Hippo (NYSE:HIPO) Price Target Cut to $30.00 by Analysts at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods cut Hippo's price target from $33 to $30 while maintaining a "market perform" rating, which the firm says implies roughly an 18% upside from the prior close.
• Analyst consensus is more bullish overall — four Buy and three Hold ratings yield a "Moderate Buy" average and an average price target of $36.50, above KBW's target.
• Insiders have been net sellers recently (including two CEO sales), with 21,705 shares sold worth about $625,284 in the last 90 days; insiders now own 10.8% of the company.

Hippo (NYSE:HIPO - Get Free Report) had its price target reduced by Keefe, Bruyette & Woods from $33.00 to $30.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' target price would indicate a potential upside of 18.02% from the company's previous close.

A number of other equities research analysts also recently issued reports on HIPO. Weiss Ratings raised shares of Hippo from a "sell (d-)" rating to a "hold (c-)" rating in a research note on Thursday, March 5th. Zacks Research raised shares of Hippo to a "hold" rating in a research report on Tuesday, March 3rd. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $36.50.

Hippo Trading Down 1.5%

Shares of NYSE HIPO traded down $0.38 during mid-day trading on Tuesday, reaching $25.42. 22,622 shares of the company's stock were exchanged, compared to its average volume of 130,977. The company's 50-day moving average is $27.50 and its 200-day moving average is $31.10. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market capitalization of $660.16 million, a price-to-earnings ratio of 11.88 and a beta of 1.61. Hippo has a 52-week low of $19.92 and a 52-week high of $38.98.

Insider Transactions at Hippo

In other Hippo news, CEO Torben Ostergaard sold 6,105 shares of Hippo stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $28.57, for a total value of $174,419.85. Following the completion of the transaction, the chief executive officer directly owned 46,694 shares of the company's stock, valued at $1,334,047.58. The trade was a 11.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Richard Mccathron sold 5,000 shares of the business's stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $25.86, for a total transaction of $129,300.00. Following the sale, the chief executive officer owned 615,650 shares in the company, valued at $15,920,709. This trade represents a 0.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 21,705 shares of company stock valued at $625,284 over the last 90 days. 10.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Hippo

Large investors have recently added to or reduced their stakes in the business. Hsbc Holdings PLC purchased a new position in Hippo in the 4th quarter valued at approximately $620,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Hippo in the fourth quarter valued at $26,000. XTX Topco Ltd acquired a new stake in shares of Hippo in the fourth quarter valued at $391,000. Stoic Point Capital Management LLC purchased a new position in Hippo in the fourth quarter valued at $7,490,000. Finally, Tudor Investment Corp ET AL boosted its holdings in Hippo by 30.0% in the fourth quarter. Tudor Investment Corp ET AL now owns 34,616 shares of the company's stock valued at $1,041,000 after purchasing an additional 7,982 shares during the period. 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.

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