Renaissance Technologies LLC Has $4.42 Million Holdings in Hippo Holdings Inc. $HIPO

Renaissance Technologies LLC decreased its stake in Hippo Holdings Inc. (NYSE:HIPO) by 17.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,620 shares of the company’s stock after selling 37,000 shares during the quarter. Renaissance Technologies LLC owned approximately 0.16% of Hippo worth $4,420,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of HIPO. Caitong International Asset Management Co. Ltd acquired a new position in Hippo during the fourth quarter worth $26,000. Altshuler Shaham Ltd boosted its stake in shares of Hippo by 270.4% in 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 in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Hippo in the 2nd quarter valued at $33,000. Torren Management LLC bought a new stake in shares of Hippo in the 4th quarter worth about $55,000. Finally, Kemnay Advisory Services Inc. bought a new stake in shares of Hippo in the 4th quarter worth about $56,000. 43.01% of the stock is currently owned by institutional investors.

Trending Headlines about Hippo

Here are the key news stories impacting Hippo this week:

• Positive Sentiment: Keefe, Bruyette & Woods raised its price target for Hippo Holdings from $33 to $35 while maintaining a “market perform” rating. The higher target suggests modest additional upside and may be supporting investor sentiment. Benzinga analyst price-target report

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on HIPO shares. Texas Capital upgraded shares of Hippo to a “strong-buy” rating in a research report on Tuesday, June 9th. Keefe, Bruyette & Woods boosted their price target on shares of Hippo from $33.00 to $35.00 and gave the company a “market perform” rating in a research report on Thursday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hippo in a research note on Friday, July 31st. Finally, B. Riley Financial reaffirmed a “buy” rating and set a $41.50 price objective (up from $38.00) on shares of Hippo in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Hippo has a consensus rating of “Moderate Buy” and a consensus price target of $40.50.

Insiders Place Their Bets

In other news, CEO Torben Ostergaard sold 3,667 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $26.10, for a total transaction of $95,708.70. Following the transaction, the chief executive officer directly owned 65,673 shares in the company, valued at approximately $1,714,065.30. This represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Guy Zeltser sold 1,669 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were 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 in the company, valued at $3,735,041.74. This trade represents a 1.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 20,336 shares of company stock valued at $550,564 in the last 90 days. 4.48% of the stock is currently owned by insiders.

Hippo Price Performance

Hippo stock opened at $33.30 on Friday. 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 firm has a market cap of $34.63 million, a P/E ratio of 7.16 and a beta of 1.47. The business’s fifty day moving average is $27.83 and its two-hundred day moving average is $27.65. Hippo Holdings Inc. has a 52 week low of $24.08 and a 52 week high of $38.98.

Hippo (NYSE:HIPO) last announced its earnings results on Thursday, July 30th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of ($0.17) by $0.96. Hippo had a return on equity of 10.68% and a net margin of 23.92%.The company had revenue of $144.70 million for the quarter, compared to analysts’ expectations of $137.44 million. Equities research analysts forecast that Hippo Holdings Inc. will post 0.95 earnings per share for the current fiscal year.

About Hippo

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.