Invesco Ltd. Acquires 91,969 Shares of Hippo Holdings Inc. $HIPO

Key Points

• Invesco Ltd. increased its holdings in Hippo Holdings by 256.4% in the first quarter, acquiring an additional 91,969 shares, raising its total ownership to about 0.51% valued at $3,267,000.
• Several hedge funds, including Deutsche Bank AG and Vanguard Group Inc., also increased their stakes in Hippo, with 43.01% of the stock owned by institutional investors.
• Hippo's stock received upgrades from multiple analysts, with JMP Securities raising its price target from $35.00 to $40.00 and the current consensus rating being a "Moderate Buy."

Invesco Ltd. boosted its stake in shares of Hippo Holdings Inc. (NYSE:HIPO - Free Report) by 256.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,835 shares of the company's stock after purchasing an additional 91,969 shares during the quarter. Invesco Ltd. owned about 0.51% of Hippo worth $3,267,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of HIPO. Public Employees Retirement System of Ohio increased its position in Hippo by 13.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 11,736 shares of the company's stock worth $314,000 after buying an additional 1,400 shares during the period. Price T Rowe Associates Inc. MD increased its position in Hippo by 5.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,768 shares of the company's stock worth $717,000 after acquiring an additional 1,434 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Hippo by 1.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 154,130 shares of the company's stock worth $3,940,000 after purchasing an additional 1,466 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in Hippo by 13.3% in the 4th quarter. MetLife Investment Management LLC now owns 13,394 shares of the company's stock valued at $359,000 after purchasing an additional 1,573 shares during the period. Finally, Northern Trust Corp boosted its holdings in Hippo by 1.4% in the 4th quarter. Northern Trust Corp now owns 161,253 shares of the company's stock valued at $4,317,000 after purchasing an additional 2,232 shares during the period. Institutional investors own 43.01% of the company's stock.

Hippo Trading Up 0.4%

HIPO traded up $0.13 during trading on Wednesday, reaching $32.66. 44,059 shares of the company's stock were exchanged, compared to its average volume of 208,088. The stock has a market capitalization of $817.45 million, a PE ratio of -66.60 and a beta of 1.55. The firm has a fifty day moving average price of $28.92 and a two-hundred day moving average price of $26.70. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.14. Hippo Holdings Inc. has a one year low of $15.74 and a one year high of $35.44.

Hippo (NYSE:HIPO - Get Free Report) last announced its quarterly earnings data 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 company 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%. As a group, equities research analysts forecast that Hippo Holdings Inc. will post -3.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on HIPO shares. JMP Securities increased their target price on Hippo from $35.00 to $40.00 and gave the stock a "market outperform" rating in a report on Thursday, August 7th. Wall Street Zen upgraded shares of Hippo from a "hold" rating to a "buy" rating in a research note on Sunday, August 17th. Finally, B. Riley boosted their target price on shares of Hippo from $35.00 to $41.00 and gave the company a "buy" 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 company. According to MarketBeat.com, Hippo has a consensus rating of "Moderate Buy" and a consensus price target of $34.25.

Insider Buying and Selling

In other news, major shareholder Len Fw Investor, Llc sold 514,309 shares of Hippo 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 transaction, the insider directly owned 2,476,418 shares in the company, valued at $69,760,695.06. This trade represents a 17.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard Mccathron sold 2,275 shares of the firm's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $34.00, for a total value of $77,350.00. Following the transaction, the chief executive officer owned 473,113 shares in the company, valued at approximately $16,085,842. This trade represents a 0.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 519,028 shares of company stock worth $14,638,632 in the last ninety days. Corporate insiders own 10.80% of the company's stock.

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.