Hippo (NYSE:HIPO) Releases Quarterly Earnings Results

Hippo (NYSE:HIPOGet Free Report) announced its earnings results on Wednesday. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.59, FiscalAI reports. The business had revenue of $144.70 million during the quarter, compared to analyst estimates of $137.44 million. Hippo had a return on equity of 12.17% and a net margin of 23.45%.

Hippo Trading Up 6.9%

Shares of Hippo stock traded up $2.04 on Thursday, hitting $31.88. 340,320 shares of the company traded hands, compared to its average volume of 134,789. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.11. The company has a market cap of $830.02 million, a PE ratio of 7.38 and a beta of 1.49. The stock’s 50 day moving average price is $27.08 and its 200-day moving average price is $27.58. Hippo has a 52 week low of $24.08 and a 52 week high of $38.98.

Insider Buying and Selling

In other Hippo news, CEO Richard Mccathron sold 5,000 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $27.10, for a total transaction of $135,500.00. Following the transaction, the chief executive officer directly owned 604,212 shares in the company, valued at $16,374,145.20. This trade represents a 0.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Guy Zeltser sold 1,669 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $30.98, for a total value of $51,705.62. Following the transaction, the chief financial officer owned 120,563 shares in the company, valued at $3,735,041.74. The trade was a 1.37% 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 20,336 shares of company stock valued at $550,564 over the last quarter. 4.48% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd bought a new stake in shares of Hippo in the 4th quarter valued at about $391,000. Stoic Point Capital Management LLC bought a new position in shares of Hippo during the fourth quarter valued at approximately $7,490,000. Tudor Investment Corp ET AL boosted its stake in shares of Hippo by 30.0% during the fourth quarter. Tudor Investment Corp ET AL now owns 34,616 shares of the company’s stock valued at $1,041,000 after purchasing an additional 7,982 shares in the last quarter. Janus Henderson Group PLC purchased a new position in Hippo during the fourth quarter valued at approximately $262,000. Finally, Engineers Gate Manager LP increased its holdings in Hippo by 71.7% during the fourth quarter. Engineers Gate Manager LP now owns 12,939 shares of the company’s stock valued at $389,000 after buying an additional 5,403 shares during the period. 43.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. B. Riley Financial started coverage on Hippo in a research note on Friday, April 17th. They set a “buy” rating and a $38.00 price target for the company. Keefe, Bruyette & Woods increased their target price on Hippo from $32.00 to $33.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 8th. Weiss Ratings upgraded Hippo from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 4th. Finally, Texas Capital raised shares of Hippo to a “strong-buy” rating in a research note on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.67.

Check Out Our Latest Stock Report on HIPO

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.

Further Reading

Earnings History for Hippo (NYSE:HIPO)

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