Clal Insurance Enterprises Holdings Ltd Sells 95,736 Shares of Hippo Holdings Inc. (NYSE:HIPO)

Key Points

• Clal Insurance Enterprises Holdings Ltd has reduced its holdings in Hippo Holdings Inc. by 17.3%, now owning 457,416 shares valued at about $11.69 million.
• Notable institutional investors, including Vanguard Group and Renaissance Technologies, have increased their stakes in Hippo, indicating institutional interest in the company.
• Hippo reported a $0.65 EPS for the recent quarter, surpassing expectations, with revenue of $117.3 million compared to forecasts of $116.0 million.

Clal Insurance Enterprises Holdings Ltd reduced its position in Hippo Holdings Inc. (NYSE:HIPO - Free Report) by 17.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 457,416 shares of the company's stock after selling 95,736 shares during the period. Clal Insurance Enterprises Holdings Ltd owned 1.82% of Hippo worth $11,692,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Hippo by 10.5% during the fourth quarter. Vanguard Group Inc. now owns 1,020,249 shares of the company's stock worth $27,312,000 after purchasing an additional 96,959 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Hippo by 46.3% during the fourth quarter. JPMorgan Chase & Co. now owns 213,784 shares of the company's stock worth $5,723,000 after purchasing an additional 67,608 shares during the period. Wells Fargo & Company MN grew its stake in shares of Hippo by 29.2% during the fourth quarter. Wells Fargo & Company MN now owns 12,216 shares of the company's stock worth $327,000 after purchasing an additional 2,759 shares during the period. Invesco Ltd. lifted its holdings in Hippo by 1.5% during the fourth quarter. Invesco Ltd. now owns 35,866 shares of the company's stock worth $960,000 after acquiring an additional 539 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Hippo by 90.8% during the fourth quarter. Renaissance Technologies LLC now owns 268,320 shares of the company's stock worth $7,183,000 after acquiring an additional 127,716 shares in the last quarter. 43.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Hippo

In other Hippo news, major shareholder Len Fw Investor, Llc sold 514,309 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $28.17, for a total value of $14,488,084.53. Following the sale, the insider owned 2,476,418 shares in the company, valued at $69,760,695.06. This represents a 17.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Torben Ostergaard sold 2,444 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $29.95, for a total value of $73,197.80. Following the completion of the sale, the chief executive officer owned 64,349 shares in the company, valued at $1,927,252.55. This represents a 3.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold 521,642 shares of company stock worth $14,681,601 in the last 90 days. Corporate insiders own 10.80% of the company's stock.

Hippo Stock Down 0.1%

HIPO traded down $0.03 on Friday, hitting $30.88. 162,888 shares of the company were exchanged, compared to its average volume of 180,513. Hippo Holdings Inc. has a 12 month low of $15.74 and a 12 month high of $35.44. The company has a market cap of $776.94 million, a PE ratio of -63.02 and a beta of 1.53. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.91 and a current ratio of 0.91. The stock's fifty day moving average is $27.84 and its 200-day moving average is $26.46.

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wall Street Zen upgraded Hippo from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Keefe, Bruyette & Woods lifted their target price on Hippo from $24.00 to $26.00 and gave the stock a "market perform" rating in a report on Tuesday, April 22nd. B. Riley lifted their target price on 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 report on Thursday, August 7th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.