Hippo (NYSE:HIPO) Stock Gets Price Target Bump from Keefe, Bruyette & Woods

Hippo (NYSE:HIPO) had its price target upped by stock analysts at Keefe, Bruyette & Woods from $35.00 to $37.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods‘s target price would suggest a potential upside of 3.32% from the company’s current price.

Several other research firms have also recently weighed in on HIPO. Zacks Research cut Hippo from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 2nd. Wall Street Zen raised Hippo from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings reissued a “hold (c)” rating on shares of Hippo in a report on Thursday. Finally, B. Riley Financial reiterated a “buy” rating and issued a $50.00 target price (up from $41.50) on shares of Hippo in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $43.50.

Hippo Trading Down 2.2%

NYSE HIPO opened at $35.81 on Tuesday. The firm has a market cap of $944.99 million, a PE ratio of 29.60 and a beta of 1.55. Hippo has a 1-year low of $24.08 and a 1-year high of $39.39. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.10. The stock has a 50-day moving average of $33.64 and a 200-day moving average of $29.48.

Insiders Place Their Bets

In other news, CEO Torben Ostergaard sold 1,169 shares of the company’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $35.03, for a total value of $40,950.07. Following the transaction, the chief executive officer directly owned 60,655 shares in the company, valued at approximately $2,124,744.65. This represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Richard McCathron sold 5,000 shares of Hippo stock in a transaction that occurred on Friday, October 9th. The shares were sold at an average price of $34.18, for a total transaction of $170,900.00. Following the sale, the chief executive officer directly owned 562,132 shares of the company’s stock, valued at $19,213,671.76. This represents a 0.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 17,338 shares of company stock valued at $571,577 over the last three months. Insiders own 4.48% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in HIPO. BlackRock Inc. boosted its holdings in shares of Hippo by 17.8% in the 2nd quarter. BlackRock Inc. now owns 1,498,306 shares of the company’s stock valued at $42,342,000 after buying an additional 226,533 shares in the last quarter. State Street Corp lifted its position in Hippo by 9.1% during the second quarter. State Street Corp now owns 443,716 shares of the company’s stock valued at $12,539,000 after acquiring an additional 37,097 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Hippo by 8.2% in the first quarter. Dimensional Fund Advisors LP now owns 394,907 shares of the company’s stock valued at $10,291,000 after acquiring an additional 29,993 shares in the last quarter. Stoic Point Capital Management LLC grew its holdings in Hippo by 0.8% in the first quarter. Stoic Point Capital Management LLC now owns 251,116 shares of the company’s stock worth $6,544,000 after purchasing an additional 2,100 shares during the last quarter. Finally, Sei Investments Co. increased its position in shares of Hippo by 25.4% during the first quarter. Sei Investments Co. now owns 161,440 shares of the company’s stock worth $4,207,000 after purchasing an additional 32,728 shares in the last quarter. 43.01% of the stock is owned by institutional investors.

About Hippo

Hippo Holdings Inc is a technology-focused insurance company that provides home insurance and related services to homeowners in the United States. Operating under the Hippo brand, the company uses digital tools, data analytics and a streamlined online experience to help customers obtain coverage, manage policies and receive support.

Hippo’s offerings are designed to protect residential properties and personal belongings against covered risks, while also emphasizing proactive home protection.