Hippo (NYSE:HIPO) Upgraded by Zacks Research to “Hold” Rating

by · The Markets Daily

Zacks Research upgraded shares of Hippo (NYSE:HIPO – Free Report) to a hold rating in a research report sent to investors on Tuesday,Zacks.com reports.

A number of other analysts have also recently weighed in on HIPO. Keefe, Bruyette & Woods raised their price objective on shares of Hippo from $33.00 to $34.00 and gave the stock a “market perform” rating in a report on Wednesday, December 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hippo in a research report on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Hippo currently has an average rating of “Hold” and a consensus target price of $37.50.

Check Out Our Latest Analysis on HIPO

Hippo Stock Down 4.5%

Shares of NYSE:HIPO traded down $1.26 on Tuesday, hitting $26.81. 57,799 shares of the company’s stock were exchanged, compared to its average volume of 143,262. Hippo has a 1-year low of $19.92 and a 1-year high of $38.98. The company has a market capitalization of $679.10 million, a PE ratio of 12.53 and a beta of 1.57. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.94 and a current ratio of 0.94. The firm’s 50-day moving average is $29.75 and its 200 day moving average is $32.50.

Insider Buying and Selling at Hippo

In related news, CEO Richard Mccathron sold 5,000 shares of Hippo stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $29.82, for a total transaction of $149,100.00. Following the completion of the transaction, the chief executive officer directly owned 452,704 shares of the company’s stock, valued at approximately $13,499,633.28. The trade was a 1.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Torben Ostergaard sold 6,105 shares of the business’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $28.57, for a total value of $174,419.85. Following the sale, the chief executive officer owned 46,694 shares in the company, valued at approximately $1,334,047.58. The trade was a 11.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 25,605 shares of company stock valued at $766,452. Corporate insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in HIPO. Hood River Capital Management LLC acquired a new stake in Hippo in the 2nd quarter valued at about $13,665,000. Stoic Point Capital Management LLC purchased a new position in shares of Hippo during the 4th quarter worth approximately $7,490,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Hippo during the 3rd quarter worth approximately $5,842,000. Geode Capital Management LLC lifted its stake in Hippo by 24.1% in the 4th quarter. Geode Capital Management LLC now owns 557,066 shares of the company’s stock valued at $16,760,000 after buying an additional 108,359 shares in the last quarter. Finally, Sei Investments Co. acquired a new stake in Hippo during the 2nd quarter valued at $2,810,000. Institutional investors and hedge funds own 43.01% of the company’s stock.

About Hippo

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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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