Brokerages Set Hippo Holdings Inc. (NYSE:HIPO) PT at $37.50

Shares of Hippo Holdings Inc. (NYSE:HIPO) have earned an average recommendation of “Moderate Buy” from the seven analysts that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $37.50.

A number of brokerages recently issued reports on HIPO. Keefe, Bruyette & Woods lifted their price objective on shares of Hippo from $33.00 to $34.00 and gave the company a “market perform” rating in a research note on Wednesday, December 10th. Zacks Research raised Hippo from a “hold” rating to a “strong-buy” rating in a report on Friday, November 14th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Hippo in a report on Thursday, January 22nd.

Hippo Trading Up 1.1%

Shares of Hippo stock opened at $28.00 on Monday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.11. Hippo has a 12-month low of $19.92 and a 12-month high of $38.98. The company has a market capitalization of $709.24 million, a price-to-earnings ratio of 13.08 and a beta of 1.57. The firm’s 50-day moving average price is $29.75 and its two-hundred day moving average price is $32.50.

Insiders Place Their Bets

In other news, CEO Richard Mccathron sold 5,000 shares of the stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $29.82, for a total value of $149,100.00. Following the completion of the transaction, the chief executive officer owned 452,704 shares of the company’s stock, valued at approximately $13,499,633.28. This represents a 1.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Torben Ostergaard sold 6,105 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $28.57, for a total transaction of $174,419.85. Following the completion of 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 90 days, insiders sold 25,605 shares of company stock valued at $766,452. 10.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC boosted its holdings in shares of Hippo by 8.3% during the 1st quarter. AQR Capital Management LLC now owns 16,193 shares of the company’s stock valued at $414,000 after acquiring an additional 1,236 shares in the last quarter. Police & Firemen s Retirement System of New Jersey raised its position in Hippo by 12.2% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 4,481 shares of the company’s stock valued at $125,000 after purchasing an additional 489 shares during the last quarter. Entropy Technologies LP bought a new position in Hippo in the second quarter valued at about $237,000. JPMorgan Chase & Co. boosted its stake in shares of Hippo by 30.5% during the second quarter. JPMorgan Chase & Co. now owns 208,472 shares of the company’s stock valued at $5,823,000 after purchasing an additional 48,677 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Hippo by 6.3% during the second quarter. American Century Companies Inc. now owns 43,417 shares of the company’s stock worth $1,213,000 after purchasing an additional 2,588 shares during the last quarter. 43.01% of the stock is currently owned by institutional investors and hedge funds.

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.