Trexquant Investment LP Purchases 12,403 Shares of Hippo Holdings Inc. $HIPO

Key Points

• Trexquant Investment LP increased its stake in Hippo Holdings Inc. by 41.6%, owning 42,186 shares valued at approximately $1.08 million.
• Other institutional investors, like Deutsche Bank AG and Invesco Ltd., significantly raised their holdings, with Deutsche Bank's stake increasing by 251.7%.
• Hippo Holdings reported quarterly earnings of $0.65 EPS, exceeding expectations, and analysts predict an annual EPS of -3.63.

Trexquant Investment LP grew its holdings in Hippo Holdings Inc. (NYSE:HIPO - Free Report) by 41.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,186 shares of the company's stock after purchasing an additional 12,403 shares during the period. Trexquant Investment LP owned approximately 0.17% of Hippo worth $1,078,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Public Employees Retirement System of Ohio boosted its stake in shares of Hippo by 13.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 11,736 shares of the company's stock valued at $314,000 after purchasing an additional 1,400 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Hippo by 5.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 26,768 shares of the company's stock valued at $717,000 after purchasing an additional 1,434 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Hippo by 1.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 154,130 shares of the company's stock valued at $3,940,000 after acquiring an additional 1,466 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Hippo by 1.4% in the fourth quarter. Northern Trust Corp now owns 161,253 shares of the company's stock worth $4,317,000 after buying an additional 2,232 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in shares of Hippo in the fourth quarter worth approximately $118,000. Institutional investors own 43.01% of the company's stock.

Analyst Upgrades and Downgrades

HIPO has been the topic of several research reports. Wall Street Zen upgraded shares of Hippo from a "hold" rating to a "buy" rating in a research report on Sunday, August 17th. JMP Securities boosted their target price 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. Finally, B. Riley upped their price objective on shares of Hippo from $35.00 to $41.00 and gave the company a "buy" rating in a 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $34.25.

Insider Activity

In related news, CEO Richard Mccathron sold 2,275 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $34.00, for a total value of $77,350.00. Following the sale, the chief executive officer owned 473,113 shares of the company's stock, valued at approximately $16,085,842. This trade represents a 0.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Len Fw Investor, Llc sold 514,309 shares of Hippo stock in a transaction on 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 transaction, the insider owned 2,476,418 shares in the company, valued at approximately $69,760,695.06. This trade represents a 17.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 519,028 shares of company stock worth $14,638,632. 10.80% of the stock is currently owned by corporate insiders.

Hippo Stock Up 0.9%

HIPO stock traded up $0.34 during trading on Tuesday, hitting $36.93. 358,238 shares of the company's stock were exchanged, compared to its average volume of 163,126. The business has a 50-day moving average price of $29.59 and a two-hundred day moving average price of $26.88. The stock has a market capitalization of $924.31 million, a price-to-earnings ratio of -75.36 and a beta of 1.55. Hippo Holdings Inc. has a 52-week low of $15.74 and a 52-week high of $37.90. 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 (NYSE:HIPO - Get Free Report) last released 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 return on equity of 12.13% and a negative net margin of 2.52%. As a group, equities research analysts expect that Hippo Holdings Inc. will post -3.63 EPS for the current year.

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.