Hippo (NYSE:HIPO) Reaches New 52-Week High – Should You Buy?

Hippo Holdings Inc. (NYSE:HIPO) hit a new 52-week high during trading on Friday . The company traded as high as $27.89 and last traded at $27.89, with a volume of 4471 shares trading hands. The stock had previously closed at $23.62.

Analysts Set New Price Targets

HIPO has been the subject of a number of analyst reports. Keefe, Bruyette & Woods lifted their target price on shares of Hippo from $20.00 to $21.00 and gave the company a “market perform” rating in a research note on Monday, August 19th. Jefferies Financial Group reduced their price objective on shares of Hippo from $29.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th.

Hippo Stock Performance

The company’s 50 day moving average is $18.90 and its 200 day moving average is $18.26. The stock has a market capitalization of $701.50 million, a price-to-earnings ratio of -3.96 and a beta of 1.26.

Hippo (NYSE:HIPO) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($1.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.48) by ($0.16). The company had revenue of $89.60 million during the quarter, compared to analyst estimates of $85.40 million. Hippo had a negative return on equity of 46.46% and a negative net margin of 57.80%. During the same quarter in the prior year, the business earned ($4.61) earnings per share. On average, equities research analysts anticipate that Hippo Holdings Inc. will post -4.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CRO Yuval Harry sold 2,958 shares of Hippo stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $18.49, for a total transaction of $54,693.42. Following the sale, the executive now directly owns 104,247 shares in the company, valued at approximately $1,927,527.03. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Chairman Assaf Wand sold 12,250 shares of Hippo stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $16.19, for a total transaction of $198,327.50. Following the sale, the chairman now directly owns 548,064 shares in the company, valued at approximately $8,873,156.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Yuval Harry sold 2,958 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $18.49, for a total transaction of $54,693.42. Following the completion of the transaction, the executive now owns 104,247 shares in the company, valued at approximately $1,927,527.03. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,179 shares of company stock worth $341,260 in the last ninety days. Insiders own 11.37% of the company’s stock.

Hedge Funds Weigh In On Hippo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Hippo by 6.3% in the first quarter. Vanguard Group Inc. now owns 759,254 shares of the company’s stock worth $13,872,000 after acquiring an additional 45,058 shares during the last quarter. Hood River Capital Management LLC raised its stake in shares of Hippo by 79.4% in the first quarter. Hood River Capital Management LLC now owns 326,343 shares of the company’s stock worth $5,962,000 after acquiring an additional 144,459 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Hippo by 37.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,924 shares of the company’s stock worth $1,113,000 after acquiring an additional 17,978 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Hippo by 99.2% in the second quarter. Bank of New York Mellon Corp now owns 61,089 shares of the company’s stock worth $1,050,000 after acquiring an additional 30,418 shares during the last quarter. Finally, Dimensional Fund Advisors LP bought a new position in shares of Hippo in the second quarter worth about $629,000. 43.01% of the stock is currently owned by institutional investors and hedge funds.

Hippo Company Profile

Hippo Holdings Inc provides property and casualty insurance products to individuals and business customers primarily in the United States. The company operates through three segments: Services, Insurance-as-a-Service, and Hippo Home Insurance Program. Its insurance products include homeowners' insurance against risks of fire, wind, and theft, as well as other personal lines policies from third party carriers; and personal and commercial, as well as home, auto, cyber, small business, life, specialty lines, and other insurance products.