Keefe, Bruyette & Woods Lowers Hippo (NYSE:HIPO) Price Target to $30.00

Hippo (NYSE:HIPO) had its price objective dropped by analysts at Keefe, Bruyette & Woods from $33.00 to $30.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 13.06% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Zacks Research upgraded shares of Hippo to a “hold” rating in a research report on Tuesday, March 3rd. Weiss Ratings upgraded shares of Hippo from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Thursday, March 5th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $36.50.

Hippo Stock Up 4.1%

HIPO stock opened at $26.54 on Tuesday. The stock has a market capitalization of $689.11 million, a P/E ratio of 12.40 and a beta of 1.61. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.11. Hippo has a 12 month low of $19.92 and a 12 month high of $38.98. The firm has a 50-day moving average price of $27.31 and a 200-day moving average price of $30.99.

Insider Activity

In other Hippo news, CEO Torben Ostergaard sold 6,105 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $28.57, for a total value of $174,419.85. Following the completion of the transaction, the chief executive officer directly owned 46,694 shares in the company, valued at approximately $1,334,047.58. This trade represents a 11.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard Mccathron sold 5,000 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $25.86, for a total value of $129,300.00. Following the completion of the transaction, the chief executive officer owned 615,650 shares of the company’s stock, valued at $15,920,709. This represents a 0.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 21,705 shares of company stock valued at $625,284 over the last quarter. Corporate insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Hippo

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its position in Hippo by 149.6% in the 3rd quarter. Principal Financial Group Inc. now owns 70,791 shares of the company’s stock valued at $2,560,000 after acquiring an additional 42,427 shares during the period. Hood River Capital Management LLC bought a new stake in shares of Hippo in the 2nd quarter valued at about $13,665,000. Huntleigh Advisors Inc. bought a new stake in shares of Hippo in the 3rd quarter valued at about $2,170,000. G2 Investment Partners Management LLC bought a new stake in shares of Hippo in the 2nd quarter valued at about $1,673,000. Finally, Boothbay Fund Management LLC grew its position in shares of Hippo by 500.9% in the 3rd quarter. Boothbay Fund Management LLC now owns 60,795 shares of the company’s stock valued at $2,198,000 after buying an additional 50,677 shares during the last quarter. 43.01% of the stock is currently owned by institutional investors and hedge funds.

Hippo Company Profile

Hippo Enterprises Inc is a technology-driven home insurance company that offers modernized homeowners insurance products through a digital-first platform. Leveraging data analytics, artificial intelligence and smart home devices, the company designs tailored coverage plans intended to streamline the underwriting process and deliver more comprehensive protection for homeowners. Hippo’s policies typically include standard dwelling coverage, personal property protection and liability insurance, along with optional add-ons such as water backup, home computer systems and equipment breakdown coverage.

Through its online portal and partner network of licensed insurance agents, Hippo provides policyholders with a range of services aimed at minimizing risk and preventing losses before they occur.