Jefferies Financial Group Cuts Hippo (NYSE:HIPO) Price Target to $30.00

Hippo (NYSE:HIPO) had its target price cut by Jefferies Financial Group from $43.00 to $30.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Hippo Stock Performance

Shares of HIPO opened at $22.33 on Friday. Hippo has a fifty-two week low of $14.58 and a fifty-two week high of $35.44. The business has a 50-day moving average of $27.25 and a 200 day moving average of $25.87. The firm has a market cap of $560.08 million, a P/E ratio of -4.29 and a beta of 1.49.

Hippo (NYSE:HIPO) last posted its earnings results on Wednesday, March 5th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.08. The firm had revenue of $102.00 million during the quarter, compared to the consensus estimate of $97.83 million. Hippo had a negative net margin of 37.94% and a negative return on equity of 36.38%. As a group, research analysts predict that Hippo will post -3.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Chairman Assaf Wand sold 12,250 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $28.90, for a total value of $354,025.00. Following the transaction, the chairman now owns 486,814 shares of the company’s stock, valued at approximately $14,068,924.60. This represents a 2.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael Stienstra sold 2,329 shares of Hippo stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $30.02, for a total value of $69,916.58. Following the sale, the insider now directly owns 59,648 shares of the company’s stock, valued at $1,790,632.96. This represents a 3.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,997 shares of company stock valued at $1,469,538. Corporate insiders own 11.37% of the company’s stock.

Institutional Trading of Hippo

Institutional investors and hedge funds have recently modified their holdings of the business. Invesco Ltd. increased its position in shares of Hippo by 1.5% in the fourth quarter. Invesco Ltd. now owns 35,866 shares of the company’s stock worth $960,000 after purchasing an additional 539 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Hippo by 13.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 11,736 shares of the company’s stock worth $314,000 after buying an additional 1,400 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Hippo by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 152,664 shares of the company’s stock valued at $4,087,000 after buying an additional 1,424 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Hippo by 5.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 26,768 shares of the company’s stock worth $717,000 after acquiring an additional 1,434 shares during the last quarter. Finally, MetLife Investment Management LLC grew its position in Hippo by 13.3% in the fourth quarter. MetLife Investment Management LLC now owns 13,394 shares of the company’s stock worth $359,000 after acquiring an additional 1,573 shares in the last quarter. Hedge funds and other institutional investors own 43.01% of the company’s stock.

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.