Insider Selling: Hippo (NYSE:HIPO) CEO Sells 5,000 Shares of Stock

Hippo Holdings Inc. (NYSE:HIPO) CEO Richard McCathron sold 5,000 shares of the company’s stock in a transaction on Friday, October 9th. The stock was sold at an average price of $34.18, for a total value of $170,900.00. Following the sale, the chief executive officer owned 562,132 shares of the company’s stock, valued at $19,213,671.76. This trade represents a 0.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Wednesday, September 9th, Richard McCathron sold 5,000 shares of Hippo stock. The shares were sold at an average price of $32.23, for a total value of $161,150.00.
• On Monday, August 10th, Richard McCathron sold 5,000 shares of Hippo stock. The shares were sold at an average price of $32.00, for a total value of $160,000.00.

Hippo Stock Up 0.2%

HIPO traded up $0.06 during mid-day trading on Tuesday, reaching $34.37. 210,287 shares of the stock were exchanged, compared to its average volume of 148,898. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market capitalization of $907.02 million, a PE ratio of 7.39 and a beta of 1.55. The company has a 50 day moving average price of $32.49 and a two-hundred day moving average price of $29.05. Hippo Holdings Inc. has a 1 year low of $24.08 and a 1 year high of $38.72.

Hippo (NYSE:HIPO) last posted its earnings results on Thursday, July 30th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.96. The firm had revenue of $144.70 million during the quarter, compared to analyst estimates of $137.44 million. Hippo had a net margin of 23.92% and a return on equity of 10.68%. As a group, research analysts anticipate that Hippo Holdings Inc. will post 1.50 EPS for the current year.

Institutional Trading of Hippo

Several hedge funds have recently made changes to their positions in HIPO. Caitong International Asset Management Co. Ltd bought a new stake in shares of Hippo in the fourth quarter valued at $26,000. State of Wyoming grew its stake in shares of Hippo by 22.9% during the 2nd quarter. State of Wyoming now owns 8,666 shares of the company’s stock worth $245,000 after acquiring an additional 1,612 shares during the period. Stoic Point Capital Management LLC grew its stake in shares of Hippo by 0.8% during the 1st quarter. Stoic Point Capital Management LLC now owns 251,116 shares of the company’s stock worth $6,544,000 after acquiring an additional 2,100 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Hippo in the 2nd quarter worth about $178,000. Finally, Quantinno Capital Management LP increased its holdings in Hippo by 118.7% in the 1st quarter. Quantinno Capital Management LP now owns 17,529 shares of the company’s stock worth $457,000 after acquiring an additional 9,515 shares during the last quarter. 43.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on HIPO shares. B. Riley Financial restated a “buy” rating and set a $41.50 price target (up from $38.00) on shares of Hippo in a report on Monday, August 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Hippo in a research note on Friday, July 31st. Keefe, Bruyette & Woods lifted their target price on shares of Hippo from $33.00 to $35.00 and gave the stock a “market perform” rating in a research report on Thursday, August 6th. Finally, Zacks Research downgraded Hippo from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 2nd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.50.

Hippo Company Profile

Hippo Holdings Inc is a technology-focused property and casualty insurance company that provides homeowners insurance and related services in the United States. The company combines digital insurance tools, data analytics and home-monitoring technology to simplify the process of obtaining coverage and managing a policy.

Hippo’s offerings are centered on homeowners insurance, including coverage for residential property, personal belongings, liability and additional living expenses. Through its home protection platform, the company also provides resources and services intended to help customers identify and address potential risks before they lead to costly losses, such as water leaks, fire hazards and other property-related issues.

Founded in 2015 by Assaf Wand and Eyal Navon, Hippo became a publicly traded company in 2021 through a business combination with Reinvent Technology Partners Z.