Hippo (NYSE:HIPO) CEO Richard Mccathron Sells 5,000 Shares

Key Points

• Hippo CEO Richard Mccathron sold 5,000 shares at an average price of $32, generating $160,000 and reducing his holdings by 0.85% to 580,433 shares. He also sold 5,000 shares in both June and July.
• Hippo shares fell 1.4% to $32.93, while the company reported quarterly earnings of $0.79 per share and revenue of $144.7 million, exceeding analyst expectations.
• Analysts maintain a generally positive outlook, with the stock receiving a consensus “Buy” rating and a $40.50 average price target; institutional investors own 43.01% of the company.

Hippo Holdings Inc. (NYSE:HIPO - Get Free Report) CEO Richard Mccathron sold 5,000 shares of Hippo stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $32.00, for a total value of $160,000.00. Following the transaction, the chief executive officer owned 580,433 shares in the company, valued at $18,573,856. This trade represents a 0.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Richard Mccathron also recently made the following trade(s):

• On Thursday, July 9th, Richard Mccathron sold 5,000 shares of Hippo stock. The stock was sold at an average price of $28.53, for a total value of $142,650.00.
• On Tuesday, June 9th, Richard Mccathron sold 5,000 shares of Hippo stock. The stock was sold at an average price of $25.00, for a total value of $125,000.00.

Hippo Stock Down 1.4%

HIPO stock traded down $0.46 during mid-day trading on Wednesday, hitting $32.93. 138,947 shares of the company were exchanged, compared to its average volume of 139,060. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.95 and a current ratio of 0.95. Hippo Holdings Inc. has a 1-year low of $24.08 and a 1-year high of $38.98. The firm's 50 day simple moving average is $28.25 and its 200 day simple moving average is $27.70. The firm has a market cap of $868.99 million, a P/E ratio of 7.08 and a beta of 1.47.

Hippo (NYSE:HIPO - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.96. Hippo had a net margin of 23.92% and a return on equity of 10.68%. The company had revenue of $144.70 million during the quarter, compared to analysts' expectations of $137.44 million. On average, sell-side analysts predict that Hippo Holdings Inc. will post 1.5 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on HIPO shares. Texas Capital upgraded Hippo to a "strong-buy" rating in a report on Tuesday, June 9th. Zacks Research upgraded Hippo from a "hold" rating to a "strong-buy" rating in a report on Friday, August 7th. Keefe, Bruyette & Woods upped their price objective on Hippo from $33.00 to $35.00 and gave the stock a "market perform" rating in a research report on Thursday, August 6th. Weiss Ratings reiterated a "hold (c)" rating on shares of Hippo in a report on Friday, July 31st. Finally, B. Riley Financial reissued a "buy" rating and issued a $41.50 target price (up from $38.00) on shares of Hippo in a research report on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $40.50.

Hedge Funds Weigh In On Hippo

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of Hippo by 17.8% in the second quarter. BlackRock Inc. now owns 1,498,306 shares of the company's stock valued at $42,342,000 after acquiring an additional 226,533 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Hippo by 36.4% during the second quarter. Bank of New York Mellon Corp now owns 80,747 shares of the company's stock valued at $2,282,000 after purchasing an additional 21,556 shares during the last quarter. State of Wyoming grew its stake in Hippo by 22.9% in the second quarter. State of Wyoming now owns 8,666 shares of the company's stock valued at $245,000 after purchasing an additional 1,612 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Hippo by 151.8% in the second quarter. Russell Investments Group Ltd. now owns 38,830 shares of the company's stock valued at $1,097,000 after purchasing an additional 23,408 shares in the last quarter. Finally, Stoic Point Capital Management LLC increased its position in shares of Hippo by 0.8% during the 1st quarter. Stoic Point Capital Management LLC now owns 251,116 shares of the company's stock worth $6,544,000 after purchasing an additional 2,100 shares during the last quarter. Institutional investors own 43.01% of the company's stock.

About Hippo

Hippo Enterprises Inc is a technology-driven home insurance company that offers modernized homeowners insurance products through a digital-first platform. Leveraging data analytics, artificial intelligence and smart home devices, the company designs tailored coverage plans intended to streamline the underwriting process and deliver more comprehensive protection for homeowners. Hippo's policies typically include standard dwelling coverage, personal property protection and liability insurance, along with optional add-ons such as water backup, home computer systems and equipment breakdown coverage.

Through its online portal and partner network of licensed insurance agents, Hippo provides policyholders with a range of services aimed at minimizing risk and preventing losses before they occur.

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