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 stock was sold at an average price of $34.12, for a total transaction of $92,977.00. Following the transaction, the chief executive officer directly owned 470,388 shares in the company, valued at approximately $16,049,638.56. This represents a 0.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

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

Hippo Stock Performance

Shares of NYSE HIPO traded down $1.24 during trading on Wednesday, hitting $35.73. 176,473 shares of the company traded hands, compared to its average volume of 173,327. The business's fifty day moving average is $29.59 and its 200 day moving average is $26.88. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.91 and a quick ratio of 0.91. Hippo Holdings Inc. has a fifty-two week low of $15.74 and a fifty-two week high of $37.90.

Hippo (NYSE:HIPO - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, beating analysts' consensus estimates of ($0.65) by $1.30. Hippo had a negative return on equity of 12.13% and a negative net margin of 2.52%.The business had revenue of $117.30 million during the quarter, compared to analyst estimates of $116.00 million. On average, equities research analysts forecast that Hippo Holdings Inc. will post -3.63 EPS for the current year.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Hood River Capital Management LLC bought a new stake in Hippo in the 2nd quarter valued at about $13,665,000. Philadelphia Financial Management of San Francisco LLC purchased a new position in shares of Hippo in the first quarter worth about $2,636,000. Sei Investments Co. bought a new stake in shares of Hippo in the second quarter valued at approximately $2,810,000. Tenzing Global Management LLC purchased a new stake in shares of Hippo during the 1st quarter valued at approximately $2,556,000. Finally, Invesco Ltd. boosted its holdings in Hippo by 256.4% in the 1st quarter. Invesco Ltd. now owns 127,835 shares of the company's stock worth $3,267,000 after buying an additional 91,969 shares during the period. Hedge funds and other institutional investors own 43.01% of the company's stock.

About Hippo

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.

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