Hippo (NYSE:HIPO) Receives Market Outperform Rating from JMP Securities

JMP Securities reissued their market outperform rating on shares of Hippo (NYSE:HIPO) in a report issued on Monday, Benzinga reports. The firm currently has a $25.00 price objective on the stock.

Hippo Stock Performance

Shares of HIPO opened at $21.02 on Monday. Hippo has a 52 week low of $6.64 and a 52 week high of $25.49. The firm has a market cap of $511.00 million, a P/E ratio of -1.81 and a beta of 1.57. The firm’s 50-day simple moving average is $16.27 and its 200 day simple moving average is $11.20.

Hippo (NYSE:HIPO) last posted its quarterly earnings data on Wednesday, March 6th. The company reported ($1.76) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.04) by $0.28. The firm had revenue of $64.50 million during the quarter, compared to the consensus estimate of $57.00 million. Hippo had a negative net margin of 130.19% and a negative return on equity of 61.14%. As a group, equities analysts forecast that Hippo will post -4.09 earnings per share for the current year.

Insiders Place Their Bets

In other Hippo news, CRO Yuval Harry sold 14,938 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $17.20, for a total transaction of $256,933.60. Following the completion of the sale, the executive now directly owns 145,162 shares in the company, valued at $2,496,786.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Anirudh Badia sold 1,735 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $18.39, for a total value of $31,906.65. Following the completion of the transaction, the chief accounting officer now directly owns 122,454 shares in the company, valued at approximately $2,251,929.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Yuval Harry sold 14,938 shares of the stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $17.20, for a total value of $256,933.60. Following the completion of the transaction, the executive now owns 145,162 shares of the company’s stock, valued at $2,496,786.40. The disclosure for this sale can be found here. Corporate insiders own 11.28% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC increased its holdings in Hippo by 60.0% in the third quarter. Cubist Systematic Strategies LLC now owns 2,080 shares of the company’s stock valued at $39,000 after purchasing an additional 780 shares during the period. Legal & General Group Plc increased its holdings in Hippo by 18.7% in the fourth quarter. Legal & General Group Plc now owns 5,203 shares of the company’s stock valued at $71,000 after purchasing an additional 820 shares during the period. Royal Bank of Canada increased its holdings in Hippo by 8.3% in the second quarter. Royal Bank of Canada now owns 16,099 shares of the company’s stock valued at $266,000 after purchasing an additional 1,231 shares during the period. Barclays PLC increased its holdings in Hippo by 13.5% in the second quarter. Barclays PLC now owns 10,622 shares of the company’s stock valued at $176,000 after purchasing an additional 1,263 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Hippo by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 110,505 shares of the company’s stock valued at $1,008,000 after purchasing an additional 1,400 shares during the period. 43.01% of the stock is currently owned by institutional investors.

Hippo Company Profile

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.