Hippo (NYSE:HIPO) CEO Sells 5,000 Shares of Stock

Key Points

• Hippo CEO Richard McCathron sold 5,000 shares for $176,250 at an average price of $35.25, reducing his ownership by 0.89%; he retained 557,132 shares.
• Hippo shares rose 1.0% to $36.99 in Thursday trading, within a 52-week range of $24.08 to $39.39.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $43.50; individual ratings ranged from Hold to Buy.

Hippo Holdings Inc. (NYSE:HIPO - Get Free Report) CEO Richard McCathron sold 5,000 shares of the stock in a transaction on Monday, November 9th. The shares were sold at an average price of $35.25, for a total value of $176,250.00. Following the completion of the sale, the chief executive officer owned 557,132 shares in the company, valued at approximately $19,638,903. The trade was a 0.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Friday, October 9th, Richard McCathron sold 5,000 shares of Hippo stock. The shares were sold at an average price of $34.18, for a total value of $170,900.00.
• On Wednesday, September 9th, Richard McCathron sold 5,000 shares of Hippo stock. The stock was sold at an average price of $32.23, for a total value of $161,150.00.

Hippo Stock Up 1.0%

NYSE HIPO traded up $0.38 during trading hours on Thursday, hitting $36.99. 160,555 shares of the company were exchanged, compared to its average volume of 162,747. The company has a 50 day moving average of $34.01 and a two-hundred day moving average of $29.65. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.10. Hippo Holdings Inc. has a 52-week low of $24.08 and a 52-week high of $39.39. The firm has a market cap of $984.85 million, a price-to-earnings ratio of 30.57 and a beta of 1.60.

Hedge Funds Weigh In On Hippo

Several hedge funds have recently added to or reduced their stakes in HIPO. State of Alaska Department of Revenue acquired a new stake in Hippo during the third quarter worth approximately $31,000. Nisa Investment Advisors LLC grew its position in shares of Hippo by 306.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,894 shares of the company's stock valued at $120,000 after buying an additional 2,935 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Hippo in the 2nd quarter valued at $178,000. State of Wyoming grew its position in shares of Hippo by 22.9% in the 2nd quarter. State of Wyoming now owns 8,666 shares of the company's stock valued at $245,000 after buying an additional 1,612 shares during the last quarter. Finally, Quantinno Capital Management LP raised its stake in Hippo by 118.7% during the 1st quarter. Quantinno Capital Management LP now owns 17,529 shares of the company's stock worth $457,000 after acquiring an additional 9,515 shares in the last quarter. 43.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HIPO has been the subject of a number of recent research reports. Zacks Research downgraded shares of Hippo from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 2nd. Wall Street Zen raised shares of Hippo from a "hold" rating to a "buy" rating in a research report on Saturday, October 31st. Weiss Ratings restated a "hold (c)" rating on shares of Hippo in a report on Thursday, October 29th. B. Riley Financial reaffirmed a "buy" rating and set a $50.00 price objective (up from $41.50) on shares of Hippo in a research report on Friday, October 30th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Hippo from $35.00 to $37.00 and gave the stock a "market perform" rating in a research note on Tuesday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $43.50.

About Hippo

Hippo, Inc. is a technology-focused property and casualty insurance company that provides home insurance and related services in the United States. Its offerings include homeowners, condo, renters and landlord insurance, with coverage and availability varying by state. The company uses digital tools and property data to support insurance quotes, policy management and claims. Hippo also offers services focused on home protection and maintenance, including programs intended to help customers identify and address potential risks before they lead to damage.

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