Hippo (NYSE:HIPO) Stock Price Expected to Rise, JMP Securities Analyst Says

Hippo (NYSE:HIPO - Get Free Report) had its price objective upped by research analysts at JMP Securities from $25.00 to $35.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a "market outperform" rating on the stock. JMP Securities' target price points to a potential upside of 2.91% from the company's current price.

A number of other equities research analysts have also weighed in on the stock. Jefferies Financial Group lowered their target price on shares of 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 increased their price objective on Hippo from $20.00 to $21.00 and gave the stock a "market perform" rating in a research note on Monday, August 19th.

Hippo Stock Performance

Hippo stock traded up $1.95 during mid-day trading on Friday, reaching $34.01. The stock had a trading volume of 286,195 shares, compared to its average volume of 160,302. Hippo has a fifty-two week low of $7.75 and a fifty-two week high of $34.11. The stock's 50-day simple moving average is $20.69 and its 200-day simple moving average is $18.75. The firm has a market capitalization of $828.48 million, a PE ratio of -6.15 and a beta of 1.26.

Insider Buying and Selling

In other news, CEO Richard Mccathron sold 10,000 shares of the firm's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $25.55, for a total transaction of $255,500.00. Following the completion of the sale, the chief executive officer now directly owns 366,146 shares of the company's stock, valued at $9,355,030.30. This trade represents a 2.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Anirudh Badia sold 2,552 shares of the business's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $24.49, for a total transaction of $62,498.48. Following the completion of the transaction, the chief accounting officer now directly owns 102,315 shares in the company, valued at $2,505,694.35. This trade represents a 2.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,657 shares of company stock worth $538,171. 11.37% of the stock is owned by insiders.

Hedge Funds Weigh In On Hippo

Several large investors have recently modified their holdings of HIPO. Caz Investments LP grew its stake in Hippo by 100.0% in the 3rd quarter. Caz Investments LP now owns 5,600 shares of the company's stock valued at $95,000 after buying an additional 2,800 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Hippo in the 3rd quarter worth approximately $174,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Hippo in the third quarter worth $174,000. AQR Capital Management LLC bought a new stake in shares of Hippo during the 2nd quarter valued at about $194,000. Finally, PEAK6 Investments LLC purchased a new position in shares of Hippo during the first quarter worth about $277,000. Hedge funds and other institutional investors own 43.01% of the company's stock.

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.