Jacobs Levy Equity Management Inc. Acquires 17,286 Shares of Hippo Holdings Inc. (NYSE:HIPO)

Jacobs Levy Equity Management Inc. boosted its holdings in shares of Hippo Holdings Inc. (NYSE:HIPO - Free Report) by 33.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 68,485 shares of the company's stock after acquiring an additional 17,286 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.28% of Hippo worth $1,833,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. BNP Paribas Financial Markets acquired a new stake in shares of Hippo during the fourth quarter worth approximately $118,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Hippo during the 4th quarter valued at $200,000. EntryPoint Capital LLC purchased a new position in shares of Hippo during the 4th quarter valued at $204,000. Jump Financial LLC purchased a new position in shares of Hippo during the 4th quarter valued at $311,000. Finally, Wells Fargo & Company MN raised its holdings in shares of Hippo by 29.2% during the fourth quarter. Wells Fargo & Company MN now owns 12,216 shares of the company's stock worth $327,000 after acquiring an additional 2,759 shares in the last quarter. Institutional investors and hedge funds own 43.01% of the company's stock.

Insider Activity

In other news, Chairman Assaf Wand sold 12,250 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $28.90, for a total value of $354,025.00. Following the completion of the sale, the chairman now directly owns 486,814 shares of the company's stock, valued at approximately $14,068,924.60. This represents a 2.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 11.37% of the company's stock.

Hippo Stock Down 2.4%

Shares of HIPO traded down $0.55 during mid-day trading on Wednesday, hitting $22.44. 26,288 shares of the company's stock were exchanged, compared to its average volume of 168,713. Hippo Holdings Inc. has a twelve month low of $14.58 and a twelve month high of $35.44. The firm has a fifty day moving average of $24.13 and a two-hundred day moving average of $26.77. The stock has a market cap of $564.40 million, a price-to-earnings ratio of -4.30 and a beta of 1.49.

Hippo (NYSE:HIPO - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($1.91) earnings per share for the quarter, missing the consensus estimate of ($1.41) by ($0.50). The company had revenue of $110.30 million for the quarter, compared to the consensus estimate of $106.70 million. Hippo had a negative net margin of 37.94% and a negative return on equity of 36.38%. On average, equities analysts predict that Hippo Holdings Inc. will post -3.63 earnings per share for the current year.

Analyst Ratings Changes

HIPO has been the topic of a number of recent research reports. Keefe, Bruyette & Woods boosted their target price on Hippo from $24.00 to $26.00 and gave the company a "market perform" rating in a research note on Tuesday, April 22nd. Jefferies Financial Group reduced their price target on Hippo from $43.00 to $30.00 and set a "buy" rating for the company in a report on Friday, April 11th.

Hippo Profile

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.