Hippo (NYSE:HIPO) Given New $33.00 Price Target at Keefe, Bruyette & Woods

Hippo (NYSE:HIPO) had its price target trimmed by Keefe, Bruyette & Woods from $34.00 to $33.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has a market perform rating on the stock.

HIPO has been the topic of a number of other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Hippo in a research note on Thursday, January 22nd. Zacks Research raised shares of Hippo to a “hold” rating in a report on Tuesday. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.25.

Hippo Stock Down 3.0%

Shares of NYSE:HIPO traded down $0.82 during mid-day trading on Friday, hitting $26.34. 136,115 shares of the company traded hands, compared to its average volume of 155,960. The firm’s 50 day simple moving average is $29.57 and its 200 day simple moving average is $32.43. The firm has a market cap of $667.19 million, a P/E ratio of 12.31 and a beta of 1.57. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.94 and a current ratio of 0.94. Hippo has a 52-week low of $19.92 and a 52-week high of $38.98.

Insider Activity

In related news, insider Michael Stienstra sold 3,900 shares of the stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $31.12, for a total value of $121,368.00. Following the completion of the transaction, the insider directly owned 71,281 shares of the company’s stock, valued at $2,218,264.72. This represents a 5.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Richard Mccathron sold 5,000 shares of the firm’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $29.14, for a total transaction of $145,700.00. Following the transaction, the chief executive officer directly owned 442,704 shares in the company, valued at approximately $12,900,394.56. The trade was a 1.12% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 25,605 shares of company stock valued at $766,452. Insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Hippo

Several hedge funds have recently modified their holdings of the stock. Hood River Capital Management LLC acquired a new position in Hippo during the second quarter valued at $13,665,000. Stoic Point Capital Management LLC acquired a new stake in Hippo during the 4th quarter worth about $7,490,000. Jacobs Levy Equity Management Inc. acquired a new stake in Hippo during the 3rd quarter worth about $5,842,000. Geode Capital Management LLC grew its stake in Hippo by 24.1% during the 4th quarter. Geode Capital Management LLC now owns 557,066 shares of the company’s stock valued at $16,760,000 after acquiring an additional 108,359 shares in the last quarter. Finally, Sei Investments Co. acquired a new position in shares of Hippo in the 2nd quarter valued at about $2,810,000. 43.01% of the stock is owned by hedge funds and other institutional investors.

About Hippo

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.