Keefe, Bruyette & Woods Downgrades Hippo (NYSE:HIPO) to Market Perform

Keefe, Bruyette & Woods lowered shares of Hippo (NYSE:HIPO) from an outperform rating to a market perform rating in a report published on Monday, Marketbeat reports. They currently have $20.00 price target on the stock, down from their prior price target of $22.00.

Separately, JMP Securities reiterated a market outperform rating and issued a $25.00 price target on shares of Hippo in a research report on Monday, April 15th.

Hippo Stock Down 4.3 %

HIPO opened at $18.34 on Monday. Hippo has a 52 week low of $6.64 and a 52 week high of $25.49. The firm has a 50-day simple moving average of $17.12 and a two-hundred day simple moving average of $16.01. The company has a market capitalization of $448.05 million, a PE ratio of -1.82 and a beta of 1.33.

Hippo (NYSE:HIPO) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($1.47) earnings per share for the quarter, missing the consensus estimate of ($1.41) by ($0.06). Hippo had a negative net margin of 93.69% and a negative return on equity of 59.81%. The firm had revenue of $85.10 million for the quarter, compared to analysts’ expectations of $67.90 million. As a group, sell-side analysts expect that Hippo will post -4.98 earnings per share for the current year.

Insider Activity at Hippo

In other Hippo news, CRO Yuval Harry sold 14,995 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $18.16, for a total value of $272,309.20. Following the sale, the executive now owns 123,993 shares in the company, valued at $2,251,712.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 11.37% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HIPO. Hood River Capital Management LLC boosted its position in Hippo by 79.4% in the 1st quarter. Hood River Capital Management LLC now owns 326,343 shares of the company’s stock valued at $5,962,000 after buying an additional 144,459 shares during the period. Ieq Capital LLC purchased a new position in Hippo during the fourth quarter valued at approximately $460,000. Vanguard Group Inc. increased its holdings in shares of Hippo by 6.3% in the 1st quarter. Vanguard Group Inc. now owns 759,254 shares of the company’s stock valued at $13,872,000 after acquiring an additional 45,058 shares during the period. Trexquant Investment LP bought a new stake in Hippo during the fourth quarter valued at about $327,000. Finally, PEAK6 Investments LLC purchased a new position in Hippo in the first quarter valued at about $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.