Hippo Holdings Inc. $HIPO Holdings Reduced by Ieq Capital LLC

Key Points

• Ieq Capital LLC reduced its stake in Hippo Holdings Inc. by 18.7% in Q1, now holding 87,086 shares valued at approximately $2.23 million.
• Several other institutional investors, including Wells Fargo and Dimensional Fund Advisors, increased their holdings in Hippo during the fourth quarter, indicating positive sentiment towards the stock.
• Analysts have recently boosted their price targets for Hippo, with B. Riley setting a target of $41.00 and JMP Securities setting a target of $40.00, reflecting a generally favorable outlook.

Ieq Capital LLC lowered its position in Hippo Holdings Inc. (NYSE:HIPO - Free Report) by 18.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 87,086 shares of the company's stock after selling 20,000 shares during the period. Ieq Capital LLC owned about 0.35% of Hippo worth $2,226,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Deutsche Bank AG lifted its position in shares of Hippo by 251.7% during the 1st quarter. Deutsche Bank AG now owns 60,242 shares of the company's stock valued at $1,540,000 after acquiring an additional 43,112 shares during the period. Invesco Ltd. grew its stake in Hippo by 256.4% in the 1st quarter. Invesco Ltd. now owns 127,835 shares of the company's stock worth $3,267,000 after acquiring an additional 91,969 shares during the period. Vanguard Group Inc. grew its stake in Hippo by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 1,044,502 shares of the company's stock worth $26,697,000 after acquiring an additional 24,253 shares during the period. Nuveen LLC purchased a new stake in Hippo in the 1st quarter worth approximately $1,222,000. Finally, Ameriprise Financial Inc. grew 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 valued at $1,043,000 after buying an additional 16,313 shares during the period. Institutional investors and hedge funds own 43.01% of the company's stock.

Hippo Stock Up 0.8%

Shares of Hippo stock traded up $0.25 during trading on Friday, reaching $33.17. The company had a trading volume of 160,064 shares, compared to its average volume of 151,345. The company has a market cap of $830.30 million, a price-to-earnings ratio of -67.70 and a beta of 1.55. The firm's fifty day moving average is $29.24 and its 200-day moving average is $26.78. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.91 and a current ratio of 0.91. Hippo Holdings Inc. has a fifty-two week low of $15.74 and a fifty-two week high of $35.44.

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

Insider Activity

In other news, CEO Torben Ostergaard sold 2,444 shares of the company'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 owned 64,349 shares in the company, valued at approximately $1,927,252.55. This represents a 3.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the insider directly owned 2,476,418 shares of the company's stock, valued at approximately $69,760,695.06. This represents a 17.20% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 519,028 shares of company stock worth $14,638,632. 10.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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