Citadel Advisors LLC Grows Position in Hippo Holdings Inc. $HIPO

Citadel Advisors LLC raised its stake in shares of Hippo Holdings Inc. (NYSE:HIPO) by 90.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,734 shares of the company’s stock after purchasing an additional 66,863 shares during the quarter. Citadel Advisors LLC owned about 0.53% of Hippo worth $3,977,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Caitong International Asset Management Co. Ltd purchased a new position in Hippo in the 4th quarter worth $26,000. Altshuler Shaham Ltd grew its stake in Hippo by 270.4% during the 4th quarter. Altshuler Shaham Ltd now owns 1,000 shares of the company’s stock valued at $30,000 after purchasing an additional 730 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Hippo in the second quarter valued at about $33,000. Kemnay Advisory Services Inc. purchased a new position in shares of Hippo in the fourth quarter worth about $56,000. Finally, Royal Bank of Canada raised its stake in shares of Hippo by 109.4% in the fourth quarter. Royal Bank of Canada now owns 3,174 shares of the company’s stock worth $95,000 after purchasing an additional 1,658 shares during the last quarter. 43.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Hippo in a research report on Friday, July 31st. B. Riley Financial reissued 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. Texas Capital upgraded shares of Hippo to a “strong-buy” rating in a research note on Tuesday, June 9th. Keefe, Bruyette & Woods raised their target price on shares of Hippo from $33.00 to $35.00 and gave the stock a “market perform” rating in a report on Thursday, August 6th. Finally, Zacks Research upgraded shares of Hippo from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $40.50.

Insider Transactions at Hippo

In other news, CEO Richard McCathron sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $32.00, for a total value of $160,000.00. Following the completion of the sale, the chief executive officer directly owned 580,433 shares in the company, valued at $18,573,856. The trade was a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Guy Zeltser sold 1,669 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $30.98, for a total transaction of $51,705.62. Following the sale, the chief financial officer directly owned 120,563 shares of the company’s stock, valued at $3,735,041.74. This represents a 1.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 12,838 shares of company stock valued at $392,933 in the last ninety days. 4.48% of the stock is currently owned by corporate insiders.

Hippo Stock Performance

HIPO opened at $33.79 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a fifty day moving average price of $31.14 and a 200 day moving average price of $28.18. Hippo Holdings Inc. has a 1 year low of $24.08 and a 1 year high of $38.98. The stock has a market cap of $891.72 million, a P/E ratio of 7.27 and a beta of 1.55.

Hippo (NYSE:HIPO) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of ($0.17) by $0.96. Hippo had a net margin of 23.92% and a return on equity of 10.68%. The company had revenue of $144.70 million for the quarter, compared to analyst estimates of $137.44 million. Equities research analysts anticipate that Hippo Holdings Inc. will post 1.5 earnings per share for the current year.

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.