Hippo (NYSE:HIPO) PT Lowered to $28.00

Hippo (NYSE:HIPO) had its target price dropped by equities researchers at Jefferies Financial Group from $29.00 to $28.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s price target suggests a potential upside of 70.68% from the company’s current price.

Separately, Keefe, Bruyette & Woods raised their target price on shares of Hippo from $20.00 to $21.00 and gave the company a “market perform” rating in a report on Monday, August 19th.

Hippo Price Performance

Shares of HIPO opened at $16.41 on Wednesday. The stock’s 50-day simple moving average is $18.09 and its 200 day simple moving average is $18.34. Hippo has a 52-week low of $6.91 and a 52-week high of $25.49.

Hippo (NYSE:HIPO) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($1.64) EPS for the quarter, missing analysts’ consensus estimates of ($1.48) by ($0.16). The business had revenue of $89.60 million for the quarter, compared to the consensus estimate of $85.40 million. Hippo had a negative net margin of 57.80% and a negative return on equity of 46.46%. During the same quarter in the previous year, the business earned ($4.61) earnings per share. Sell-side analysts anticipate that Hippo will post -4.68 earnings per share for the current year.

Insider Buying and Selling at Hippo

In other news, CRO Yuval Harry sold 1,419 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $18.14, for a total value of $25,740.66. Following the sale, the executive now directly owns 121,753 shares of the company’s stock, valued at $2,208,599.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Assaf Wand sold 12,250 shares of Hippo stock in a transaction that occurred on 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 transaction, the chairman now owns 548,064 shares in the company, valued at approximately $8,873,156.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Yuval Harry sold 1,419 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $18.14, for a total value of $25,740.66. Following the sale, the executive now owns 121,753 shares in the company, valued at approximately $2,208,599.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,627 shares of company stock worth $278,762. 11.37% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HIPO. Steamboat Capital Partners LLC purchased a new position in shares of Hippo during the first quarter worth about $158,000. SG Americas Securities LLC acquired a new position in Hippo during the third quarter worth approximately $174,000. AQR Capital Management LLC purchased a new stake in Hippo in the second quarter valued at approximately $194,000. PEAK6 Investments LLC acquired a new stake in shares of Hippo in the first quarter valued at approximately $277,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Hippo during the second quarter worth approximately $335,000. 43.01% of the stock is 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.