Richard Mccathron Sells 2,725 Shares of Hippo (NYSE:HIPO) Stock

Key Points

• CEO Richard Mccathron sold 2,725 shares of Hippo stock for approximately $92,977, decreasing his ownership in the company by 0.58%.
• Hippo's share price was $35.73, with trading volume exceeding its average, while its 52-week range is $15.74 to $37.90.
• Recent analyst upgrades raised Hippo's target price, with B. Riley updating it to $41.00 and JMP Securities to $40.00, reflecting positive sentiment among analysts.

Hippo Holdings Inc. (NYSE:HIPO - Get Free Report) CEO Richard Mccathron sold 2,725 shares of the stock in a transaction on Monday, September 8th. The shares were sold at an average price of $34.12, for a total value of $92,977.00. Following the sale, the chief executive officer directly owned 470,388 shares in the company, valued at $16,049,638.56. This trade represents a 0.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Friday, August 22nd, Richard Mccathron sold 2,275 shares of Hippo stock. The shares were sold at an average price of $34.00, for a total value of $77,350.00.

Hippo Stock Up 0.5%

Shares of HIPO traded up $0.20 during midday trading on Monday, hitting $37.49. 285,687 shares of the company's stock traded hands, compared to its average volume of 175,760. Hippo Holdings Inc. has a 1 year low of $15.74 and a 1 year high of $38.98. The firm's fifty day moving average is $30.31 and its 200-day moving average is $27.13. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $938.25 million, a price-to-earnings ratio of -76.50 and a beta of 1.55.

Hippo (NYSE:HIPO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of ($0.65) by $1.30. The firm had revenue of $117.30 million during the quarter, compared to analyst estimates of $116.00 million. Hippo had a negative return on equity of 12.13% and a negative net margin of 2.52%. As a group, sell-side analysts anticipate that Hippo Holdings Inc. will post -3.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

HIPO has been the subject of a number of research analyst reports. JMP Securities raised their target price on Hippo from $35.00 to $40.00 and gave the stock a "market outperform" rating in a research note on Thursday, August 7th. Wall Street Zen upgraded Hippo from a "hold" rating to a "buy" rating in a research note on Sunday, August 17th. Finally, B. Riley raised their target price on Hippo from $35.00 to $41.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $34.25.

Hedge Funds Weigh In On Hippo

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Hippo by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 1,044,502 shares of the company's stock valued at $26,697,000 after buying an additional 24,253 shares during the last quarter. Hood River Capital Management LLC purchased a new position in shares of Hippo during the 2nd quarter valued at about $13,665,000. Westerly Capital Management LLC raised its stake in shares of Hippo by 30.4% during the 2nd quarter. Westerly Capital Management LLC now owns 326,000 shares of the company's stock valued at $9,105,000 after buying an additional 76,000 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Hippo by 30.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 208,472 shares of the company's stock valued at $5,823,000 after buying an additional 48,677 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Hippo by 1.4% during the 4th quarter. Northern Trust Corp now owns 161,253 shares of the company's stock valued at $4,317,000 after buying an additional 2,232 shares during the last quarter. Hedge funds and other institutional investors own 43.01% of the company's stock.

Hippo Company 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.