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

Key Points

• CEO Richard McCathron sold 5,000 Hippo shares at an average price of $34.18, generating $170,900. After the transaction, he retained 562,132 shares, representing a 0.88% reduction in ownership.
• Hippo shares traded around $34.37, with the stock up from its 12-month low of $24.08 but below its 12-month high of $38.72. The company recently reported quarterly earnings of $0.79 per share, well above analyst expectations.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $40.50, while institutional investors own approximately 43% of Hippo’s outstanding stock.

Hippo Holdings Inc. (NYSE:HIPO - Get Free Report) CEO Richard McCathron sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, October 9th. The shares were sold at an average price of $34.18, for a total transaction of $170,900.00. Following the completion of the sale, the chief executive officer owned 562,132 shares in the company, valued at approximately $19,213,671.76. The trade was a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• 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 transaction of $161,150.00.
• On Monday, August 10th, Richard McCathron sold 5,000 shares of Hippo stock. The stock was sold at an average price of $32.00, for a total transaction of $160,000.00.

Hippo Price Performance

Shares of HIPO traded up $0.06 during trading hours on Tuesday, reaching $34.37. The stock had a trading volume of 210,287 shares, compared to its average volume of 148,898. Hippo Holdings Inc. has a 12 month low of $24.08 and a 12 month high of $38.72. The stock has a market capitalization of $907.02 million, a PE ratio of 7.39 and a beta of 1.55. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.95 and a current ratio of 0.95. The company's 50-day moving average is $32.49 and its two-hundred day moving average is $29.05.

Hippo (NYSE:HIPO - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.79 earnings per share for the quarter, topping analysts' consensus estimates of ($0.17) by $0.96. The business had revenue of $144.70 million for the quarter, compared to analyst estimates of $137.44 million. Hippo had a return on equity of 10.68% and a net margin of 23.92%. Research analysts expect that Hippo Holdings Inc. will post 1.50 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. B. Riley Financial reaffirmed a "buy" rating and set a $41.50 price target (up from $38.00) on shares of Hippo in a research report on Monday, August 3rd. Zacks Research lowered Hippo from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 2nd. Keefe, Bruyette & Woods upped their target price on Hippo from $33.00 to $35.00 and gave the company a "market perform" rating in a research report on Thursday, August 6th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Hippo in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Hippo currently has an average rating of "Moderate Buy" and a consensus target price of $40.50.

Hedge Funds Weigh In On Hippo

Large investors have recently modified their holdings of the company. State Street Corp lifted its position in Hippo by 9.1% in the 2nd quarter. State Street Corp now owns 443,716 shares of the company's stock valued at $12,539,000 after acquiring an additional 37,097 shares in the last quarter. Citadel Advisors LLC boosted its stake in Hippo by 90.5% during the 2nd quarter. Citadel Advisors LLC now owns 140,734 shares of the company's stock valued at $3,977,000 after purchasing an additional 66,863 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Hippo during the 2nd quarter worth approximately $178,000. AWM Investment Company Inc. bought a new stake in Hippo during the 2nd quarter worth approximately $2,826,000. Finally, BlackRock Inc. increased its holdings in Hippo by 17.8% during the 2nd quarter. BlackRock Inc. now owns 1,498,306 shares of the company's stock worth $42,342,000 after purchasing an additional 226,533 shares in the last quarter. 43.01% of the stock is currently owned by institutional investors.

Hippo Company Profile

Hippo Holdings Inc is a technology-focused property and casualty insurance company that provides homeowners insurance and related services in the United States. The company combines digital insurance tools, data analytics and home-monitoring technology to simplify the process of obtaining coverage and managing a policy.

Hippo's offerings are centered on homeowners insurance, including coverage for residential property, personal belongings, liability and additional living expenses. Through its home protection platform, the company also provides resources and services intended to help customers identify and address potential risks before they lead to costly losses, such as water leaks, fire hazards and other property-related issues.

Founded in 2015 by Assaf Wand and Eyal Navon, Hippo became a publicly traded company in 2021 through a business combination with Reinvent Technology Partners Z.

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