Hippo (NYSE:HIPO) Receives Market Outperform Rating from JMP Securities

JMP Securities reissued their market outperform rating on shares of Hippo (NYSE:HIPO) in a report published on Monday, Benzinga reports. They currently have a $25.00 target price on the stock.

Hippo Trading Down 6.5 %

HIPO stock opened at $21.02 on Monday. The stock has a 50-day moving average price of $16.27 and a two-hundred day moving average price of $11.20. Hippo has a 12-month low of $6.64 and a 12-month high of $25.49. The company has a market cap of $511.00 million, a PE ratio of -1.81 and a beta of 1.57.

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, beating analysts’ consensus estimates of ($2.04) by $0.28. Hippo had a negative return on equity of 61.14% and a negative net margin of 130.19%. The firm had revenue of $64.50 million during the quarter, compared to the consensus estimate of $57.00 million. Equities analysts forecast that Hippo will post -4.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other Hippo news, CAO Anirudh Badia sold 1,735 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $18.39, for a total transaction of $31,906.65. Following the transaction, the chief accounting officer now owns 122,454 shares in the company, valued at $2,251,929.06. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CAO Anirudh Badia sold 1,735 shares of the business’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 transaction, the chief accounting officer now owns 122,454 shares in the company, valued at $2,251,929.06. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CRO Yuval Harry sold 14,938 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $17.20, for a total value of $256,933.60. Following the completion of 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. 11.28% of the stock is currently owned by insiders.

Institutional Trading of Hippo

Hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada bought a new stake in Hippo in the first quarter valued at about $34,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Hippo during the second quarter valued at approximately $37,000. Cubist Systematic Strategies LLC grew its holdings in shares of Hippo by 60.0% during the third quarter. Cubist Systematic Strategies LLC now owns 2,080 shares of the company’s stock valued at $39,000 after purchasing an additional 780 shares during the last quarter. UBS Group AG grew its holdings in shares of Hippo by 219.1% during the second quarter. UBS Group AG now owns 49,453 shares of the company’s stock valued at $43,000 after purchasing an additional 33,957 shares during the last quarter. Finally, Citigroup Inc. grew its holdings in shares of Hippo by 985.3% during the second quarter. Citigroup Inc. now owns 3,462 shares of the company’s stock valued at $57,000 after purchasing an additional 3,143 shares during the last quarter. 43.01% of the stock is owned by institutional investors.

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.