Hippo (NYSE:HIPO) Reaches New 1-Year High - Still a Buy?

Key Points

• Hippo Holdings Inc. (NYSE:HIPO) reached a new 52-week high of $35.88, having seen a significant increase from a previous closing price of $33.24.
• Analysts have upgraded Hippo's stock ratings, with JMP Securities raising their price objective to $40.00 and B. Riley to $41.00, contributing to a consensus rating of "Moderate Buy."
• The company reported a quarterly earnings per share (EPS) of $0.65, significantly exceeding analysts' expectations of ($0.65), alongside a revenue of $117.30 million for the quarter.

Hippo Holdings Inc. (NYSE:HIPO - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $35.46 and last traded at $35.88, with a volume of 106892 shares changing hands. The stock had previously closed at $33.24.

Analyst Upgrades and Downgrades

Several research firms have issued reports on HIPO. JMP Securities boosted 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. B. Riley increased 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. Finally, Wall Street Zen upgraded shares of Hippo from a "hold" rating to a "buy" rating in a research note on Sunday, August 17th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $34.25.

Hippo Price Performance

The stock's fifty day moving average is $29.24 and its 200-day moving average is $26.75. The stock has a market capitalization of $918.13 million, a PE ratio of -74.86 and a beta of 1.55. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.91 and a quick ratio of 0.91.

Hippo (NYSE:HIPO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.65) by $1.30. The firm had revenue of $117.30 million for 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, equities analysts predict that Hippo Holdings Inc. will post -3.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Hippo

In other news, major shareholder Len Fw Investor, Llc sold 514,309 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $28.17, for a total value of $14,488,084.53. Following the transaction, the insider directly owned 2,476,418 shares of the company's stock, valued at approximately $69,760,695.06. This trade represents a 17.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Torben Ostergaard sold 2,444 shares of the business's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $29.95, for a total transaction of $73,197.80. Following the transaction, the chief executive officer owned 64,349 shares in the company, valued at $1,927,252.55. The trade was a 3.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 519,028 shares of company stock valued at $14,638,632 over the last ninety days. Corporate insiders own 10.80% of the company's stock.

Institutional Investors Weigh In On Hippo

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Hippo by 2.4% in the first quarter. Vanguard Group Inc. now owns 1,044,502 shares of the company's stock valued at $26,697,000 after purchasing an additional 24,253 shares in the last quarter. Hood River Capital Management LLC acquired a new position in shares of Hippo in the second quarter valued at approximately $13,665,000. Westerly Capital Management LLC grew its holdings in shares of Hippo by 30.4% in the second quarter. Westerly Capital Management LLC now owns 326,000 shares of the company's stock valued at $9,105,000 after purchasing an additional 76,000 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Hippo by 96.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 228,137 shares of the company's stock valued at $6,107,000 after purchasing an additional 112,108 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Hippo by 30.5% in the second quarter. JPMorgan Chase & Co. now owns 208,472 shares of the company's stock valued at $5,823,000 after purchasing an additional 48,677 shares in the last quarter. 43.01% of the stock is currently owned by institutional investors and hedge funds.

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.

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