Hippo (NYSE:HIPO) Hits New 12-Month High - Time to Buy?

Key Points

• Hippo Holdings Inc. (NYSE:HIPO) reached a new 12-month high of $38.98 on Monday, with the latest trading price at $38.22.
• Analysts have boosted Hippo's stock ratings, with Wall Street Zen upgrading it to a "buy" and B. Riley increasing the target price to $41.00.
• Hippo reported earnings of $0.65 per share for the last quarter, surpassing estimates, despite an expected -3.63 EPS for the current year.

Hippo Holdings Inc. (NYSE:HIPO - Get Free Report)'s share price reached a new 52-week high on Monday . The company traded as high as $38.98 and last traded at $38.22, with a volume of 36604 shares traded. The stock had previously closed at $37.29.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on HIPO shares. Wall Street Zen raised Hippo from a "hold" rating to a "buy" rating in a report on Sunday, August 17th. B. Riley increased their target price on shares of Hippo from $35.00 to $41.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Finally, JMP Securities raised their price objective 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. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Hippo has an average rating of "Moderate Buy" and a consensus target price of $34.25.

Hippo Price Performance

The company's 50-day moving average price is $30.11 and its two-hundred day moving average price is $27.07. The company has a market cap of $941.95 million, a P/E ratio of -76.86 and a beta of 1.55. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.14.

Hippo (NYSE:HIPO - Get Free Report) last released its earnings results 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. The company had revenue of $117.30 million during the quarter, compared to the consensus estimate of $116.00 million. Hippo had a negative net margin of 2.52% and a negative return on equity of 12.13%. As a group, sell-side analysts expect that Hippo Holdings Inc. will post -3.63 earnings per share for the current year.

Insider Transactions at Hippo

In other Hippo news, CEO Richard Mccathron sold 2,725 shares of the business's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $34.12, for a total transaction of $92,977.00. Following the completion of the transaction, the chief executive officer directly owned 470,388 shares of the company's stock, valued at $16,049,638.56. The trade was a 0.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Len Fw Investor, Llc sold 514,309 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $28.17, for a total transaction of $14,488,084.53. Following the completion of the sale, the insider directly owned 2,476,418 shares of the company's stock, valued at approximately $69,760,695.06. This represents a 17.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 519,309 shares of company stock valued at $14,658,412 over the last three months. 10.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP bought a new stake in Hippo in the second quarter worth approximately $33,000. BNP Paribas Financial Markets bought a new stake in Hippo in the fourth quarter worth approximately $118,000. Police & Firemen s Retirement System of New Jersey grew its position in Hippo by 12.2% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 4,481 shares of the company's stock worth $125,000 after acquiring an additional 489 shares in the last quarter. State of Wyoming bought a new stake in Hippo in the second quarter worth approximately $127,000. Finally, Tower Research Capital LLC TRC grew its position in Hippo by 418.0% in the second quarter. Tower Research Capital LLC TRC now owns 6,402 shares of the company's stock worth $179,000 after acquiring an additional 5,166 shares in the last quarter. Institutional investors and hedge funds own 43.01% of the company's stock.

About Hippo

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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