Hippo Holdings Inc. (NYSE:HIPO) Given Average Recommendation of "Buy" by Analysts

Key Points

• Analysts broadly favor Hippo: Seven analysts give the stock a consensus “Buy” rating, with an average 12-month price target of $40.50 versus its recent price of $31.89.
• Hippo reported quarterly earnings of $0.79 per share, substantially above the expected $0.17 loss, while revenue of $144.7 million also exceeded forecasts.
• Insiders have sold 17,838 shares worth approximately $554,000 over the past 90 days, while institutional investors own 43.01% of the company.

Hippo Holdings Inc. (NYSE:HIPO - Get Free Report) has been given a consensus recommendation of "Buy" by the seven analysts that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $40.50.

Several brokerages have recently commented on HIPO. B. Riley Financial restated a "buy" rating and issued a $41.50 price objective (up from $38.00) on shares of Hippo in a research report on Monday, August 3rd. Weiss Ratings reiterated a "hold (c)" rating on shares of Hippo in a research report on Friday, July 31st. Zacks Research raised Hippo from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 7th. Keefe, Bruyette & Woods boosted their price target on Hippo from $33.00 to $35.00 and gave the stock a "market perform" rating in a report on Thursday, August 6th. Finally, Texas Capital upgraded Hippo to a "strong-buy" rating in a research note on Tuesday, June 9th.

Insider Buying and Selling at Hippo

In related news, CFO Guy Zeltser sold 1,669 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $30.98, for a total transaction of $51,705.62. Following the completion of the transaction, the chief financial officer directly owned 120,563 shares of the company's stock, valued at approximately $3,735,041.74. This represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Torben Ostergaard sold 1,169 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $33.00, for a total value of $38,577.00. Following the transaction, the chief executive officer owned 61,824 shares of the company's stock, valued at $2,040,192. This represents a 1.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 17,838 shares of company stock worth $554,083. Insiders own 4.48% of the company's stock.

Institutional Investors Weigh In On Hippo

A number of hedge funds have recently bought and sold shares of HIPO. Caitong International Asset Management Co. Ltd bought a new stake in shares of Hippo in the 4th quarter valued at approximately $26,000. Caz Investments LP raised its holdings in Hippo by 534.4% during the 4th quarter. Caz Investments LP now owns 4,441 shares of the company's stock valued at $134,000 after buying an additional 3,741 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Hippo in the second quarter worth $178,000. State of Wyoming increased its position in Hippo by 22.9% during the second quarter. State of Wyoming now owns 8,666 shares of the company's stock valued at $245,000 after acquiring an additional 1,612 shares during the last quarter. Finally, R Squared Ltd bought a new position in Hippo during the first quarter valued at $253,000. Hedge funds and other institutional investors own 43.01% of the company's stock.

Hippo Stock Performance

Shares of NYSE HIPO opened at $31.89 on Friday. The firm has a fifty day moving average price of $31.69 and a 200-day moving average price of $28.39. 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 stock has a market cap of $841.68 million, a PE ratio of 6.86 and a beta of 1.55. Hippo has a 1 year low of $24.08 and a 1 year high of $38.72.

Hippo (NYSE:HIPO - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $0.79 earnings per share for the quarter, beating analysts' consensus estimates of ($0.17) by $0.96. The company had revenue of $144.70 million for the quarter, compared to analysts' expectations of $137.44 million. Hippo had a net margin of 23.92% and a return on equity of 10.68%. Equities analysts anticipate that Hippo will post 1.5 earnings per share for the current fiscal year.

Hippo Company Profile

Hippo Holdings Inc NYSE: HIPO is an insurance technology company focused on homeowners insurance in the United States. The company uses digital tools, data analytics and automation to simplify the process of obtaining and managing home insurance coverage.

Hippo's offerings are designed to protect homes and personal property against covered risks such as damage from weather events, fire and theft. Its platform also emphasizes proactive home protection, including educational resources, monitoring tools and connected-home devices intended to help homeowners identify and address potential risks before they result in costly claims.

Founded in 2015 by Assaf Wand and Eyal Navon, Hippo expanded through a technology-driven, digitally distributed insurance model.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.