B. Riley Financial Reaffirms "Buy" Rating for Hippo (NYSE:HIPO)

Key Points

• B. Riley Financial reaffirmed a “Buy” rating on Hippo and raised its price target from $41.50 to $50.00, implying 36.48% upside from the prior close.
• Analyst sentiment is mixed but broadly positive: Hippo has an overall “Moderate Buy” rating and an average price target of $42.50, with ratings ranging from Strong Buy to Hold.
• Hippo reported quarterly EPS of $0.79, significantly exceeding the $0.17 loss expected, while revenue of $144.7 million also surpassed estimates; the stock opened at $36.63 and has a market capitalization of about $967 million.

Hippo (NYSE:HIPO - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at B. Riley Financial in a research note issued on Friday, Benzinga reports. They presently have a $50.00 price objective on the stock, up from their prior price objective of $41.50. B. Riley Financial's price target would indicate a potential upside of 36.48% from the stock's previous close.

Other analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods increased their target price on Hippo from $33.00 to $35.00 and gave the stock a "market perform" rating in a report on Thursday, August 6th. Weiss Ratings restated a "hold (c)" rating on shares of Hippo in a research report on Thursday. Finally, Zacks Research cut shares of Hippo from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Hippo presently has an average rating of "Moderate Buy" and an average price target of $42.50.

Hippo Stock Down 1.4%

HIPO opened at $36.63 on Friday. Hippo has a fifty-two week low of $24.08 and a fifty-two week high of $39.39. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.95 and a quick ratio of 0.95. The firm's fifty day moving average price is $33.51 and its two-hundred day moving average price is $29.43. The company has a market capitalization of $966.80 million, a P/E ratio of 8.09 and a beta of 1.55.

Hippo (NYSE:HIPO - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of ($0.17) by $0.96. The business had revenue of $144.70 million for the quarter, compared to analyst estimates of $137.44 million. Hippo had a return on equity of 10.68% and a net margin of 23.92%. On average, analysts anticipate that Hippo will post 1.68 EPS for the current year.

Insider Transactions at Hippo

In other news, CEO Richard McCathron sold 5,000 shares of Hippo stock in a transaction on Friday, October 9th. The stock was sold at an average price of $34.18, for a total transaction of $170,900.00. Following the completion of the sale, the chief executive officer owned 562,132 shares of the company's stock, valued at approximately $19,213,671.76. This trade represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Torben Ostergaard sold 1,169 shares of the firm's stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $35.03, for a total value of $40,950.07. Following the completion of the transaction, the chief executive officer owned 60,655 shares in the company, valued at $2,124,744.65. The trade was a 1.89% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 17,338 shares of company stock worth $571,577. 4.48% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in shares of Hippo by 17.8% in the second quarter. BlackRock Inc. now owns 1,498,306 shares of the company's stock valued at $42,342,000 after acquiring an additional 226,533 shares in the last quarter. AWM Investment Company Inc. purchased a new position in Hippo in the second quarter valued at approximately $2,826,000. Citadel Advisors LLC increased its position in Hippo by 90.5% in the second quarter. Citadel Advisors LLC now owns 140,734 shares of the company's stock worth $3,977,000 after buying an additional 66,863 shares during the last quarter. State Street Corp increased its holdings in Hippo by 9.1% in the 2nd quarter. State Street Corp now owns 443,716 shares of the company's stock worth $12,539,000 after acquiring an additional 37,097 shares during the last quarter. Finally, Sei Investments Co. boosted its position in Hippo by 25.4% during the first quarter. Sei Investments Co. now owns 161,440 shares of the company's stock worth $4,207,000 after purchasing an additional 32,728 shares during the period. 43.01% of the stock is owned by institutional investors.

Hippo Company Profile

Hippo Holdings Inc is a technology-focused insurance company that provides home insurance and related services to homeowners in the United States. Operating under the Hippo brand, the company uses digital tools, data analytics and a streamlined online experience to help customers obtain coverage, manage policies and receive support.

Hippo's offerings are designed to protect residential properties and personal belongings against covered risks, while also emphasizing proactive home protection.

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