JMP Securities Forecasts Strong Price Appreciation for Hippo (NYSE:HIPO) Stock

Hippo (NYSE:HIPO) had its price objective raised by JMP Securities from $25.00 to $35.00 in a research report released on Friday,Benzinga reports. The brokerage currently has a market outperform rating on the stock.

HIPO has been the topic of several other research reports. Jefferies Financial Group lowered their price target on Hippo from $29.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Keefe, Bruyette & Woods raised their price objective on Hippo from $20.00 to $21.00 and gave the company a “market perform” rating in a report on Monday, August 19th.

Hippo Stock Performance

Shares of HIPO opened at $32.99 on Friday. The stock’s 50-day simple moving average is $21.25 and its 200 day simple moving average is $18.96. The stock has a market capitalization of $803.64 million, a price-to-earnings ratio of -6.33 and a beta of 1.26. Hippo has a 52-week low of $7.75 and a 52-week high of $34.24.

Insider Buying and Selling

In related news, Chairman Assaf Wand sold 12,250 shares of Hippo stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $16.19, for a total transaction of $198,327.50. Following the sale, the chairman now directly owns 548,064 shares in the company, valued at $8,873,156.16. The trade was a 2.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Richard Mccathron sold 15,000 shares of Hippo stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $30.16, for a total value of $452,400.00. Following the sale, the chief executive officer now owns 339,623 shares in the company, valued at $10,243,029.68. This represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 40,657 shares of company stock worth $990,571 in the last ninety days. 11.37% of the stock is owned by insiders.

Institutional Investors Weigh In On Hippo

Several hedge funds have recently made changes to their positions in HIPO. Caz Investments LP boosted its position in shares of Hippo by 100.0% during the third quarter. Caz Investments LP now owns 5,600 shares of the company’s stock valued at $95,000 after purchasing an additional 2,800 shares in the last quarter. SG Americas Securities LLC purchased a new position in Hippo during the third quarter valued at $174,000. Public Employees Retirement System of Ohio purchased a new position in Hippo during the third quarter valued at $174,000. AQR Capital Management LLC purchased a new position in Hippo during the second quarter valued at $194,000. Finally, PEAK6 Investments LLC purchased a new position in Hippo during the first quarter valued at $277,000. 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.