Hippo (NYSE:HIPO) Rating Increased to Strong-Buy at B. Riley

Hippo (NYSE:HIPO - Get Free Report) was upgraded by stock analysts at B. Riley to a "strong-buy" rating in a research note issued on Monday,Zacks.com reports.

HIPO has been the topic of several other research reports. Jefferies Financial Group dropped their price objective on Hippo from $43.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Keefe, Bruyette & Woods raised their price target on Hippo from $24.00 to $26.00 and gave the company a "market perform" rating in a report on Tuesday, April 22nd.

Hippo Stock Performance

HIPO traded down $0.39 during trading on Monday, reaching $27.61. 251,332 shares of the stock were exchanged, compared to its average volume of 187,361. The stock's 50 day moving average price is $25.05 and its two-hundred day moving average price is $26.19. Hippo has a twelve month low of $14.58 and a twelve month high of $35.44. The stock has a market cap of $694.67 million, a P/E ratio of -12.67 and a beta of 1.53.

Hippo (NYSE:HIPO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($1.91) EPS for the quarter, missing analysts' consensus estimates of ($1.41) by ($0.50). The firm had revenue of $110.30 million during the quarter, compared to the consensus estimate of $106.70 million. Hippo had a negative net margin of 13.21% and a negative return on equity of 29.27%. Equities research analysts predict that Hippo will post -3.63 earnings per share for the current fiscal year.

Insider Transactions at Hippo

In related news, CEO Torben Ostergaard sold 2,444 shares of the business's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $29.95, for a total value of $73,197.80. Following the completion of the sale, the chief executive officer directly owned 64,349 shares in the company, valued at $1,927,252.55. The trade was a 3.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 10.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Ameriprise Financial Inc. boosted its stake in shares of Hippo by 72.0% in the fourth quarter. Ameriprise Financial Inc. now owns 38,977 shares of the company's stock valued at $1,043,000 after buying an additional 16,313 shares during the period. Two Sigma Investments LP acquired a new position in Hippo in the 4th quarter valued at $259,000. Jump Financial LLC bought a new stake in shares of Hippo during the 4th quarter valued at $311,000. Fluent Financial LLC acquired a new stake in shares of Hippo during the 1st quarter worth $469,000. Finally, Bank of America Corp DE increased its position in shares of Hippo by 44.5% in the fourth quarter. Bank of America Corp DE now owns 57,521 shares of the company's stock worth $1,540,000 after purchasing an additional 17,704 shares during the period. Institutional investors and hedge funds own 43.01% of the company's stock.

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.