Hippo (NYSE:HIPO) Price Target Lowered to $28.00 at Jefferies Financial Group

Hippo (NYSE:HIPO) had its target price lowered by Jefferies Financial Group from $29.00 to $28.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, Keefe, Bruyette & Woods lifted their price objective on Hippo from $20.00 to $21.00 and gave the stock a market perform rating in a report on Monday, August 19th.

Hippo Stock Down 3.3 %

Shares of Hippo stock opened at $16.78 on Wednesday. Hippo has a 12-month low of $6.91 and a 12-month high of $25.49. The stock has a 50 day moving average price of $18.09 and a two-hundred day moving average price of $18.35.

Hippo (NYSE:HIPO) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $85.40 million. Hippo had a negative return on equity of 46.46% and a negative net margin of 57.80%. During the same quarter in the previous year, the firm posted ($4.61) earnings per share. On average, analysts predict that Hippo will post -4.68 EPS for the current fiscal year.

Insider Activity

In other Hippo news, CRO Yuval Harry sold 2,958 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $18.49, for a total value of $54,693.42. Following the transaction, the executive now directly owns 104,247 shares in the company, valued at approximately $1,927,527.03. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman Assaf Wand sold 12,250 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $16.19, for a total value of $198,327.50. Following the transaction, the chairman now owns 548,064 shares of the company’s stock, valued at $8,873,156.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Yuval Harry sold 2,958 shares of Hippo stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $18.49, for a total value of $54,693.42. Following the sale, the executive now directly owns 104,247 shares of the company’s stock, valued at approximately $1,927,527.03. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,627 shares of company stock valued at $278,762 over the last three months. 11.37% of the stock is owned by insiders.

Hedge Funds Weigh In On Hippo

Institutional investors have recently modified their holdings of the stock. Steamboat Capital Partners LLC acquired a new stake in shares of Hippo in the 1st quarter valued at approximately $158,000. Vanguard Group Inc. increased its stake in Hippo by 6.3% in the first quarter. Vanguard Group Inc. now owns 759,254 shares of the company’s stock valued at $13,872,000 after purchasing an additional 45,058 shares in the last quarter. PEAK6 Investments LLC acquired a new stake in Hippo in the first quarter worth $277,000. Hood River Capital Management LLC boosted its position in shares of Hippo by 79.4% during the first quarter. Hood River Capital Management LLC now owns 326,343 shares of the company’s stock worth $5,962,000 after purchasing an additional 144,459 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings 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 buying an additional 801 shares during the period. 43.01% of the stock is currently owned by institutional investors and hedge funds.

About Hippo

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.