Vanguard Group Inc. Has $26.70 Million Stock Holdings in Hippo Holdings Inc. $HIPO

Key Points

• Vanguard Group Inc. increased its stake in Hippo Holdings Inc. by 2.4%, acquiring an additional 24,253 shares during the first quarter, resulting in ownership of 1,044,502 shares valued at approximately $26.7 million.
• Insider transactions included CEO Richard McCathron selling 2,275 shares, decreasing his ownership by 0.48%, while another major shareholder sold 514,309 shares, representing a 17.20% decrease in their stake.
• Wall Street analysts have a generally positive outlook on Hippo, with most rating the stock as a "buy" and an average target price of $34.25.

Vanguard Group Inc. grew its position in shares of Hippo Holdings Inc. (NYSE:HIPO - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,044,502 shares of the company's stock after acquiring an additional 24,253 shares during the quarter. Vanguard Group Inc. owned about 4.16% of Hippo worth $26,697,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BNP Paribas Financial Markets acquired a new position in shares of Hippo during the fourth quarter valued at $118,000. The Manufacturers Life Insurance Company bought a new stake in Hippo during the fourth quarter worth approximately $200,000. Two Sigma Advisers LP bought a new stake in Hippo during the fourth quarter worth approximately $200,000. Two Sigma Investments LP acquired a new stake in Hippo during the 4th quarter worth about $259,000. Finally, Sherbrooke Park Advisers LLC acquired a new stake in Hippo during the 4th quarter worth about $296,000. Institutional investors and hedge funds own 43.01% of the company's stock.

Insider Activity at Hippo

In other news, CEO Torben Ostergaard sold 4,889 shares of the business's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $24.61, for a total value of $120,318.29. Following the sale, the chief executive officer owned 66,793 shares in the company, valued at approximately $1,643,775.73. The trade was a 6.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard Mccathron sold 2,275 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $34.00, for a total transaction of $77,350.00. Following the completion of the sale, the chief executive officer owned 473,113 shares in the company, valued at $16,085,842. This represents a 0.48% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 523,917 shares of company stock worth $14,758,951. 10.80% of the stock is owned by corporate insiders.

Hippo Stock Performance

Shares of HIPO traded up $0.46 during mid-day trading on Monday, hitting $33.84. The company's stock had a trading volume of 144,212 shares, compared to its average volume of 185,914. Hippo Holdings Inc. has a one year low of $15.74 and a one year high of $35.44. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market capitalization of $847.05 million, a PE ratio of -69.07 and a beta of 1.55. The stock's 50-day moving average is $28.72 and its two-hundred day moving average is $26.63.

Hippo (NYSE:HIPO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of ($0.65) by $1.30. The company had revenue of $117.30 million during the quarter, compared to analysts' expectations 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, sell-side analysts anticipate that Hippo Holdings Inc. will post -3.63 EPS for the current year.

Analyst Ratings Changes

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

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.