Hippo (NYSE:HIPO) Sets New 52-Week High - Here's What Happened

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 stock price reached a new 52-week high during trading on Monday . The company traded as high as $35.46 and last traded at $35.88, with a volume of 106892 shares. The stock had previously closed at $33.24.

Analysts Set New Price Targets

A number of equities research analysts recently commented on HIPO shares. B. Riley lifted their price target on shares of Hippo from $35.00 to $41.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. 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 report on Thursday, August 7th. Finally, Wall Street Zen raised shares of Hippo from a "hold" rating to a "buy" rating in a report on Sunday, August 17th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Hippo presently has an average rating of "Moderate Buy" and an average target price of $34.25.

Hippo Price Performance

The firm's 50-day moving average is $30.11 and its 200-day moving average is $27.08. The company has a market capitalization of $931.79 million, a PE ratio of -75.98 and a beta of 1.55. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.14.

Hippo (NYSE:HIPO - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) 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 company had revenue of $117.30 million during the quarter, compared to analyst estimates of $116.00 million. Equities analysts predict that Hippo Holdings Inc. will post -3.63 earnings per share for the current fiscal year.

Insider Activity

In other Hippo news, major shareholder Len Fw Investor, Llc sold 514,309 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were 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 in the company, valued at $69,760,695.06. This 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 hyperlink. Also, CEO Richard Mccathron sold 2,725 shares of the company'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 sale, the chief executive officer owned 470,388 shares of the company's stock, valued at approximately $16,049,638.56. The trade was a 0.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 519,309 shares of company stock valued at $14,658,412. Company insiders own 10.80% of the company's stock.

Institutional Trading of Hippo

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

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.