Hippo (NYSE:HIPO) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Key Points

• Keefe, Bruyette & Woods raised Hippo’s price target to $35 from $33 while maintaining a “market perform” rating, implying 7.19% upside. Analysts overall give the stock a “Moderate Buy” consensus with a $40.50 target.
• Hippo reported quarterly earnings of $0.79 per share, far exceeding the $0.17 loss analysts expected, while revenue of $144.7 million also surpassed estimates.
• HIPO shares opened at $32.65, up 1%, and remain below their 52-week high of $38.98. Company insiders sold 20,336 shares worth about $550,564 during the last quarter.

Hippo (NYSE:HIPO - Get Free Report) had its target price lifted by stock analysts at Keefe, Bruyette & Woods from $33.00 to $35.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' price objective would indicate a potential upside of 7.19% from the stock's current price.

HIPO has been the subject of a number of other reports. Texas Capital raised Hippo to a "strong-buy" rating in a research report on Tuesday, June 9th. Weiss Ratings reissued a "hold (c)" rating on shares of Hippo in a research report on Friday, July 31st. Finally, B. Riley Financial restated a "buy" rating and issued a $41.50 price objective (up from $38.00) on shares of Hippo in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Hippo has a consensus rating of "Moderate Buy" and a consensus price target of $40.50.

Hippo Stock Up 1.0%

Shares of HIPO opened at $32.65 on Thursday. The stock has a fifty day moving average of $27.68 and a 200-day moving average of $27.63. Hippo has a 52 week low of $24.08 and a 52 week high of $38.98. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market capitalization of $850.10 million, a price-to-earnings ratio of 6.92 and a beta of 1.47.

Hippo (NYSE:HIPO - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.96. The company had revenue of $144.70 million during the quarter, compared to analysts' expectations of $137.44 million. Hippo had a net margin of 23.92% and a return on equity of 10.68%. As a group, sell-side analysts anticipate that Hippo will post 0.95 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Guy Zeltser sold 1,669 shares of Hippo stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $30.98, for a total value of $51,705.62. Following the transaction, the chief financial officer directly owned 120,563 shares of the company's stock, valued at $3,735,041.74. The trade was a 1.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard Mccathron sold 5,000 shares of the company's stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $28.53, for a total transaction of $142,650.00. Following the transaction, the chief executive officer directly owned 585,433 shares of the company's stock, valued at approximately $16,702,403.49. This trade represents a 0.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 20,336 shares of company stock valued at $550,564. Insiders own 4.48% of the company's stock.

Institutional Trading of Hippo

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Stoic Point Capital Management LLC raised its holdings in shares of Hippo by 0.8% during the first quarter. Stoic Point Capital Management LLC now owns 251,116 shares of the company's stock valued at $6,544,000 after purchasing an additional 2,100 shares during the last quarter. Quantinno Capital Management LP boosted its stake in shares of Hippo by 118.7% in the first quarter. Quantinno Capital Management LP now owns 17,529 shares of the company's stock worth $457,000 after acquiring an additional 9,515 shares during the period. Sei Investments Co. grew its position in shares of Hippo by 25.4% during the first quarter. Sei Investments Co. now owns 161,440 shares of the company's stock worth $4,207,000 after purchasing an additional 32,728 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Hippo by 8.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 394,907 shares of the company's stock worth $10,291,000 after purchasing an additional 29,993 shares in the last quarter. Finally, R Squared Ltd bought a new stake in shares of Hippo during the first quarter valued at approximately $253,000. 43.01% of the stock is currently owned by institutional investors.

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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