Hippo (NYSE:HIPO) Stock Price Up 10.2% - Time to Buy?

Shares of Hippo Holdings Inc. (NYSE:HIPO - Get Free Report) were up 10.2% on Friday . The stock traded as high as $27.74 and last traded at $27.69. Approximately 183,060 shares traded hands during trading, an increase of 6% from the average daily volume of 173,151 shares. The stock had previously closed at $25.13.

Analysts Set New Price Targets

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

Hippo Stock Performance

The firm has a market cap of $697.63 million, a price-to-earnings ratio of -5.32 and a beta of 1.48. The company has a 50 day moving average price of $23.39 and a 200 day moving average price of $26.55.

Hippo (NYSE:HIPO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($1.91) earnings per share for the quarter, missing analysts' consensus estimates of ($1.41) by ($0.50). Hippo had a negative net margin of 37.94% and a negative return on equity of 36.38%. The firm had revenue of $110.30 million during the quarter, compared to analyst estimates of $106.70 million. On average, research analysts forecast that Hippo Holdings Inc. will post -3.63 earnings per share for the current year.

Institutional Trading of Hippo

Hedge funds have recently modified their holdings of the stock. Invesco Ltd. increased its holdings in Hippo by 1.5% in the fourth quarter. Invesco Ltd. now owns 35,866 shares of the company's stock valued at $960,000 after buying an additional 539 shares during the last quarter. AQR Capital Management LLC increased its stake in Hippo by 8.3% in the first quarter. AQR Capital Management LLC now owns 16,193 shares of the company's stock valued at $414,000 after purchasing an additional 1,236 shares during the period. Public Employees Retirement System of Ohio raised its stake in Hippo by 13.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 11,736 shares of the company's stock valued at $314,000 after acquiring an additional 1,400 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Hippo by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 152,664 shares of the company's stock worth $4,087,000 after purchasing an additional 1,424 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Hippo by 5.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,768 shares of the company's stock valued at $717,000 after acquiring an additional 1,434 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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