Deutsche Bank AG Buys 43,112 Shares of Hippo Holdings Inc. $HIPO

Key Points

• Deutsche Bank AG increased its stake in Hippo Holdings Inc. by 251.7% during the first quarter, owning 60,242 shares valued at $1.54 million.
• CEO Torben Ostergaard sold 2,444 shares of Hippo stock for $73,197, reducing his ownership by 3.66%.
• Hippo's stock has seen analyst upgrades, with price targets increasing from $35.00 to $41.00 and a consensus rating of "Moderate Buy."

Deutsche Bank AG grew its stake in Hippo Holdings Inc. (NYSE:HIPO - Free Report) by 251.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,242 shares of the company's stock after acquiring an additional 43,112 shares during the quarter. Deutsche Bank AG owned 0.24% of Hippo worth $1,540,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Ameriprise Financial Inc. raised its stake in shares of Hippo by 72.0% in the fourth quarter. Ameriprise Financial Inc. now owns 38,977 shares of the company's stock worth $1,043,000 after purchasing an additional 16,313 shares during the last quarter. Two Sigma Investments LP purchased a new position in shares of Hippo in the fourth quarter worth $259,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Hippo in the first quarter worth $1,427,000. Jump Financial LLC purchased a new position in shares of Hippo in the fourth quarter worth $311,000. Finally, Fluent Financial LLC purchased a new position in shares of Hippo in the first quarter worth $469,000. Hedge funds and other institutional investors own 43.01% of the company's stock.

Insider Buying and Selling at Hippo

In other Hippo news, CEO Richard Mccathron sold 2,275 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $34.00, for a total transaction of $77,350.00. Following the completion of the sale, the chief executive officer owned 473,113 shares of the company's stock, valued at approximately $16,085,842. The trade was a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Torben Ostergaard sold 2,444 shares of the business's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $29.95, for a total value of $73,197.80. Following the sale, the chief executive officer directly owned 64,349 shares of the company's stock, valued at $1,927,252.55. This represents a 3.66% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 523,917 shares of company stock valued at $14,758,951. Company insiders own 10.80% of the company's stock.

Hippo Stock Performance

Hippo stock traded down $0.33 during mid-day trading on Thursday, reaching $33.38. 90,320 shares of the stock traded hands, compared to its average volume of 184,776. The stock has a market capitalization of $835.38 million, a PE ratio of -68.11 and a beta of 1.53. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.91 and a quick ratio of 0.91. Hippo Holdings Inc. has a 12-month low of $15.74 and a 12-month high of $35.44. The business's 50-day moving average is $28.61 and its 200-day moving average is $26.67.

Hippo (NYSE:HIPO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, beating analysts' consensus estimates of ($0.65) by $1.30. The company had revenue of $117.30 million during the quarter, compared to analysts' expectations of $116.00 million. Hippo had a negative return on equity of 12.13% and a negative net margin of 2.52%. As a group, sell-side analysts predict that Hippo Holdings Inc. will post -3.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

HIPO has been the subject of several recent analyst reports. Wall Street Zen upgraded Hippo from a "hold" rating to a "buy" rating in a research note on Sunday, August 17th. B. Riley upped their price objective on Hippo from $35.00 to $41.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Finally, JMP Securities upped their price objective on Hippo from $35.00 to $40.00 and gave the company a "market outperform" rating in a research report on Thursday, August 7th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Hippo currently has an average rating of "Moderate Buy" and a consensus price target of $34.25.

Hippo Profile

Hippo Holdings Inc provides property and casualty insurance products to individuals and business customers primarily in the United States. The company operates through three segments: Services, Insurance-as-a-Service, and Hippo Home Insurance Program. Its insurance products include homeowners' insurance against risks of fire, wind, and theft, as well as other personal lines policies from third party carriers; and personal and commercial, as well as home, auto, cyber, small business, life, specialty lines, and other insurance products.