Hippo Holdings Inc. (NYSE:HIPO) Position Trimmed by Clal Insurance Enterprises Holdings Ltd

Clal Insurance Enterprises Holdings Ltd decreased its holdings in shares of Hippo Holdings Inc. (NYSE:HIPO) by 17.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 457,416 shares of the company’s stock after selling 95,736 shares during the period. Clal Insurance Enterprises Holdings Ltd owned about 1.82% of Hippo worth $11,692,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in HIPO. Vanguard Group Inc. grew its holdings in Hippo by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 1,044,502 shares of the company’s stock worth $26,697,000 after buying an additional 24,253 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Hippo by 90.8% in the 4th quarter. Renaissance Technologies LLC now owns 268,320 shares of the company’s stock worth $7,183,000 after acquiring an additional 127,716 shares during the period. Dimensional Fund Advisors LP boosted its stake in Hippo by 96.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 228,137 shares of the company’s stock valued at $6,107,000 after purchasing an additional 112,108 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Hippo by 46.3% during the 4th quarter. JPMorgan Chase & Co. now owns 213,784 shares of the company’s stock valued at $5,723,000 after purchasing an additional 67,608 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in 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 purchasing an additional 2,232 shares in the last quarter. Institutional investors own 43.01% of the company’s stock.

Insider Buying and Selling

In other Hippo news, major shareholder Len Fw Investor, Llc sold 514,309 shares of the firm’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $28.17, for a total transaction of $14,488,084.53. Following the transaction, the insider directly owned 2,476,418 shares in the company, valued at $69,760,695.06. This trade represents a 17.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Torben Ostergaard sold 2,444 shares of the firm’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $29.95, for a total value of $73,197.80. Following the transaction, the chief executive officer owned 64,349 shares in the company, valued at approximately $1,927,252.55. This trade represents a 3.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 521,642 shares of company stock valued at $14,681,601 over the last quarter. Corporate insiders own 10.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HIPO. B. Riley raised their price objective on shares of Hippo from $35.00 to $41.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Wall Street Zen upgraded shares of Hippo from a “sell” rating to a “hold” rating in a research report on Saturday. JMP Securities raised their price objective on Hippo from $35.00 to $40.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 7th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Hippo from $24.00 to $26.00 and gave the stock a “market perform” rating in a report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.25.

Hippo Stock Performance

HIPO stock opened at $28.92 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market cap of $727.73 million, a P/E ratio of -59.03 and a beta of 1.53. The firm has a 50 day simple moving average of $27.44 and a 200 day simple moving average of $26.35. Hippo Holdings Inc. has a 52 week low of $15.74 and a 52 week high of $35.44.

Hippo (NYSE:HIPO) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of ($0.65) by $1.30. The business had revenue of $117.30 million during the quarter, compared to analysts’ expectations of $116.00 million. Hippo had a negative net margin of 2.52% and a negative return on equity of 12.13%. Research analysts anticipate that Hippo Holdings Inc. will post -3.63 earnings per share for the current fiscal year.

Hippo 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.