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

Hippo (NYSE:HIPO) had its price objective reduced by research analysts at Jefferies Financial Group from $29.00 to $28.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price objective points to a potential upside of 65.78% from the stock’s previous close.

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

Hippo Price Performance

NYSE HIPO traded down $0.47 during trading hours on Wednesday, reaching $16.89. The company’s stock had a trading volume of 24,462 shares, compared to its average volume of 154,080. The firm has a market capitalization of $412.62 million, a price-to-earnings ratio of -1.69 and a beta of 1.34. The company’s 50-day moving average is $18.11 and its two-hundred day moving average is $18.36. Hippo has a 1-year low of $6.91 and a 1-year high of $25.49.

Hippo (NYSE:HIPO) last released its earnings results on Thursday, August 8th. The company reported ($1.64) EPS for the quarter, missing analysts’ consensus estimates of ($1.48) by ($0.16). The company had revenue of $89.60 million for the quarter, compared to analysts’ expectations 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 period in the prior year, the firm earned ($4.61) EPS. Equities analysts forecast that Hippo will post -4.68 EPS for the current fiscal year.

Insider Buying and Selling at Hippo

In related news, Chairman Assaf Wand sold 12,250 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $16.19, for a total transaction 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 approximately $8,873,156.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CRO Yuval Harry sold 2,958 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $18.49, for a total transaction of $54,693.42. Following the completion of the transaction, the executive now directly owns 104,247 shares in the company, valued at $1,927,527.03. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Assaf Wand sold 12,250 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $16.19, for a total transaction of $198,327.50. Following the sale, the chairman now owns 548,064 shares in the company, valued at $8,873,156.16. 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 worth $278,762 over the last quarter. 11.37% of the stock is currently owned by company insiders.

Institutional Trading of Hippo

Several hedge funds have recently modified their holdings of the stock. Steamboat Capital Partners LLC purchased a new stake in shares of Hippo during the first quarter worth approximately $158,000. SG Americas Securities LLC acquired a new position in Hippo during the third quarter worth approximately $174,000. AQR Capital Management LLC purchased a new stake in Hippo in the second quarter valued at approximately $194,000. PEAK6 Investments LLC acquired a new stake in shares of Hippo in the first quarter valued at approximately $277,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Hippo during the second quarter worth approximately $335,000. 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.