Hippo (NYSE:HIPO) Now Covered by B. Riley Financial

Key Points

• B. Riley Financial initiated coverage on Hippo with a "buy" rating and a $38.00 price target, implying about a 34.4% upside from the recent share price.
• The analyst consensus is mixed—three Buy and three Hold ratings—giving an average rating of "Moderate Buy" and an average price target of $37.67; Hippo recently traded around $28.28 with a market cap of about $734.3 million and a P/E of 13.02.
• Company insiders have been net sellers recently (21,705 shares sold last quarter worth ~$597,934), with insiders owning 10.8% of the stock and institutional investors holding about 43.0%.

Analysts at B. Riley Financial began coverage on shares of Hippo (NYSE:HIPO - Get Free Report) in a note issued to investors on Friday. The firm set a "buy" rating and a $38.00 price target on the stock. B. Riley Financial's price target suggests a potential upside of 34.39% from the company's current price.

Other equities analysts also recently issued reports about the stock. Keefe, Bruyette & Woods dropped their target price on shares of Hippo from $33.00 to $30.00 and set a "market perform" rating for the company in a research note on Tuesday, April 7th. Zacks Research raised shares of Hippo to a "hold" rating in a report on Tuesday, March 3rd. Finally, Weiss Ratings upgraded shares of Hippo from a "sell (d-)" rating to a "hold (c-)" rating in a research report on Thursday, March 5th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $37.67.

Hippo Price Performance

Shares of HIPO stock opened at $28.28 on Friday. The stock has a 50 day moving average of $26.94 and a two-hundred day moving average of $30.66. The company has a market capitalization of $734.33 million, a P/E ratio of 13.02 and a beta of 1.61. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.11. Hippo has a 12 month low of $19.92 and a 12 month high of $38.98.

Insider Activity

In other news, CEO Richard Mccathron sold 5,000 shares of the firm's stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $26.05, for a total value of $130,250.00. Following the transaction, the chief executive officer owned 610,650 shares of the company's stock, valued at approximately $15,907,432.50. This trade represents a 0.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Torben Ostergaard sold 6,105 shares of Hippo stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $28.57, for a total transaction of $174,419.85. Following the sale, the chief executive officer owned 46,694 shares of the company's stock, valued at approximately $1,334,047.58. This represents a 11.56% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 21,705 shares of company stock worth $597,934. 10.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hippo

Large investors have recently bought and sold shares of the business. Principal Financial Group Inc. raised its position in shares of Hippo by 149.6% during the 3rd quarter. Principal Financial Group Inc. now owns 70,791 shares of the company's stock valued at $2,560,000 after acquiring an additional 42,427 shares during the last quarter. Huntleigh Advisors Inc. bought a new position in shares of Hippo in the 3rd quarter worth $2,170,000. Boothbay Fund Management LLC boosted its position in shares of Hippo by 500.9% in the 3rd quarter. Boothbay Fund Management LLC now owns 60,795 shares of the company's stock worth $2,198,000 after purchasing an additional 50,677 shares during the last quarter. Tudor Investment Corp ET AL acquired a new stake in shares of Hippo during the third quarter worth $963,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Hippo during the fourth quarter worth $620,000. 43.01% of the stock is currently owned by institutional investors and hedge funds.

About Hippo

Hippo Enterprises Inc is a technology-driven home insurance company that offers modernized homeowners insurance products through a digital-first platform. Leveraging data analytics, artificial intelligence and smart home devices, the company designs tailored coverage plans intended to streamline the underwriting process and deliver more comprehensive protection for homeowners. Hippo's policies typically include standard dwelling coverage, personal property protection and liability insurance, along with optional add-ons such as water backup, home computer systems and equipment breakdown coverage.

Through its online portal and partner network of licensed insurance agents, Hippo provides policyholders with a range of services aimed at minimizing risk and preventing losses before they occur.

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