Hippo (NYSE:HIPO) CEO Richard Mccathron Sells 5,000 Shares of Stock

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

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 transaction 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 transaction of $160,000.00.

Hippo Stock Up 0.2%

Hippo stock opened at $34.37 on Wednesday. The company has a market capitalization of $907.02 million, a PE ratio of 7.39 and a beta of 1.55. Hippo Holdings Inc. has a 12-month low of $24.08 and a 12-month high of $38.72. The firm’s fifty day moving average is $32.52 and its 200 day moving average is $29.11. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.10.

Hippo (NYSE:HIPO) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.96. Hippo had a net margin of 23.92% and a return on equity of 10.68%. The business had revenue of $144.70 million during the quarter, compared to analysts’ expectations of $137.44 million. As a group, sell-side analysts predict that Hippo Holdings Inc. will post 1.50 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

HIPO has been the subject of several research reports. Weiss Ratings restated a “hold (c)” rating on shares of Hippo in a research note on Friday, July 31st. Keefe, Bruyette & Woods boosted their target price on Hippo from $33.00 to $35.00 and gave the company a “market perform” rating in a research report on Thursday, August 6th. B. Riley Financial reaffirmed a “buy” rating and set a $41.50 price target (up from $38.00) on shares of Hippo in a research note on Monday, August 3rd. Finally, Zacks Research lowered Hippo from a “strong-buy” rating to a “hold” rating in a report on Friday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.25.

Institutional Trading of Hippo

Several hedge funds have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd bought a new stake in shares of Hippo during the fourth quarter worth about $26,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Hippo in the 2nd quarter worth about $178,000. State of Wyoming lifted its position in Hippo by 22.9% in the 2nd quarter. State of Wyoming now owns 8,666 shares of the company’s stock valued at $245,000 after acquiring an additional 1,612 shares in the last quarter. R Squared Ltd bought a new position in Hippo in the 1st quarter valued at about $253,000. Finally, Quantinno Capital Management LP boosted its stake in Hippo by 118.7% during the 1st quarter. Quantinno Capital Management LP now owns 17,529 shares of the company’s stock valued at $457,000 after purchasing an additional 9,515 shares during the last quarter. Institutional investors and hedge funds own 43.01% of the company’s stock.

About Hippo

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.