Hippo (NYSE:HIPO) Given Market Outperform Rating at JMP Securities

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

Hippo Trading Down 2.6 %

NYSE:HIPO opened at $19.76 on Monday. The company has a 50-day moving average price of $16.94 and a 200-day moving average price of $11.42. The stock has a market cap of $480.37 million, a price-to-earnings ratio of -1.70 and a beta of 1.57. Hippo has a 12 month low of $6.64 and a 12 month high of $25.49.

Hippo (NYSE:HIPO) last issued its quarterly earnings data on Wednesday, March 6th. The company reported ($1.76) EPS for the quarter, topping the consensus estimate of ($2.04) by $0.28. Hippo had a negative net margin of 130.19% and a negative return on equity of 61.14%. The business had revenue of $64.50 million during the quarter, compared to analyst estimates of $57.00 million. Equities analysts forecast that Hippo will post -4.09 EPS for the current fiscal year.

Insider Buying and Selling

In other Hippo news, CAO Anirudh Badia sold 1,735 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $18.39, for a total transaction of $31,906.65. Following the completion of the transaction, the chief accounting officer now owns 122,454 shares of the company’s stock, valued at $2,251,929.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Hippo news, CAO Anirudh Badia sold 1,735 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $18.39, for a total value of $31,906.65. Following the sale, the chief accounting officer now owns 122,454 shares in the company, valued at $2,251,929.06. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Yuval Harry sold 14,938 shares of Hippo stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $17.20, for a total transaction of $256,933.60. Following the transaction, the executive now owns 145,162 shares of the company’s stock, valued at $2,496,786.40. The disclosure for this sale can be found here. 11.28% of the stock is owned by insiders.

Institutional Investors Weigh In On Hippo

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Hippo by 135.5% in the 1st quarter. Vanguard Group Inc. now owns 15,042,378 shares of the company’s stock worth $29,934,000 after purchasing an additional 8,655,415 shares during the last quarter. State Street Corp raised its holdings in Hippo by 157.7% in the 2nd quarter. State Street Corp now owns 4,045,702 shares of the company’s stock worth $3,555,000 after acquiring an additional 2,475,532 shares during the last quarter. Renaissance Technologies LLC lifted its position in Hippo by 69.5% in the 2nd quarter. Renaissance Technologies LLC now owns 3,533,200 shares of the company’s stock valued at $3,104,000 after acquiring an additional 1,449,094 shares in the last quarter. Northern Trust Corp boosted its stake in Hippo by 237.3% during the 2nd quarter. Northern Trust Corp now owns 2,473,055 shares of the company’s stock valued at $2,174,000 after purchasing an additional 1,739,907 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Hippo by 4.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,877,537 shares of the company’s stock worth $3,737,000 after purchasing an additional 72,492 shares in the last quarter. 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.