Hippo Holdings Inc. (NYSE:HIPO) CEO Sells $120,318.29 in Stock

Hippo Holdings Inc. (NYSE:HIPO) CEO Torben Ostergaard sold 4,889 shares of Hippo stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $24.61, for a total value of $120,318.29. Following the transaction, the chief executive officer now directly owns 66,793 shares in the company, valued at approximately $1,643,775.73. The trade was a 6.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Hippo Stock Up 10.4%

Shares of NYSE HIPO opened at $27.73 on Friday. The stock’s fifty day simple moving average is $23.45 and its 200 day simple moving average is $26.54. The stock has a market capitalization of $697.63 million, a price-to-earnings ratio of -5.32 and a beta of 1.48. Hippo Holdings Inc. has a 52-week low of $14.58 and a 52-week high of $35.44.

Hippo (NYSE:HIPO) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($1.91) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.50). The company had revenue of $110.30 million during the quarter, compared to analyst estimates of $106.70 million. Hippo had a negative net margin of 37.94% and a negative return on equity of 36.38%. As a group, analysts anticipate that Hippo Holdings Inc. will post -3.63 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on HIPO shares. Jefferies Financial Group reduced their price objective on shares of Hippo from $43.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Keefe, Bruyette & Woods increased their target price on shares of Hippo from $24.00 to $26.00 and gave the company a “market perform” rating in a research note on Tuesday, April 22nd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Invesco Ltd. raised its holdings in shares of Hippo by 1.5% during the fourth quarter. Invesco Ltd. now owns 35,866 shares of the company’s stock valued at $960,000 after acquiring an additional 539 shares during the period. AQR Capital Management LLC grew its position in Hippo by 8.3% during the 1st quarter. AQR Capital Management LLC now owns 16,193 shares of the company’s stock worth $414,000 after purchasing an additional 1,236 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in Hippo by 13.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 11,736 shares of the company’s stock valued at $314,000 after purchasing an additional 1,400 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Hippo by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 152,664 shares of the company’s stock valued at $4,087,000 after purchasing an additional 1,424 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Hippo by 5.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,768 shares of the company’s stock valued at $717,000 after purchasing an additional 1,434 shares in the last quarter. 43.01% of the stock is currently owned by institutional investors and hedge funds.

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.