Keefe, Bruyette & Woods Cuts Hippo (NYSE:HIPO) Price Target to $30.00

Hippo (NYSE:HIPO) had its target price dropped by investment analysts at Keefe, Bruyette & Woods from $33.00 to $30.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 18.02% from the stock’s current price.

Several other research analysts have also recently commented on the stock. Zacks Research upgraded shares of Hippo to a “hold” rating in a report on Tuesday, March 3rd. Weiss Ratings upgraded shares of Hippo from a “sell (d-)” rating to a “hold (c-)” rating in a report on Thursday, March 5th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $36.50.

Hippo Stock Down 1.5%

Shares of HIPO stock traded down $0.38 during trading hours on Tuesday, reaching $25.42. 22,622 shares of the stock were exchanged, compared to its average volume of 130,977. The business’s fifty day moving average is $27.50 and its two-hundred day moving average is $31.10. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.94 and a quick ratio of 0.94. Hippo has a 12-month low of $19.92 and a 12-month high of $38.98. The firm has a market capitalization of $660.16 million, a P/E ratio of 11.88 and a beta of 1.61.

Insider Activity

In related news, CEO Torben Ostergaard sold 6,105 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was 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 owned 46,694 shares in the company, valued at $1,334,047.58. The trade was a 11.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard Mccathron sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $25.86, for a total value of $129,300.00. Following the completion of the transaction, the chief executive officer directly owned 615,650 shares of the company’s stock, valued at $15,920,709. This trade represents a 0.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 21,705 shares of company stock worth $625,284 in the last three months. Corporate insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of HIPO. Caitong International Asset Management Co. Ltd acquired a new stake in Hippo during the 4th quarter worth $26,000. Altshuler Shaham Ltd boosted its stake in Hippo by 270.4% in the fourth quarter. Altshuler Shaham Ltd now owns 1,000 shares of the company’s stock valued at $30,000 after acquiring an additional 730 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Hippo during the second quarter worth about $33,000. AlphaQuest LLC grew its holdings in shares of Hippo by 109.5% during the third quarter. AlphaQuest LLC now owns 1,251 shares of the company’s stock worth $45,000 after purchasing an additional 654 shares during the last quarter. Finally, Torren Management LLC acquired a new stake in shares of Hippo during the fourth quarter worth about $55,000. 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.