Brokerages Set Hippo Holdings Inc. (NYSE:HIPO) Price Target at $38.33

Hippo Holdings Inc. (NYSE:HIPOGet Free Report) has earned a consensus rating of “Moderate Buy” from the seven research firms that are presently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $38.6667.

HIPO has been the subject of a number of recent research reports. B. Riley Financial initiated coverage on shares of Hippo in a research report on Friday, April 17th. They issued a “buy” rating and a $38.00 target price for the company. Keefe, Bruyette & Woods boosted their price target on shares of Hippo from $32.00 to $33.00 and gave the stock a “market perform” rating in a research report on Wednesday. Texas Capital raised shares of Hippo to a “strong-buy” rating in a research note on Tuesday, June 9th. Finally, Weiss Ratings upgraded shares of Hippo from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 4th.

Get Our Latest Report on HIPO

Insider Buying and Selling

In related news, CEO Torben Ostergaard sold 3,667 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was 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 owned 65,673 shares of the company’s stock, valued at approximately $1,714,065.30. This trade represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard Mccathron sold 5,000 shares of the company’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 sale, the chief executive officer owned 590,433 shares of the company’s stock, valued at approximately $14,760,825. The trade was a 0.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 13,667 shares of company stock valued at $356,209 over the last 90 days. Company insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Hippo

A number of institutional investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd acquired a new position in Hippo in the 4th quarter valued at about $26,000. Altshuler Shaham Ltd grew its position in Hippo by 270.4% in the fourth quarter. Altshuler Shaham Ltd now owns 1,000 shares of the company’s stock worth $30,000 after acquiring an additional 730 shares during the period. Quantbot Technologies LP acquired a new stake in Hippo during the second quarter worth $33,000. Torren Management LLC acquired a new stake in Hippo during the fourth quarter worth $55,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in Hippo in the fourth quarter valued at $56,000. 43.01% of the stock is owned by hedge funds and other institutional investors.

Hippo Stock Down 0.0%

Shares of HIPO opened at $28.80 on Friday. The stock has a 50 day moving average price of $26.50 and a 200 day moving average price of $27.78. Hippo has a one year low of $24.08 and a one year high of $38.98. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market capitalization of $29.96 million, a price-to-earnings ratio of 6.67 and a beta of 1.49.

Hippo (NYSE:HIPOGet Free Report) last announced its quarterly earnings data on Wednesday, March 4th. The company reported $0.67 earnings per share for the quarter. Hippo had a return on equity of 12.17% and a net margin of 23.45%.The company had revenue of $120.40 million for the quarter. Equities research analysts forecast that Hippo will post 0.95 earnings per share for the current fiscal year.

Hippo Company Profile

(Get Free Report)

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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Analyst Recommendations for Hippo (NYSE:HIPO)

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