Bond Capital Management LP Trims Stock Holdings in Hippo Holdings Inc. $HIPO

Key Points

• Bond Capital Management reduced its Hippo holdings by 12.2% in the second quarter, selling 146,093 shares. The firm still owns 1.05 million shares, representing 3.99% of Hippo and about 9.8% of its portfolio.
• Analyst sentiment remains positive, with Hippo carrying a consensus “Buy” rating and an average price target of $40.50. Recent upgrades included strong-buy ratings from Texas Capital and Zacks Research.
• Hippo reported quarterly revenue of $144.7 million and EPS of $0.79, exceeding estimates for $137.44 million in revenue and a $0.17 per-share loss. The stock opened at $33.79, below its 12-month high of $38.98, while company insiders sold $517,933 worth of shares during the quarter.

Bond Capital Management LP cut its holdings in Hippo Holdings Inc. (NYSE:HIPO - Free Report) by 12.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,054,035 shares of the company's stock after selling 146,093 shares during the period. Hippo comprises approximately 9.8% of Bond Capital Management LP's holdings, making the stock its 3rd biggest position. Bond Capital Management LP owned 3.99% of Hippo worth $29,787,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new position in Hippo in the fourth quarter worth about $26,000. Altshuler Shaham Ltd grew its holdings in shares of Hippo by 270.4% during the fourth quarter. Altshuler Shaham Ltd now owns 1,000 shares of the company's stock valued at $30,000 after purchasing an additional 730 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Hippo during the second quarter valued at approximately $33,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Hippo during the 4th quarter worth approximately $56,000. Finally, Royal Bank of Canada raised its position in shares of Hippo by 109.4% during the 4th quarter. Royal Bank of Canada now owns 3,174 shares of the company's stock worth $95,000 after purchasing an additional 1,658 shares during the period. Institutional investors own 43.01% of the company's stock.

Analyst Ratings Changes

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

Hippo Stock Performance

HIPO opened at $33.79 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.10. The business's 50 day moving average is $31.00 and its 200-day moving average is $28.15. The stock has a market cap of $891.72 million, a PE ratio of 7.27 and a beta of 1.55. Hippo Holdings Inc. has a twelve month low of $24.08 and a twelve month high of $38.98.

Hippo (NYSE:HIPO - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.17) by $0.96. Hippo had a return on equity of 10.68% and a net margin of 23.92%.The business had revenue of $144.70 million during the quarter, compared to analyst estimates of $137.44 million. On average, analysts predict that Hippo Holdings Inc. will post 1.5 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Richard McCathron sold 5,000 shares of Hippo stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $28.53, for a total transaction of $142,650.00. Following the sale, the chief executive officer directly owned 585,433 shares in the company, valued at $16,702,403.49. The trade was a 0.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Guy Zeltser sold 1,669 shares of Hippo stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $30.98, for a total transaction of $51,705.62. Following the sale, the chief financial officer owned 120,563 shares in the company, valued at approximately $3,735,041.74. This represents a 1.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 17,838 shares of company stock worth $517,933. 4.48% of the stock is owned by company insiders.

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.

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