Hippo (NYSE:HIPO) Reaches New 12-Month High – Still a Buy?

Hippo Holdings Inc. (NYSE:HIPO)’s stock price reached 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 traded. The stock had previously closed at $23.62.

Analyst Upgrades and Downgrades

HIPO has been the topic of several analyst reports. Jefferies Financial Group lowered their target price on shares of Hippo from $29.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods boosted their price objective on shares of Hippo from $20.00 to $21.00 and gave the stock a “market perform” rating in a report on Monday, August 19th.

Hippo Price Performance

The firm’s fifty day moving average price is $18.74 and its 200-day moving average price is $18.22.

Hippo (NYSE:HIPO) last issued its earnings results on Thursday, August 8th. The company reported ($1.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.48) by ($0.16). Hippo had a negative return on equity of 46.46% and a negative net margin of 57.80%. The firm had revenue of $89.60 million for the quarter, compared to analyst estimates of $85.40 million. During the same quarter in the previous year, the firm posted ($4.61) earnings per share. Sell-side analysts expect that Hippo Holdings Inc. will post -4.6 earnings per share for the current fiscal year.

Insider Activity at Hippo

In other news, CRO Yuval Harry sold 2,958 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $18.49, for a total transaction of $54,693.42. Following the completion of the sale, the executive now directly owns 104,247 shares in the company, valued at approximately $1,927,527.03. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CRO Yuval Harry sold 2,958 shares of Hippo stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $18.49, for a total transaction of $54,693.42. Following the transaction, the executive now owns 104,247 shares in the company, valued at approximately $1,927,527.03. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Assaf Wand sold 12,250 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $16.19, for a total value of $198,327.50. Following the completion of the sale, the chairman now owns 548,064 shares in the company, valued at $8,873,156.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,627 shares of company stock worth $278,762 in the last ninety days. 11.37% of the stock is owned by company insiders.

Institutional Trading of Hippo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HIPO. Vanguard Group Inc. boosted its stake in shares of Hippo by 6.3% in the 1st quarter. Vanguard Group Inc. now owns 759,254 shares of the company’s stock worth $13,872,000 after buying an additional 45,058 shares during the last quarter. Hood River Capital Management LLC raised its position in 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 period. Bank of New York Mellon Corp raised its holdings in shares of Hippo by 99.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 61,089 shares of the company’s stock worth $1,050,000 after purchasing an additional 30,418 shares during the period. Dimensional Fund Advisors LP purchased a new stake in Hippo in the second quarter worth $629,000. Finally, Rhumbline Advisers lifted its holdings in Hippo by 93.7% during the second quarter. Rhumbline Advisers now owns 28,738 shares of the company’s stock valued at $494,000 after purchasing an additional 13,899 shares during the last quarter. 43.01% of the stock is owned by institutional investors.

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.