B. Riley Has Negative Forecast for Hippo FY2028 Earnings

Key Points

• B. Riley has lowered its FY2028 earnings per share (EPS) estimate for Hippo Holdings Inc. from $2.52 to $2.36, maintaining a "Buy" rating with a price target of $41.00.
• Despite the lowered forecast, Hippo reported a quarterly earnings beat with $0.65 per share, exceeding the consensus estimate of a loss of $0.65.
• Insider activity includes major shareholder Len Fw Investor, Llc selling over 514,000 shares, representing a 17.20% decrease in their position.

Hippo Holdings Inc. (NYSE:HIPO - Free Report) - Investment analysts at B. Riley decreased their FY2028 EPS estimates for Hippo in a report issued on Wednesday, August 6th. B. Riley analyst R. Binner now anticipates that the company will post earnings of $2.36 per share for the year, down from their previous forecast of $2.52. B. Riley has a "Buy" rating and a $41.00 price target on the stock. The consensus estimate for Hippo's current full-year earnings is ($3.63) per share.

Hippo (NYSE:HIPO - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of ($0.65) by $1.30. The business had revenue of $117.30 million for the quarter, compared to analysts' expectations of $116.00 million. Hippo had a negative net margin of 2.52% and a negative return on equity of 12.08%.

A number of other brokerages have also recently commented on HIPO. JMP Securities boosted their target price on shares of Hippo from $35.00 to $40.00 and gave the company a "market outperform" rating in a report on Thursday. Keefe, Bruyette & Woods boosted their target price on shares of Hippo from $24.00 to $26.00 and gave the company a "market perform" rating in a report on Tuesday, April 22nd. Finally, Jefferies Financial Group dropped their target price on shares of Hippo from $43.00 to $30.00 and set a "buy" rating on the stock in a report on Friday, April 11th.

Hippo Price Performance

NYSE:HIPO traded down $0.83 during trading hours on Friday, hitting $29.02. The company had a trading volume of 83,879 shares, compared to its average volume of 213,413. The company has a market capitalization of $730.02 million, a PE ratio of -59.23 and a beta of 1.53. The stock has a 50-day moving average price of $27.25 and a 200 day moving average price of $26.31. Hippo has a 52 week low of $15.74 and a 52 week high of $35.44.

Insider Activity

In other news, major shareholder Len Fw Investor, Llc sold 514,309 shares of Hippo stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $28.17, for a total value of $14,488,084.53. Following the completion of the transaction, the insider owned 2,476,418 shares of the company's stock, valued at $69,760,695.06. The trade was a 17.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Torben Ostergaard sold 4,889 shares of Hippo stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $24.61, for a total value of $120,318.29. Following the completion of the transaction, the chief executive officer directly owned 66,793 shares of the company's stock, valued at approximately $1,643,775.73. This represents a 6.82% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 521,642 shares of company stock valued at $14,681,601. 10.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Hippo

A number of hedge funds have recently bought and sold shares of the business. Police & Firemen s Retirement System of New Jersey increased its position in shares of Hippo by 12.2% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 4,481 shares of the company's stock valued at $125,000 after purchasing an additional 489 shares during the last quarter. Fluent Financial LLC increased its position in shares of Hippo by 38.6% during the 2nd quarter. Fluent Financial LLC now owns 25,432 shares of the company's stock valued at $710,000 after purchasing an additional 7,082 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Hippo during the 1st quarter valued at about $551,000. Tenzing Global Management LLC purchased a new stake in shares of Hippo during the 1st quarter valued at about $2,556,000. Finally, Philadelphia Financial Management of San Francisco LLC purchased a new stake in shares of Hippo during the 1st quarter valued at about $2,636,000. Hedge funds and other institutional investors own 43.01% of the company's stock.

Hippo Company Profile

Hippo Holdings Inc provides property and casualty insurance products to individuals and business customers primarily in the United States. The company operates through three segments: Services, Insurance-as-a-Service, and Hippo Home Insurance Program. Its insurance products include homeowners' insurance against risks of fire, wind, and theft, as well as other personal lines policies from third party carriers; and personal and commercial, as well as home, auto, cyber, small business, life, specialty lines, and other insurance products.

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