JMP Securities Forecasts Strong Price Appreciation for Hippo (NYSE:HIPO) Stock

Hippo (NYSE:HIPO) had its target price increased by JMP Securities from $25.00 to $35.00 in a report issued on Friday morning,Benzinga reports. They currently have a market outperform rating on the stock.

Other equities analysts have also issued reports about the company. Jefferies Financial Group dropped their price target on Hippo from $29.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods upped their target price on Hippo from $20.00 to $21.00 and gave the stock a “market perform” rating in a research report on Monday, August 19th.

Hippo Stock Performance

Shares of HIPO opened at $32.99 on Friday. Hippo has a 52-week low of $7.75 and a 52-week high of $34.24. The business’s 50 day moving average price is $21.25 and its two-hundred day moving average price is $18.96. The firm has a market cap of $803.64 million, a PE ratio of -6.33 and a beta of 1.26.

Insider Transactions at Hippo

In related news, CEO Richard Mccathron sold 15,000 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $30.16, for a total value of $452,400.00. Following the completion of the sale, the chief executive officer now directly owns 339,623 shares of the company’s stock, valued at approximately $10,243,029.68. This represents a 4.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Assaf Wand sold 12,250 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $16.19, for a total value of $198,327.50. Following the completion of the sale, the chairman now directly owns 548,064 shares of the company’s stock, valued at $8,873,156.16. The trade was a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,657 shares of company stock valued at $990,571 over the last ninety days. 11.37% of the stock is owned by company insiders.

Institutional Investors Weigh In On Hippo

A number of institutional investors and hedge funds have recently bought and sold shares of HIPO. Barclays PLC grew its stake in Hippo by 276.5% in the 3rd quarter. Barclays PLC now owns 25,816 shares of the company’s stock valued at $435,000 after purchasing an additional 18,960 shares during the period. Geode Capital Management LLC grew its stake in Hippo by 6.3% in the 3rd quarter. Geode Capital Management LLC now owns 442,261 shares of the company’s stock valued at $7,467,000 after purchasing an additional 26,085 shares during the period. Public Employees Retirement System of Ohio bought a new position in Hippo in the 3rd quarter valued at $174,000. State Street Corp grew its stake in Hippo by 10.5% in the 3rd quarter. State Street Corp now owns 377,537 shares of the company’s stock valued at $6,373,000 after purchasing an additional 35,743 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new position in Hippo in the 3rd quarter valued at $864,000. 43.01% of the stock is owned by hedge funds and other 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.