Hippo (NYSE:HIPO) CEO Sells $170,900.00 in Stock

Hippo Holdings Inc. (NYSE:HIPO) CEO Richard McCathron sold 5,000 shares of the company’s stock in a transaction on Friday, October 9th. The shares were sold at an average price of $34.18, for a total value of $170,900.00. Following the sale, the chief executive officer owned 562,132 shares of the company’s stock, valued at approximately $19,213,671.76. The trade was a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Wednesday, September 9th, Richard McCathron sold 5,000 shares of Hippo stock. The stock was sold at an average price of $32.23, for a total value of $161,150.00.
• On Monday, August 10th, Richard McCathron sold 5,000 shares of Hippo stock. The stock was sold at an average price of $32.00, for a total value of $160,000.00.

Hippo Stock Up 2.6%

HIPO stock opened at $35.28 on Friday. The company has a market cap of $931.17 million, a PE ratio of 7.59 and a beta of 1.55. The business has a 50-day simple moving average of $32.60 and a 200 day simple moving average of $29.24. Hippo Holdings Inc. has a 52 week low of $24.08 and a 52 week high of $38.72. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.10.

Hippo (NYSE:HIPO) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.96. The business had revenue of $144.70 million during the quarter, compared to analysts’ expectations of $137.44 million. Hippo had a net margin of 23.92% and a return on equity of 10.68%. Sell-side analysts anticipate that Hippo Holdings Inc. will post 1.50 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on HIPO. B. Riley Financial restated a “buy” rating and issued a $41.50 target price (up from $38.00) on shares of Hippo in a research report on Monday, August 3rd. Keefe, Bruyette & Woods increased their price target on shares of Hippo from $33.00 to $35.00 and gave the stock a “market perform” rating in a research report on Thursday, August 6th. Zacks Research lowered shares of Hippo from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 2nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Hippo in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Hippo currently has a consensus rating of “Moderate Buy” and an average price target of $38.25.

Institutional Trading of Hippo

Several institutional investors and hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue acquired a new stake in Hippo in the third quarter valued at about $31,000. State Street Corp grew its position in Hippo by 9.1% in the second quarter. State Street Corp now owns 443,716 shares of the company’s stock valued at $12,539,000 after acquiring an additional 37,097 shares during the last quarter. Citadel Advisors LLC lifted its holdings in shares of Hippo by 90.5% in the second quarter. Citadel Advisors LLC now owns 140,734 shares of the company’s stock worth $3,977,000 after acquiring an additional 66,863 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Hippo in the second quarter worth about $178,000. Finally, AWM Investment Company Inc. bought a new position in shares of Hippo in the second quarter worth about $2,826,000. 43.01% of the stock is currently owned by institutional investors.

Hippo Company Profile

Hippo Holdings Inc is a technology-focused property and casualty insurance company that provides homeowners insurance and related services in the United States. The company combines digital insurance tools, data analytics and home-monitoring technology to simplify the process of obtaining coverage and managing a policy.

Hippo’s offerings are centered on homeowners insurance, including coverage for residential property, personal belongings, liability and additional living expenses. Through its home protection platform, the company also provides resources and services intended to help customers identify and address potential risks before they lead to costly losses, such as water leaks, fire hazards and other property-related issues.

Founded in 2015 by Assaf Wand and Eyal Navon, Hippo became a publicly traded company in 2021 through a business combination with Reinvent Technology Partners Z.