Deutsche Bank AG Raises Position in 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 boosted its holdings in shares of Hippo Holdings Inc. (NYSE:HIPO - Free Report) by 251.7% during the 1st quarter, according to the company in 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 period. Deutsche Bank AG owned approximately 0.24% of Hippo worth $1,540,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in HIPO. Ameriprise Financial Inc. boosted its stake in shares of Hippo by 72.0% during the 4th quarter. Ameriprise Financial Inc. now owns 38,977 shares of the company's stock worth $1,043,000 after buying an additional 16,313 shares during the last quarter. Two Sigma Investments LP bought a new position in shares of Hippo during the 4th quarter worth approximately $259,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Hippo during the 1st quarter worth approximately $1,427,000. Jump Financial LLC bought a new stake in Hippo in the 4th quarter valued at $311,000. Finally, Fluent Financial LLC bought a new stake in Hippo in the 1st quarter valued at $469,000. Institutional investors own 43.01% of the company's stock.

Hippo Price Performance

HIPO stock traded down $0.18 during midday trading on Wednesday, reaching $33.48. 44,700 shares of the stock were exchanged, compared to its average volume of 209,960. 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 52 week low of $15.74 and a 52 week high of $35.44. The company has a fifty day moving average price of $28.43 and a 200 day moving average price of $26.60. The stock has a market capitalization of $838.00 million, a PE ratio of -68.33 and a beta of 1.53.

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

Insider Buying and Selling at Hippo

In other news, major shareholder Len Fw Investor, Llc sold 514,309 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $28.17, for a total transaction of $14,488,084.53. Following the completion of the sale, the insider directly owned 2,476,418 shares of the company's stock, valued at $69,760,695.06. The trade was a 17.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Richard Mccathron sold 2,275 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $34.00, for a total transaction of $77,350.00. Following the completion of the transaction, the chief executive officer directly owned 473,113 shares in the company, valued at approximately $16,085,842. The trade was a 0.48% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 523,917 shares of company stock valued at $14,758,951. Corporate insiders own 10.80% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on HIPO shares. Wall Street Zen upgraded shares of Hippo from a "hold" rating to a "buy" rating in a research note on Sunday, August 17th. B. Riley raised their target price on shares of Hippo from $35.00 to $41.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Finally, JMP Securities boosted their price target on Hippo from $35.00 to $40.00 and gave the company a "market outperform" rating in a research note on Thursday, August 7th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Hippo has a consensus rating of "Moderate Buy" and an average target price of $34.25.

Hippo Company 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.