Informed Momentum Co LLC Sells 17,174 Shares of Hippo Holdings Inc. (NYSE:HIPO)

Key Points

• Informed Momentum Co LLC reduced its stake in Hippo Holdings by 45.1% during the first quarter, selling 17,174 shares and now holds approximately 0.08% of the company.
• Despite the sale by Informed Momentum, other institutional investors, like Vanguard Group and Renaissance Technologies, increased their holdings in Hippo, indicating a mixed sentiment among investors.
• Hippo's recent earnings report showed a profit of $0.65 per share, exceeding analysts' expectations, with an average consensus rating of "Moderate Buy" from research analysts.

Informed Momentum Co LLC lowered its position in Hippo Holdings Inc. (NYSE:HIPO - Free Report) by 45.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,921 shares of the company's stock after selling 17,174 shares during the period. Informed Momentum Co LLC owned 0.08% of Hippo worth $535,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Hippo by 2.4% during the first quarter. Vanguard Group Inc. now owns 1,044,502 shares of the company's stock valued at $26,697,000 after acquiring an additional 24,253 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Hippo by 90.8% in the 4th quarter. Renaissance Technologies LLC now owns 268,320 shares of the company's stock worth $7,183,000 after purchasing an additional 127,716 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Hippo by 96.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 228,137 shares of the company's stock worth $6,107,000 after purchasing an additional 112,108 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Hippo by 46.3% in the 4th 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 last quarter. Finally, Northern Trust Corp raised its position in shares of Hippo by 1.4% in the 4th quarter. Northern Trust Corp now owns 161,253 shares of the company's stock worth $4,317,000 after purchasing an additional 2,232 shares during the last quarter. Institutional investors own 43.01% of the company's stock.

Hippo Stock Down 0.1%

HIPO traded down $0.03 during trading on Friday, hitting $30.88. 162,888 shares of the company's stock traded hands, compared to its average volume of 180,513. The stock has a market capitalization of $776.85 million, a price-to-earnings ratio of -63.02 and a beta of 1.53. Hippo Holdings Inc. has a 12-month low of $15.74 and a 12-month high of $35.44. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.14. The company's 50 day simple moving average is $27.84 and its two-hundred day simple moving average is $26.45.

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on HIPO shares. JMP Securities lifted their price target on Hippo from $35.00 to $40.00 and gave the stock a "market outperform" rating in a research report on Thursday, August 7th. Wall Street Zen raised Hippo from a "hold" rating to a "buy" rating in a research report on Sunday. Keefe, Bruyette & Woods increased their target price on Hippo from $24.00 to $26.00 and gave the company a "market perform" rating in a research note on Tuesday, April 22nd. Finally, B. Riley increased their target price on Hippo from $35.00 to $41.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Hippo presently has an average rating of "Moderate Buy" and a consensus target price of $34.25.

Insiders Place Their Bets

In other Hippo news, CEO Torben Ostergaard sold 4,889 shares of the firm's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $24.61, for a total transaction of $120,318.29. Following the sale, the chief executive officer directly owned 66,793 shares of the company's stock, valued at $1,643,775.73. This trade represents a 6.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Len Fw Investor, Llc sold 514,309 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $28.17, for a total value of $14,488,084.53. Following the sale, the insider directly owned 2,476,418 shares in the company, valued at approximately $69,760,695.06. This represents a 17.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 521,642 shares of company stock worth $14,681,601. 10.80% of the stock is owned by insiders.

About Hippo

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.