JMP Securities Reaffirms “Market Outperform” Rating for Hippo (NYSE:HIPO)

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

Hippo Price Performance

NYSE:HIPO opened at $20.30 on Monday. The stock has a market cap of $493.51 million, a P/E ratio of -1.75 and a beta of 1.57. Hippo has a one year low of $6.64 and a one year high of $25.49. The company has a fifty day moving average price of $16.73 and a 200 day moving average price of $11.36.

Hippo (NYSE:HIPO) last released its earnings results on Wednesday, March 6th. The company reported ($1.76) EPS for the quarter, beating the consensus estimate of ($2.04) by $0.28. The firm had revenue of $64.50 million during the quarter, compared to analysts’ expectations 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 research analysts anticipate that Hippo will post -4.09 EPS for the current year.

Insider Buying and Selling at Hippo

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

Institutional Investors Weigh In On Hippo

Several large investors have recently made changes to their positions in HIPO. Vanguard Group Inc. grew its holdings in shares of Hippo by 135.5% in the 1st quarter. Vanguard Group Inc. now owns 15,042,378 shares of the company’s stock worth $29,934,000 after purchasing an additional 8,655,415 shares during the last quarter. State Street Corp grew its holdings in Hippo by 157.7% during the 2nd quarter. State Street Corp now owns 4,045,702 shares of the company’s stock worth $3,555,000 after acquiring an additional 2,475,532 shares during the last quarter. Northern Trust Corp grew its holdings in Hippo by 237.3% during the 2nd quarter. Northern Trust Corp now owns 2,473,055 shares of the company’s stock worth $2,174,000 after acquiring an additional 1,739,907 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Hippo by 265.8% during the 1st quarter. Renaissance Technologies LLC now owns 2,084,106 shares of the company’s stock worth $4,147,000 after acquiring an additional 1,514,406 shares during the last quarter. Finally, ExodusPoint Capital Management LP grew its holdings in Hippo by 141.0% during the 2nd quarter. ExodusPoint Capital Management LP now owns 967,578 shares of the company’s stock worth $850,000 after acquiring an additional 566,158 shares during the last quarter. Institutional investors own 43.01% of the company’s stock.

About Hippo

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.