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

Key Points

• CEO Richard McCathron sold 5,000 Hippo shares at an average price of $32.23, generating $161,150 and reducing his ownership by 0.87% to 567,132 shares. This follows two earlier sales of 5,000 shares each in July and August.
• Hippo shares recently traded at $31.98, with the stock up from its 200-day moving average but below its 52-week high of $38.98. The company reported quarterly EPS of $0.79, significantly beating the $0.17 loss analysts expected, while revenue also exceeded estimates.
• Analyst sentiment remains positive, with a consensus “Buy” rating and an average price target of $40.50. Institutional investors own approximately 43.01% of Hippo’s outstanding shares.

Hippo Holdings Inc. (NYSE:HIPO - Get Free Report) CEO Richard McCathron sold 5,000 shares of the stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $32.23, for a total value of $161,150.00. Following the sale, the chief executive officer owned 567,132 shares of the company's stock, valued at approximately $18,278,664.36. The trade was a 0.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• 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.
• 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.

Hippo Stock Down 0.2%

Hippo stock traded down $0.07 during trading on Friday, hitting $31.98. 12,318 shares of the company were exchanged, compared to its average volume of 143,009. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.10. The business's 50 day moving average is $31.34 and its 200 day moving average is $28.26. Hippo Holdings Inc. has a 52 week low of $24.08 and a 52 week high of $38.98. The company has a market capitalization of $844.08 million, a P/E ratio of 6.88 and a beta of 1.55.

Hippo (NYSE:HIPO - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.79 EPS 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%. Analysts predict that Hippo Holdings Inc. will post 1.5 earnings per share for the current year.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Hippo

A number of hedge funds and other institutional investors have recently bought and sold shares of HIPO. AQR Capital Management LLC raised its position in shares of Hippo by 8.3% during the 1st quarter. AQR Capital Management LLC now owns 16,193 shares of the company's stock valued at $414,000 after buying an additional 1,236 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Hippo by 30.5% during the second quarter. JPMorgan Chase & Co. now owns 208,472 shares of the company's stock worth $5,823,000 after purchasing an additional 48,677 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Hippo by 6.3% in the 2nd quarter. American Century Companies Inc. now owns 43,417 shares of the company's stock worth $1,213,000 after purchasing an additional 2,588 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Hippo during the 2nd quarter valued at about $33,000. Finally, Walleye Capital LLC purchased a new position in shares of Hippo during the 2nd quarter valued at about $358,000. Hedge funds and other institutional investors own 43.01% of the company's stock.

Hippo Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.