Hippo (NYSE:HIPO) Price Target Raised to $35.00

Hippo (NYSE:HIPO) had its price objective upped by JMP Securities from $25.00 to $35.00 in a research note published on Friday,Benzinga reports. They currently have a market outperform rating on the stock.

A number of other research analysts have also recently issued reports on HIPO. Keefe, Bruyette & Woods boosted their target price on Hippo from $20.00 to $21.00 and gave the stock a “market perform” rating in a report on Monday, August 19th. Jefferies Financial Group dropped their price target on shares of Hippo from $29.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th.

Hippo Stock Performance

Shares of NYSE HIPO opened at $34.01 on Friday. The company has a 50 day simple moving average of $20.98 and a two-hundred day simple moving average of $18.86. Hippo has a fifty-two week low of $7.75 and a fifty-two week high of $34.11. The company has a market capitalization of $828.48 million, a price-to-earnings ratio of -6.53 and a beta of 1.26.

Insiders Place Their Bets

In other Hippo news, CEO Richard Mccathron sold 10,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $25.55, for a total transaction of $255,500.00. Following the completion of the sale, the chief executive officer now directly owns 366,146 shares in the company, valued at approximately $9,355,030.30. The trade was a 2.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Anirudh Badia sold 2,552 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $24.49, for a total value of $62,498.48. Following the completion of the transaction, the chief accounting officer now owns 102,315 shares in the company, valued at approximately $2,505,694.35. This trade represents a 2.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,657 shares of company stock valued at $538,171. Corporate insiders own 11.37% of the company’s stock.

Institutional Investors Weigh In On Hippo

Institutional investors have recently added to or reduced their stakes in the stock. Hood River Capital Management LLC raised its stake in Hippo by 79.4% during the first quarter. Hood River Capital Management LLC now owns 326,343 shares of the company’s stock valued at $5,962,000 after purchasing an additional 144,459 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Hippo in the third quarter valued at about $864,000. Vanguard Group Inc. raised its stake in Hippo by 6.3% in the first quarter. Vanguard Group Inc. now owns 759,254 shares of the company’s stock worth $13,872,000 after buying an additional 45,058 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in shares of Hippo in the 2nd quarter worth $629,000. Finally, State Street Corp lifted 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 purchasing an additional 35,743 shares during the last quarter. 43.01% of the stock is 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.