Insider Selling: Hippo (NYSE:HIPO) CEO Sells 5,000 Shares of Stock

Hippo Holdings Inc. (NYSE:HIPO) CEO Richard Mccathron sold 5,000 shares of the business’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 transaction, the chief executive officer owned 580,433 shares in the company, valued at approximately $18,573,856. The trade was a 0.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

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

Hippo Stock Performance

Shares of HIPO traded down $0.46 during midday trading on Wednesday, reaching $32.93. The stock had a trading volume of 138,947 shares, compared to its average volume of 139,060. The firm has a 50 day simple moving average of $28.25 and a 200-day simple moving average of $27.70. Hippo Holdings Inc. has a one year low of $24.08 and a one year high of $38.98. The firm has a market cap of $868.99 million, a PE ratio of 7.08 and a beta of 1.47. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.10.

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 analysts’ consensus estimates of ($0.17) by $0.96. The company had revenue of $144.70 million for 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%. As a group, sell-side analysts anticipate that Hippo Holdings Inc. will post 1.5 EPS for the current year.

Analyst Ratings Changes

Several analysts have issued reports on HIPO shares. Keefe, Bruyette & Woods upped their price objective on Hippo from $33.00 to $35.00 and gave the company a “market perform” rating in a research note on Thursday, August 6th. B. Riley Financial reiterated a “buy” rating and set a $41.50 target price (up from $38.00) on shares of Hippo in a research note on Monday, August 3rd. Zacks Research raised Hippo from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. Texas Capital upgraded Hippo to a “strong-buy” rating in a research note on Tuesday, June 9th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hippo in a report on Friday, July 31st. Two investment 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. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $40.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC raised its holdings in Hippo by 8.3% in the 1st quarter. AQR Capital Management LLC now owns 16,193 shares of the company’s stock valued at $414,000 after acquiring an additional 1,236 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Hippo by 30.5% during the second quarter. JPMorgan Chase & Co. now owns 208,472 shares of the company’s stock worth $5,823,000 after acquiring an additional 48,677 shares during the period. American Century Companies Inc. boosted its holdings in shares of Hippo by 6.3% during the second quarter. American Century Companies Inc. now owns 43,417 shares of the company’s stock worth $1,213,000 after acquiring an additional 2,588 shares during the period. Quantbot Technologies LP acquired a new position in shares of Hippo in the second quarter valued at approximately $33,000. Finally, Walleye Capital LLC acquired a new position in shares of Hippo in the second quarter valued at approximately $358,000. Institutional investors and hedge funds own 43.01% of the company’s stock.

Hippo Company Profile

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.