Hippo (NYSE:HIPO) Rating Lowered to Market Perform at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods lowered shares of Hippo (NYSE:HIPO) from an outperform rating to a market perform rating in a research note published on Monday morning, Marketbeat reports. Keefe, Bruyette & Woods currently has $20.00 target price on the stock, down from their prior target price of $22.00.

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

Hippo Trading Up 2.3 %

Shares of NYSE HIPO opened at $18.74 on Monday. The firm has a market cap of $457.82 million, a P/E ratio of -1.86 and a beta of 1.33. The business’s 50 day moving average is $17.14 and its 200-day moving average is $16.03. Hippo has a 1-year low of $6.64 and a 1-year high of $25.49.

Hippo (NYSE:HIPO) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($1.47) earnings per share for the quarter, missing the consensus estimate of ($1.41) by ($0.06). The firm had revenue of $85.10 million for the quarter, compared to the consensus estimate of $67.90 million. Hippo had a negative return on equity of 59.81% and a negative net margin of 93.69%. Analysts forecast that Hippo will post -4.98 EPS for the current year.

Insider Buying and Selling

In related news, CRO Yuval Harry sold 14,995 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $18.16, for a total transaction of $272,309.20. Following the completion of the sale, the executive now owns 123,993 shares of the company’s stock, valued at $2,251,712.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 11.37% of the stock is owned by company insiders.

Institutional Investors Weigh In On Hippo

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Trexquant Investment LP bought a new stake in shares of Hippo during the 4th quarter valued at approximately $327,000. Ieq Capital LLC bought a new stake in shares of Hippo during the fourth quarter worth $460,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Hippo during the fourth quarter worth $114,000. SVB Wealth LLC acquired a new position in shares of Hippo during the fourth quarter worth $122,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Hippo by 3.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,328 shares of the company’s stock valued at $427,000 after acquiring an additional 801 shares during the last quarter. 43.01% of the stock is currently 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.