JMP Securities Reaffirms Market Outperform Rating for Hippo (NYSE:HIPO)

JMP Securities reaffirmed their market outperform rating on shares of Hippo (NYSE:HIPO) in a research report released on Monday morning, Benzinga reports. JMP Securities currently has a $25.00 target price on the stock.

Hippo Price Performance

Shares of Hippo stock opened at $19.76 on Monday. The firm has a market cap of $480.37 million, a price-to-earnings ratio of -1.70 and a beta of 1.57. The stock’s 50-day moving average is $16.94 and its 200 day moving average is $11.42. Hippo has a one year low of $6.64 and a one year high of $25.49.

Hippo (NYSE:HIPO) last posted its quarterly earnings results on Wednesday, March 6th. The company reported ($1.76) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.04) by $0.28. The firm had revenue of $64.50 million for the quarter, compared to analysts’ expectations of $57.00 million. Hippo had a negative return on equity of 61.14% and a negative net margin of 130.19%. On average, sell-side analysts expect that Hippo will post -4.09 EPS for the current fiscal year.

Insider Buying and Selling at Hippo

In other news, CRO Yuval Harry sold 14,938 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $17.20, for a total transaction of $256,933.60. Following the transaction, the executive now owns 145,162 shares of the company’s stock, valued at approximately $2,496,786.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Hippo news, CAO Anirudh Badia sold 1,735 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $18.39, for a total transaction of $31,906.65. Following the completion of the sale, the chief accounting officer now owns 122,454 shares in the company, valued at approximately $2,251,929.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Yuval Harry sold 14,938 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $17.20, for a total transaction of $256,933.60. Following the transaction, the executive now owns 145,162 shares in the company, valued at approximately $2,496,786.40. The disclosure for this sale can be found here. Insiders own 11.28% of the company’s stock.

Institutional Investors Weigh In On Hippo

Hedge funds and other institutional investors have recently made changes to their positions in the business. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Hippo during the 3rd quarter worth approximately $445,000. Barclays PLC grew its holdings in Hippo by 13.5% during the second quarter. Barclays PLC now owns 10,622 shares of the company’s stock worth $176,000 after buying an additional 1,263 shares in the last quarter. Legal & General Group Plc raised its position in Hippo by 18.7% in the 4th quarter. Legal & General Group Plc now owns 5,203 shares of the company’s stock valued at $71,000 after buying an additional 820 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Hippo during the first quarter worth about $59,000. Finally, Citigroup Inc. raised its position in Hippo by 985.3% in the second quarter. Citigroup Inc. now owns 3,462 shares of the company’s stock worth $57,000 after acquiring an additional 3,143 shares during the period. 43.01% of the stock is owned by institutional investors.

About Hippo

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.