Hippo (NYSE:HIPO) Sets New 52-Week High - What's Next?

Key Points

• Hippo shares reached a new 52-week high of $39.39, closing near $39.19 and above the consensus analyst price target of $38.25.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating; B. Riley raised its price target to $41.50, while other analysts maintained or moved to more cautious ratings.
• Hippo reported a quarterly earnings beat, posting $0.79 EPS versus expectations for a $0.17 loss and revenue of $144.7 million versus the $137.4 million estimate. Insiders have sold 19,007 shares worth about $623,000 over the past 90 days.

Shares of Hippo Holdings Inc. (NYSE:HIPO - Get Free Report) reached a new 52-week high on Thursday. The company traded as high as $39.39 and last traded at $39.1940, with a volume of 44,939 shares trading hands. The stock had previously closed at $38.39.

Analysts Set New Price Targets

A number of analysts recently weighed in on HIPO shares. B. Riley Financial reissued a "buy" rating and issued a $41.50 price objective (up from $38.00) on shares of Hippo in a research report on Monday, August 3rd. Keefe, Bruyette & Woods boosted their target price on Hippo from $33.00 to $35.00 and gave the company a "market perform" rating in a research report on Thursday, August 6th. Zacks Research cut Hippo from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 2nd. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Hippo in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Hippo presently has a consensus rating of "Moderate Buy" and a consensus price target of $38.25.

Hippo Price Performance

The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.10. The firm has a market cap of $1.02 billion, a P/E ratio of 8.27 and a beta of 1.55. The firm has a 50-day simple moving average of $32.90 and a 200-day simple moving average of $29.54.

Hippo (NYSE:HIPO - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of ($0.17) by $0.96. Hippo had a return on equity of 10.68% and a net margin of 23.92%. The firm had revenue of $144.70 million during the quarter, compared to analyst estimates of $137.44 million. As a group, analysts forecast that Hippo Holdings Inc. will post 1.50 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Torben Ostergaard sold 1,169 shares of the stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $35.03, for a total value of $40,950.07. Following the transaction, the chief executive officer directly owned 60,655 shares of the company's stock, valued at approximately $2,124,744.65. This represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Guy Zeltser sold 1,669 shares of the firm's stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $30.98, for a total value of $51,705.62. Following the completion of the transaction, the chief financial officer owned 120,563 shares of the company's stock, valued at approximately $3,735,041.74. The trade was a 1.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 19,007 shares of company stock valued at $623,283. 4.48% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hippo

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC increased its stake in shares of Hippo by 306.0% in the third quarter. Nisa Investment Advisors LLC now owns 3,894 shares of the company's stock worth $120,000 after acquiring an additional 2,935 shares during the period. State of Alaska Department of Revenue purchased a new position in shares of Hippo during the third quarter worth $31,000. State Street Corp lifted its position in Hippo by 9.1% during the second quarter. State Street Corp now owns 443,716 shares of the company's stock valued at $12,539,000 after purchasing an additional 37,097 shares during the period. Citadel Advisors LLC lifted its position in Hippo by 90.5% during the second quarter. Citadel Advisors LLC now owns 140,734 shares of the company's stock valued at $3,977,000 after purchasing an additional 66,863 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in Hippo in the second quarter valued at $178,000. Institutional investors and hedge funds own 43.01% of the company's stock.

About Hippo

Hippo Holdings Inc is a technology-focused insurance company that provides home insurance and related services to homeowners in the United States. Operating under the Hippo brand, the company uses digital tools, data analytics and a streamlined online experience to help customers obtain coverage, manage policies and receive support.

Hippo's offerings are designed to protect residential properties and personal belongings against covered risks, while also emphasizing proactive home protection.

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