Hippo (NYSE:HIPO) Downgraded by Zacks Research to Hold

Key Points

• Hippo (NYSE:HIPO) was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating, amidst varied opinions from other analysts with ratings of buy, hold, and sell.
• The stock opened at $35.94 with a recent average price target of $34.25, while holding a 52-week high of $38.98 and a low of $16.29.
• Insider trading activity includes CFO Guy Zeltser selling over 5,000 shares and CEO Richard Mccathron selling nearly 2,800 shares, indicating potential changes in insider confidence.

Hippo (NYSE:HIPO - Get Free Report) was downgraded by analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued on Monday,Zacks.com reports.

Several other analysts have also recently weighed in on the stock. Wall Street Zen upgraded shares of Hippo from a "hold" rating to a "buy" rating in a research note on Sunday, August 17th. Weiss Ratings restated a "sell (d-)" rating on shares of Hippo in a research report on Saturday, September 27th. 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 research report on Thursday, August 7th. Finally, B. Riley boosted their target price on shares of Hippo from $35.00 to $41.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Hippo currently has an average rating of "Hold" and a consensus target price of $34.25.

Hippo Stock Performance

NYSE HIPO opened at $35.94 on Monday. The firm has a 50-day moving average of $33.29 and a 200-day moving average of $28.06. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market cap of $899.60 million, a PE ratio of -73.35 and a beta of 1.56. Hippo has a 52-week low of $16.29 and a 52-week high of $38.98.

Hippo (NYSE:HIPO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of ($0.65) by $1.30. Hippo had a negative net margin of 2.52% and a negative return on equity of 12.13%. The business had revenue of $117.30 million during the quarter, compared to analysts' expectations of $116.00 million. On average, sell-side analysts anticipate that Hippo will post -3.63 EPS for the current year.

Insider Activity at Hippo

In related news, CFO Guy Zeltser sold 5,177 shares of Hippo stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $37.48, for a total transaction of $194,033.96. Following the sale, the chief financial officer directly owned 74,861 shares of the company's stock, valued at approximately $2,805,790.28. The trade was a 6.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Richard Mccathron sold 2,725 shares of Hippo stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $34.12, for a total transaction of $92,977.00. Following the sale, the chief executive officer directly owned 470,388 shares in the company, valued at $16,049,638.56. This trade represents a 0.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,177 shares of company stock worth $364,361 over the last ninety days. 10.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hippo

A number of institutional investors have recently added to or reduced their stakes in HIPO. Two Sigma Investments LP bought a new stake in Hippo during the 4th quarter worth approximately $259,000. GAMMA Investing LLC lifted its position in shares of Hippo by 4,916.3% during the 1st quarter. GAMMA Investing LLC now owns 8,026 shares of the company's stock valued at $2,050,000 after acquiring an additional 7,866 shares during the period. NorthCrest Asset Manangement LLC acquired a new position in shares of Hippo during the 1st quarter valued at $304,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Hippo during the first quarter worth $1,427,000. Finally, Vanguard Group Inc. raised its holdings in Hippo by 2.4% during the first quarter. Vanguard Group Inc. now owns 1,044,502 shares of the company's stock worth $26,697,000 after buying an additional 24,253 shares during the last quarter. 43.01% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.