Hippo (NYSE:HIPO) Coverage Initiated at B. Riley Financial

Stock analysts at B. Riley Financial initiated coverage on shares of Hippo (NYSE:HIPO) in a research note issued on Friday, MarketBeat reports. The brokerage set a “buy” rating and a $38.00 price target on the stock. B. Riley Financial’s price target would suggest a potential upside of 31.28% from the company’s previous close.

Several other equities analysts have also recently issued reports on HIPO. Keefe, Bruyette & Woods dropped their price target on Hippo from $33.00 to $30.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 7th. Zacks Research upgraded Hippo to a “hold” rating in a research report on Tuesday, March 3rd. Finally, Weiss Ratings upgraded Hippo from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Thursday, March 5th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.67.

Hippo Stock Up 3.7%

Shares of HIPO stock opened at $28.95 on Friday. The firm has a market capitalization of $751.70 million, a PE ratio of 13.53 and a beta of 1.61. Hippo has a fifty-two week low of $19.92 and a fifty-two week high of $38.98. The stock’s 50-day simple moving average is $26.92 and its 200-day simple moving average is $30.58. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.94 and a current ratio of 0.94.

Insider Activity at Hippo

In other Hippo news, CEO Richard Mccathron sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $26.05, for a total transaction of $130,250.00. Following the transaction, the chief executive officer owned 610,650 shares in the company, valued at approximately $15,907,432.50. The trade was a 0.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Torben Ostergaard sold 6,105 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer owned 46,694 shares in the company, valued at $1,334,047.58. The trade was a 11.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 21,705 shares of company stock worth $597,934 in the last quarter. 10.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Hippo

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd acquired a new position in Hippo during the 4th quarter worth approximately $26,000. Altshuler Shaham Ltd increased its position in Hippo by 270.4% during the 4th quarter. Altshuler Shaham Ltd now owns 1,000 shares of the company’s stock worth $30,000 after purchasing an additional 730 shares during the period. Quantbot Technologies LP acquired a new position in Hippo during the 2nd quarter worth approximately $33,000. AlphaQuest LLC increased its position in Hippo by 109.5% during the 3rd quarter. AlphaQuest LLC now owns 1,251 shares of the company’s stock worth $45,000 after purchasing an additional 654 shares during the period. Finally, Torren Management LLC acquired a new position in Hippo during the 4th quarter worth approximately $55,000. Institutional investors and hedge funds 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.