Key Points
- Hippo CEO Richard Mccathron sold 5,000 shares at an average price of $32, generating $160,000. After the transaction, he retained 580,433 shares, a 0.85% reduction in his holdings.
- Hippo reported quarterly earnings of $0.79 per share, beating the $0.17 loss analysts expected, while revenue of $144.7 million exceeded the $137.4 million consensus estimate.
- Analyst sentiment is generally positive, with Hippo holding an average “Buy” rating and a $40.50 price target; institutional investors own approximately 43.01% of the stock.
Hippo Holdings Inc. (NYSE:HIPO - Get Free Report) CEO Richard Mccathron sold 5,000 shares of the business's stock in a transaction dated 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 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 through this hyperlink.
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 shares were sold at an average price of $25.00, for a total transaction of $125,000.00.
Hippo Price Performance
Shares of NYSE:HIPO opened at $32.93 on Thursday. Hippo Holdings Inc. has a 12 month low of $24.08 and a 12 month high of $38.98. The stock has a market cap of $869.02 million, a price-to-earnings ratio of 7.08 and a beta of 1.47. The stock's 50 day moving average price is $28.43 and its 200 day moving average price is $27.71. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.95 and a quick ratio of 0.95.
Hippo (NYSE:HIPO - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $0.79 earnings per share for the quarter, topping analysts' consensus estimates of ($0.17) by $0.96. The firm had revenue of $144.70 million during the quarter, compared to the consensus estimate of $137.44 million. Hippo had a return on equity of 10.68% and a net margin of 23.92%. Equities research analysts anticipate that Hippo Holdings Inc. will post 1.5 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Hippo
Several institutional investors and hedge funds have recently added to or reduced their stakes in HIPO. BlackRock Inc. grew its position in Hippo by 17.8% during the 2nd 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 in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Hippo by 36.4% in the second 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 in the last quarter. State of Wyoming lifted its holdings in shares of Hippo by 22.9% in the second quarter. State of Wyoming now owns 8,666 shares of the company's stock valued at $245,000 after purchasing an additional 1,612 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Hippo by 151.8% in the second quarter. Russell Investments Group Ltd. now owns 38,830 shares of the company's stock worth $1,097,000 after buying an additional 23,408 shares during the period. Finally, Stoic Point Capital Management LLC boosted its position in shares of Hippo by 0.8% in the first 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. 43.01% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
HIPO has been the subject of several research analyst reports. Weiss Ratings restated a "hold (c)" rating on shares of Hippo in a report on Friday, July 31st. Zacks Research upgraded shares of Hippo from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 7th. B. Riley Financial reissued a "buy" rating and issued a $41.50 price target (up from $38.00) on shares of Hippo in a report on Monday, August 3rd. Texas Capital raised shares of Hippo to a "strong-buy" rating in a report on Tuesday, June 9th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Hippo from $33.00 to $35.00 and gave the company a "market perform" rating in a research report on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Hippo currently has an average rating of "Buy" and an average price target of $40.50.
Check Out Our Latest Research Report on Hippo
About Hippo
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
