Keefe, Bruyette & Woods Cuts Hippo (NYSE:HIPO) Price Target to $33.00

Hippo (NYSE:HIPO) had its price objective reduced by investment analysts at Keefe, Bruyette & Woods from $34.00 to $33.00 in a report released on Friday,Benzinga reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 21.68% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Hippo in a report on Thursday, January 22nd. Zacks Research raised shares of Hippo to a “hold” rating in a research report on Tuesday. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Hippo presently has a consensus rating of “Hold” and an average target price of $37.25.

Hippo Stock Performance

HIPO opened at $27.12 on Friday. The stock’s 50 day simple moving average is $29.67 and its 200-day simple moving average is $32.46. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.11. The stock has a market cap of $687.09 million, a PE ratio of 12.67 and a beta of 1.57. Hippo has a 1 year low of $19.92 and a 1 year high of $38.98.

Insiders Place Their Bets

In other news, insider Michael Stienstra sold 3,900 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $31.12, for a total transaction of $121,368.00. Following the transaction, the insider directly owned 71,281 shares in the company, valued at approximately $2,218,264.72. This represents a 5.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Torben Ostergaard sold 6,105 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $28.57, for a total transaction of $174,419.85. Following the completion of the sale, the chief executive officer directly owned 46,694 shares of the company’s stock, valued at approximately $1,334,047.58. This represents a 11.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 25,605 shares of company stock valued at $766,452 in the last 90 days. 10.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Hippo

Large investors have recently made changes to their positions in the company. AQR Capital Management LLC increased its position in Hippo by 8.3% in the first quarter. AQR Capital Management LLC now owns 16,193 shares of the company’s stock worth $414,000 after purchasing an additional 1,236 shares during the period. Police & Firemen s Retirement System of New Jersey boosted its stake in shares of Hippo by 12.2% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 4,481 shares of the company’s stock valued at $125,000 after purchasing an additional 489 shares during the last quarter. Entropy Technologies LP acquired a new stake in shares of Hippo during the 2nd quarter worth approximately $237,000. JPMorgan Chase & Co. raised its stake in shares of Hippo by 30.5% during the second quarter. JPMorgan Chase & Co. now owns 208,472 shares of the company’s stock worth $5,823,000 after buying an additional 48,677 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Hippo by 6.3% during the second quarter. American Century Companies Inc. now owns 43,417 shares of the company’s stock worth $1,213,000 after buying an additional 2,588 shares during the last quarter. Institutional investors and hedge funds own 43.01% of the company’s stock.

Hippo Company Profile

Hippo Enterprises Inc is a technology-driven home insurance company that offers modernized homeowners insurance products through a digital-first platform. Leveraging data analytics, artificial intelligence and smart home devices, the company designs tailored coverage plans intended to streamline the underwriting process and deliver more comprehensive protection for homeowners. Hippo’s policies typically include standard dwelling coverage, personal property protection and liability insurance, along with optional add-ons such as water backup, home computer systems and equipment breakdown coverage.

Through its online portal and partner network of licensed insurance agents, Hippo provides policyholders with a range of services aimed at minimizing risk and preventing losses before they occur.