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