Hippo (NYSE:HIPO) Rating Reiterated by Keefe, Bruyette & Woods

Hippo (NYSE:HIPO)‘s stock had its “outperform” rating restated by research analysts at Keefe, Bruyette & Woods in a report released on Friday, Benzinga reports. They presently have a $22.00 price objective on the stock, up from their previous price objective of $21.00. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 18.79% from the stock’s previous close.

Separately, JMP Securities reaffirmed a “market outperform” rating and issued a $25.00 target price on shares of Hippo in a research note on Monday, April 15th.

Hippo Price Performance

HIPO opened at $18.52 on Friday. The firm has a market cap of $450.22 million, a P/E ratio of -1.84 and a beta of 1.41. The business’s fifty day simple moving average is $19.50 and its 200 day simple moving average is $12.72. Hippo has a 52 week low of $6.64 and a 52 week high of $25.49.

Hippo (NYSE:HIPO) last released its quarterly earnings results on Wednesday, March 6th. The company reported ($1.76) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.04) by $0.28. The company had revenue of $64.50 million for the quarter, compared to analysts’ expectations of $57.00 million. Hippo had a negative net margin of 93.69% and a negative return on equity of 59.81%. As a group, equities analysts expect that Hippo will post -4.09 EPS for the current fiscal year.

Insider Activity

In related news, CRO Yuval Harry sold 14,938 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $17.20, for a total value of $256,933.60. Following the sale, the executive now directly owns 145,162 shares of the company’s stock, valued at $2,496,786.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CRO Yuval Harry sold 14,938 shares of Hippo stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $17.20, for a total value of $256,933.60. Following the transaction, the executive now owns 145,162 shares in the company, valued at $2,496,786.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Anirudh Badia sold 1,735 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $18.39, for a total value of $31,906.65. Following the sale, the chief accounting officer now owns 122,454 shares of the company’s stock, valued at $2,251,929.06. The disclosure for this sale can be found here. Corporate insiders own 11.37% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of HIPO. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Hippo during the third quarter worth approximately $445,000. Ieq Capital LLC acquired a new position in shares of Hippo during the 4th quarter valued at $460,000. Trexquant Investment LP purchased a new stake in Hippo during the 4th quarter worth $327,000. SVB Wealth LLC acquired a new stake in Hippo in the 4th quarter valued at $122,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Hippo in the fourth quarter valued at about $114,000. Hedge funds and other institutional investors own 43.01% of the company’s stock.

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.