JMP Securities Raises Hippo (NYSE:HIPO) Price Target to $35.00

Hippo (NYSE:HIPO) had its price target increased by research analysts at JMP Securities from $25.00 to $35.00 in a report issued on Friday,Benzinga reports. The firm currently has a “market outperform” rating on the stock. JMP Securities’ target price would suggest a potential upside of 2.91% from the company’s current price.

Several other equities research analysts also recently weighed in on HIPO. Jefferies Financial Group decreased their price objective on Hippo from $29.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Keefe, Bruyette & Woods lifted their price objective on shares of Hippo from $20.00 to $21.00 and gave the company a “market perform” rating in a research note on Monday, August 19th.

Hippo Price Performance

NYSE HIPO opened at $34.01 on Friday. The company has a fifty day moving average of $20.98 and a two-hundred day moving average of $18.86. Hippo has a 1 year low of $7.75 and a 1 year high of $34.11. The company has a market capitalization of $828.48 million, a PE ratio of -6.53 and a beta of 1.26.

Insider Activity at Hippo

In related news, CEO Richard Mccathron sold 10,000 shares of Hippo stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $25.55, for a total value of $255,500.00. Following the sale, the chief executive officer now directly owns 366,146 shares in the company, valued at $9,355,030.30. The trade was a 2.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Assaf Wand sold 12,250 shares of the company’s 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 directly owns 548,064 shares in the company, valued at $8,873,156.16. This represents a 2.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,657 shares of company stock worth $538,171 in the last three months. Insiders own 11.37% of the company’s stock.

Institutional Investors Weigh In On Hippo

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Hippo by 6.3% in the 1st 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. Geode Capital Management LLC increased its position in shares of Hippo by 6.3% in the third quarter. Geode Capital Management LLC now owns 442,261 shares of the company’s stock valued at $7,467,000 after buying an additional 26,085 shares in the last quarter. State Street Corp raised its stake in shares of Hippo by 10.5% during the 3rd quarter. State Street Corp now owns 377,537 shares of the company’s stock worth $6,373,000 after buying an additional 35,743 shares during the last quarter. Hood River Capital Management LLC raised its stake in shares of Hippo by 79.4% during the 1st quarter. Hood River Capital Management LLC now owns 326,343 shares of the company’s stock worth $5,962,000 after buying an additional 144,459 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Hippo by 9.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 151,240 shares of the company’s stock valued at $2,553,000 after acquiring an additional 13,586 shares during the last quarter. 43.01% of the stock is currently owned by hedge funds and other institutional investors.

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.