Richard Mccathron Sells 5,000 Shares of Hippo (NYSE:HIPO) Stock

Hippo Holdings Inc. (NYSE:HIPO) CEO Richard Mccathron sold 5,000 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $32.00, for a total transaction of $160,000.00. Following the sale, the chief executive officer directly owned 580,433 shares in the company, valued at $18,573,856. This trade represents a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Richard Mccathron also recently made the following trade(s):

• On Thursday, July 9th, Richard Mccathron sold 5,000 shares of Hippo stock. The shares were sold at an average price of $28.53, for a total transaction of $142,650.00.
• On Tuesday, June 9th, Richard Mccathron sold 5,000 shares of Hippo stock. The stock was sold at an average price of $25.00, for a total transaction of $125,000.00.

Hippo Stock Up 0.2%

Shares of HIPO stock opened at $32.98 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.95 and a current ratio of 0.95. The firm’s 50-day moving average is $28.61 and its 200-day moving average is $27.73. The stock has a market cap of $870.42 million, a price-to-earnings ratio of 7.09 and a beta of 1.47. Hippo Holdings Inc. has a 52-week low of $24.08 and a 52-week high of $38.98.

Hippo (NYSE:HIPO) last issued its earnings results on Thursday, July 30th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.96. The business had revenue of $144.70 million during the quarter, compared to the consensus estimate of $137.44 million. Hippo had a net margin of 23.92% and a return on equity of 10.68%. Sell-side analysts predict that Hippo Holdings Inc. will post 1.5 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on HIPO shares. Keefe, Bruyette & Woods lifted their target price on Hippo from $33.00 to $35.00 and gave the stock a “market perform” rating in a research note on Thursday, August 6th. B. Riley Financial reaffirmed a “buy” rating and set a $41.50 price target (up from $38.00) on shares of Hippo in a report on Monday, August 3rd. Zacks Research raised shares of Hippo from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Texas Capital upgraded shares of Hippo to a “strong-buy” rating in a report on Tuesday, June 9th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Hippo in a research report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Hippo currently has a consensus rating of “Buy” and an average target price of $40.50.

Hedge Funds Weigh In On Hippo

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Hippo by 17.8% during the second quarter. BlackRock Inc. now owns 1,498,306 shares of the company’s stock worth $42,342,000 after purchasing an additional 226,533 shares during the period. Bank of New York Mellon Corp boosted its stake in Hippo by 36.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 80,747 shares of the company’s stock valued at $2,282,000 after purchasing an additional 21,556 shares during the period. State of Wyoming grew its holdings in Hippo by 22.9% in the 2nd quarter. State of Wyoming now owns 8,666 shares of the company’s stock valued at $245,000 after buying an additional 1,612 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Hippo by 151.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 38,830 shares of the company’s stock valued at $1,097,000 after buying an additional 23,408 shares in the last quarter. Finally, Stoic Point Capital Management LLC increased its position in Hippo by 0.8% during the 1st quarter. Stoic Point Capital Management LLC now owns 251,116 shares of the company’s stock worth $6,544,000 after buying an additional 2,100 shares during the period. Institutional investors and hedge funds own 43.01% of the company’s stock.

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.