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

Hippo Holdings Inc. (NYSE:HIPO - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $35.44 and last traded at $30.14, with a volume of 946508 shares changing hands. The stock had previously closed at $29.59.

Analysts Set New Price Targets

Separately, JMP Securities increased their price objective on Hippo from $25.00 to $35.00 and gave the stock a "market outperform" rating in a report on Friday, November 22nd.

Hippo Trading Down 10.9 %

The company's fifty day simple moving average is $27.99 and its 200 day simple moving average is $24.65. The firm has a market capitalization of $655.41 million, a P/E ratio of -5.16 and a beta of 1.50.

Hippo (NYSE:HIPO - Get Free Report) last released its quarterly earnings results on Wednesday, March 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.15) by $0.08. The company had revenue of $102.00 million during the quarter, compared to the consensus estimate of $97.83 million. Hippo had a negative net margin of 37.94% and a negative return on equity of 36.38%. On average, analysts predict that Hippo Holdings Inc. will post -3.63 earnings per share for the current fiscal year.

Remove Ads

Insider Activity at Hippo

In related news, CEO Torben Ostergaard sold 2,092 shares of the business's stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $26.46, for a total transaction of $55,354.32. Following the sale, the chief executive officer now owns 104,332 shares of the company's stock, valued at $2,760,624.72. The trade was a 1.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael Stienstra sold 2,329 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $30.02, for a total transaction of $69,916.58. Following the transaction, the insider now directly owns 59,648 shares of the company's stock, valued at $1,790,632.96. This represents a 3.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 93,383 shares of company stock worth $2,574,135 over the last ninety days. 11.37% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in HIPO. Caz Investments LP increased its holdings in shares of Hippo by 100.0% during the third quarter. Caz Investments LP now owns 5,600 shares of the company's stock valued at $95,000 after acquiring an additional 2,800 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in Hippo during the 4th quarter valued at about $118,000. Public Employees Retirement System of Ohio bought a new stake in Hippo during the 3rd quarter valued at about $174,000. The Manufacturers Life Insurance Company purchased a new position in Hippo in the fourth quarter worth about $200,000. Finally, Two Sigma Advisers LP bought a new position in shares of Hippo in the fourth quarter worth approximately $200,000. Hedge funds and other institutional investors own 43.01% of the company's stock.

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.