Keefe, Bruyette & Woods Reaffirms “Outperform” Rating for Hippo (NYSE:HIPO)

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

Separately, JMP Securities restated a “market outperform” rating and set a $25.00 price target on shares of Hippo in a report on Monday, April 15th.

Hippo Price Performance

NYSE:HIPO opened at $18.52 on Friday. The firm’s 50-day moving average price is $19.50 and its 200-day moving average price is $12.72. The company has a market capitalization of $450.22 million, a PE ratio of -1.84 and a beta of 1.41. Hippo has a 1-year low of $6.64 and a 1-year high of $25.49.

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

Insiders Place Their Bets

In other news, CAO Anirudh Badia sold 1,735 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $18.39, for a total value of $31,906.65. Following the completion of the sale, the chief accounting officer now directly owns 122,454 shares of the company’s stock, valued at $2,251,929.06. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CAO Anirudh Badia sold 1,735 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $18.39, for a total value of $31,906.65. Following the transaction, the chief accounting officer now directly owns 122,454 shares of the company’s stock, valued at approximately $2,251,929.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CRO Yuval Harry sold 14,938 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $17.20, for a total transaction 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 disclosure for this sale can be found here. Company insiders own 11.37% of the company’s stock.

Hedge Funds Weigh In On Hippo

Several institutional investors have recently added to or reduced their stakes in HIPO. Dynamic Technology Lab Private Ltd bought a new stake in Hippo in the fourth quarter worth $114,000. SVB Wealth LLC purchased a new stake in shares of Hippo during the 4th quarter valued at about $122,000. Steamboat Capital Partners LLC purchased a new stake in shares of Hippo during the 1st quarter valued at about $158,000. Trexquant Investment LP bought a new position in shares of Hippo in the 4th quarter valued at about $327,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in Hippo in the third quarter worth about $445,000. 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.