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

Hippo Holdings Inc. (NYSE:HIPO) CEO Richard McCathron sold 5,000 shares of Hippo stock in a transaction that occurred on Friday, October 9th. The shares were sold at an average price of $34.18, for a total transaction of $170,900.00. Following the completion of the transaction, the chief executive officer owned 562,132 shares of the company’s stock, valued at $19,213,671.76. This trade represents a 0.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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 Trading Down 0.1%

HIPO stock opened at $34.30 on Thursday. The business has a fifty day moving average price of $32.56 and a 200 day moving average price of $29.17. Hippo Holdings Inc. has a fifty-two week low of $24.08 and a fifty-two week high of $38.72. The stock has a market capitalization of $905.15 million, a price-to-earnings ratio of 7.38 and a beta of 1.55. 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) last issued its quarterly earnings data 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 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%. Analysts expect that Hippo Holdings Inc. will post 1.50 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted 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 valued at $42,342,000 after acquiring an additional 226,533 shares during the period. State Street Corp increased its position in Hippo by 9.1% in the second quarter. State Street Corp now owns 443,716 shares of the company’s stock worth $12,539,000 after purchasing an additional 37,097 shares during the period. Dimensional Fund Advisors LP raised its holdings in Hippo by 8.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 394,907 shares of the company’s stock worth $10,291,000 after purchasing an additional 29,993 shares during the last quarter. Stoic Point Capital Management LLC raised its holdings 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 purchasing an additional 2,100 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in Hippo by 25.4% during the 1st quarter. Sei Investments Co. now owns 161,440 shares of the company’s stock worth $4,207,000 after purchasing an additional 32,728 shares during the last quarter. 43.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on HIPO. Zacks Research downgraded shares of Hippo from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 2nd. B. Riley Financial reissued a “buy” rating and set a $41.50 price objective (up from $38.00) on shares of Hippo in a report on Monday, August 3rd. 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. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hippo in a research note on Friday, July 31st. One equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $38.25.

About Hippo

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.