NorthCrest Asset Manangement LLC Takes $304,000 Position in Hippo Holdings Inc. (NYSE:HIPO)

NorthCrest Asset Manangement LLC acquired a new stake in shares of Hippo Holdings Inc. (NYSE:HIPO - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund acquired 11,876 shares of the company's stock, valued at approximately $304,000.

Other institutional investors have also added to or reduced their stakes in the company. Fluent Financial LLC purchased a new position in Hippo during the 1st quarter valued at about $469,000. GAMMA Investing LLC boosted its position in shares of Hippo by 4,916.3% in the first quarter. GAMMA Investing LLC now owns 8,026 shares of the company's stock valued at $2,050,000 after acquiring an additional 7,866 shares during the period. Public Employees Retirement System of Ohio grew its stake in Hippo by 13.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 11,736 shares of the company's stock valued at $314,000 after acquiring an additional 1,400 shares in the last quarter. Sphera Management Technology Funds Ltd purchased a new position in Hippo during the fourth quarter valued at approximately $1,017,000. Finally, Two Sigma Advisers LP bought a new stake in Hippo during the 4th quarter worth approximately $200,000. Hedge funds and other institutional investors own 43.01% of the company's stock.

Insiders Place Their Bets

In other Hippo news, CEO Torben Ostergaard sold 2,444 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $29.95, for a total transaction of $73,197.80. Following the transaction, the chief executive officer now directly owns 64,349 shares in the company, valued at $1,927,252.55. This trade represents a 3.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 10.80% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on HIPO shares. Keefe, Bruyette & Woods raised their price target on shares of Hippo from $24.00 to $26.00 and gave the company a "market perform" rating in a report on Tuesday, April 22nd. Jefferies Financial Group lowered their price objective on Hippo from $43.00 to $30.00 and set a "buy" rating on the stock in a research report on Friday, April 11th.

Hippo Stock Down 2.9%

Shares of HIPO stock traded down $0.84 during trading on Tuesday, hitting $28.45. The company had a trading volume of 344,657 shares, compared to its average volume of 184,892. The stock's 50-day moving average is $24.07 and its two-hundred day moving average is $26.29. Hippo Holdings Inc. has a 52 week low of $14.58 and a 52 week high of $35.44.

Hippo (NYSE:HIPO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($1.91) EPS for the quarter, missing analysts' consensus estimates of ($1.41) by ($0.50). The company had revenue of $110.30 million during the quarter, compared to the consensus estimate of $106.70 million. Hippo had a negative return on equity of 29.27% and a negative net margin of 13.21%. Sell-side analysts predict that Hippo Holdings Inc. will post -3.63 EPS for the current fiscal year.

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.