Hippo (NYSE:HIPO) Shares Up 1% – Should You Buy?

Hippo Holdings Inc. (NYSE:HIPO)’s stock price shot up 1% during trading on Tuesday . The company traded as high as $25.39 and last traded at $24.7760. 102,260 shares changed hands during mid-day trading, a decline of 12% from the average session volume of 116,736 shares. The stock had previously closed at $24.54.

Analyst Ratings Changes

A number of analysts have recently issued reports on HIPO shares. B. Riley Financial began coverage on shares of Hippo in a report on Friday, April 17th. They set a “buy” rating and a $38.00 price objective for the company. Weiss Ratings upgraded Hippo from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 4th. Zacks Research raised Hippo to a “hold” rating in a research note on Tuesday, March 3rd. Finally, Keefe, Bruyette & Woods upped their price objective on Hippo from $30.00 to $32.00 and gave the stock a “market perform” rating in a report on Thursday, May 7th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Hippo presently has a consensus rating of “Moderate Buy” and an average price target of $38.33.

Hippo Trading Up 1.0%

The stock has a market capitalization of $645.17 million, a P/E ratio of 5.74 and a beta of 1.51. The stock’s fifty day moving average price is $26.60 and its two-hundred day moving average price is $28.46. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.11.

Hippo (NYSE:HIPO) last released its earnings results on Wednesday, March 4th. The company reported $0.67 EPS for the quarter. The company had revenue of $120.40 million for the quarter. Hippo had a net margin of 23.45% and a return on equity of 12.17%. Equities research analysts forecast that Hippo Holdings Inc. will post 1.03 EPS for the current year.

Insider Transactions at Hippo

In other news, CEO Richard Mccathron sold 5,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $27.10, for a total transaction of $135,500.00. Following the transaction, the chief executive officer directly owned 604,212 shares of the company’s stock, valued at approximately $16,374,145.20. This trade represents a 0.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Torben Ostergaard sold 3,667 shares of Hippo stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $26.10, for a total value of $95,708.70. Following the completion of the transaction, the chief executive officer owned 65,673 shares in the company, valued at approximately $1,714,065.30. This represents a 5.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 13,667 shares of company stock worth $361,459 over the last ninety days. Insiders own 10.80% of the company’s stock.

Institutional Trading of Hippo

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. increased its stake in shares of Hippo by 149.6% in the third quarter. Principal Financial Group Inc. now owns 70,791 shares of the company’s stock worth $2,560,000 after buying an additional 42,427 shares during the period. Boothbay Fund Management LLC boosted its position in Hippo by 500.9% during the 3rd quarter. Boothbay Fund Management LLC now owns 60,795 shares of the company’s stock valued at $2,198,000 after buying an additional 50,677 shares during the period. Tudor Investment Corp ET AL bought a new stake in Hippo in the 3rd quarter worth $963,000. Gator Capital Management LLC bought a new stake in Hippo in the 3rd quarter worth $239,000. Finally, Sei Investments Co. increased its position in shares of Hippo by 25.4% in the first quarter. Sei Investments Co. now owns 161,440 shares of the company’s stock valued at $4,207,000 after acquiring an additional 32,728 shares during the period. Institutional investors own 43.01% of the company’s stock.

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.