Philadelphia Financial Management of San Francisco LLC Takes Position in Hippo Holdings Inc. $HIPO

Key Points

• Philadelphia Financial Management of San Francisco LLC acquired 103,135 shares of Hippo Holdings Inc., valued at approximately $2.64 million, during the first quarter, increasing their ownership to 0.41% of the company.
• Insider selling is notable, with major shareholder Len Fw Investor, LLC selling 514,309 shares for approximately $14.49 million, marking a 17.20% decrease in their holdings.
• Analysts have raised their price targets for Hippo, with JMP Securities increasing it from $35.00 to $40.00, reflecting a positive outlook with a consensus rating of "Moderate Buy" on the stock.

Philadelphia Financial Management of San Francisco LLC acquired a new stake in Hippo Holdings Inc. (NYSE:HIPO - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 103,135 shares of the company's stock, valued at approximately $2,636,000. Philadelphia Financial Management of San Francisco LLC owned approximately 0.41% of Hippo as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its holdings in shares of Hippo by 96.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 228,137 shares of the company's stock valued at $6,107,000 after purchasing an additional 112,108 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Hippo by 5.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,768 shares of the company's stock worth $717,000 after purchasing an additional 1,434 shares during the period. The Manufacturers Life Insurance Company bought a new position in Hippo during the fourth quarter valued at approximately $200,000. Northern Trust Corp lifted 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 period. Finally, Ameriprise Financial Inc. lifted its stake in shares of Hippo by 72.0% in the fourth quarter. Ameriprise Financial Inc. now owns 38,977 shares of the company's stock worth $1,043,000 after buying an additional 16,313 shares in the last quarter. 43.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. JMP Securities upped their target price on shares of Hippo from $35.00 to $40.00 and gave the company a "market outperform" rating in a research report on Thursday, August 7th. B. Riley lifted their price target on Hippo from $35.00 to $41.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Finally, Wall Street Zen raised shares of Hippo from a "hold" rating to a "buy" rating in a research report on Sunday, August 17th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, Hippo has an average rating of "Moderate Buy" and an average price target of $34.25.

Insider Activity at Hippo

In other Hippo news, CEO Richard Mccathron sold 2,275 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $34.00, for a total transaction of $77,350.00. Following the transaction, the chief executive officer directly owned 473,113 shares in the company, valued at approximately $16,085,842. This represents a 0.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Torben Ostergaard sold 2,444 shares of the business's stock in a transaction 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 completion of the sale, the chief executive officer directly owned 64,349 shares in the company, valued at $1,927,252.55. This represents a 3.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 519,028 shares of company stock valued at $14,638,632 over the last ninety days. 10.80% of the stock is owned by insiders.

Hippo Stock Up 0.9%

HIPO stock traded up $0.34 during trading on Tuesday, reaching $36.93. The stock had a trading volume of 358,238 shares, compared to its average volume of 163,126. 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 has a market capitalization of $924.31 million, a P/E ratio of -75.36 and a beta of 1.55. Hippo Holdings Inc. has a 1-year low of $15.74 and a 1-year high of $37.90. The firm has a fifty day moving average price of $29.59 and a 200 day moving average price of $26.88.

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