Hippo Holdings Inc. (NYSE:HIPO) Stock Has Consensus Price Target of $40.50 According to Analysts

Key Points

• Hippo has a “Moderate Buy” consensus rating from seven analysts, with three buys, one strong buy and three holds. The average 12-month price target is $40.50, versus a recent share price of $34.30.
• Hippo’s latest quarterly results exceeded expectations, reporting $0.79 in EPS versus the consensus estimate of a $0.17 loss, while revenue reached $144.7 million compared with estimates of $137.44 million.
• Institutional investors own 43.01% of the company, with BlackRock and State Street among the major holders; meanwhile, company insiders sold 12,838 shares worth approximately $411,433 over the past 90 days.

Hippo Holdings Inc. (NYSE:HIPO - Get Free Report) has earned a consensus rating of "Moderate Buy" from the seven analysts that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $40.50.

Several brokerages recently weighed in on HIPO. Weiss Ratings restated a "hold (c)" rating on shares of Hippo in a research note on Friday, July 31st. 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 research report on Thursday, August 6th. B. Riley Financial reaffirmed a "buy" rating and set a $41.50 target price (up from $38.00) on shares of Hippo in a report on Monday, August 3rd. Finally, Zacks Research cut Hippo from a "strong-buy" rating to a "hold" rating in a report on Friday, October 2nd.

Hippo Stock Performance

NYSE HIPO opened at $34.30 on Tuesday. The stock has a 50-day simple moving average of $32.49 and a two-hundred day simple moving average of $29.05. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $905.12 million, a P/E ratio of 7.38 and a beta of 1.55. Hippo has a fifty-two week low of $24.08 and a fifty-two week high of $38.72.

Hippo (NYSE:HIPO - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.17) by $0.96. Hippo had a return on equity of 10.68% and a net margin of 23.92%. The company had revenue of $144.70 million during the quarter, compared to the consensus estimate of $137.44 million. On average, equities analysts forecast that Hippo will post 1.50 earnings per share for the current year.

Insider Transactions at Hippo

In other news, CFO Guy Zeltser sold 1,669 shares of Hippo stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $30.98, for a total transaction of $51,705.62. Following the sale, the chief financial officer owned 120,563 shares of the company's stock, valued at approximately $3,735,041.74. The trade was a 1.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Torben Ostergaard sold 1,169 shares of Hippo stock in a transaction 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 completion of the sale, the chief executive officer owned 61,824 shares in the company, valued at $2,040,192. This represents a 1.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 12,838 shares of company stock worth $411,433 in the last 90 days. Insiders own 4.48% of the company's stock.

Hedge Funds Weigh In On Hippo

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in Hippo by 17.8% during the 2nd quarter. BlackRock Inc. now owns 1,498,306 shares of the company's stock worth $42,342,000 after buying an additional 226,533 shares in the last quarter. State Street Corp lifted its holdings in Hippo by 9.1% during the 2nd quarter. State Street Corp now owns 443,716 shares of the company's stock worth $12,539,000 after buying an additional 37,097 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Hippo by 8.2% during the first quarter. Dimensional Fund Advisors LP now owns 394,907 shares of the company's stock worth $10,291,000 after purchasing an additional 29,993 shares during the last quarter. Stoic Point Capital Management LLC boosted its holdings in shares of Hippo by 0.8% in the 1st quarter. Stoic Point Capital Management LLC now owns 251,116 shares of the company's stock valued at $6,544,000 after buying an additional 2,100 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in Hippo by 25.4% in the first quarter. Sei Investments Co. now owns 161,440 shares of the company's stock valued at $4,207,000 after acquiring an additional 32,728 shares in the last quarter. Institutional investors and hedge funds own 43.01% of the company's stock.

Hippo Company Profile

Hippo Holdings Inc is a technology-focused property and casualty insurance company that provides homeowners insurance and related services in the United States. The company combines digital insurance tools, data analytics and home-monitoring technology to simplify the process of obtaining coverage and managing a policy.

Hippo's offerings are centered on homeowners insurance, including coverage for residential property, personal belongings, liability and additional living expenses. Through its home protection platform, the company also provides resources and services intended to help customers identify and address potential risks before they lead to costly losses, such as water leaks, fire hazards and other property-related issues.

Founded in 2015 by Assaf Wand and Eyal Navon, Hippo became a publicly traded company in 2021 through a business combination with Reinvent Technology Partners Z.

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.