Russell Investments Group Ltd. Purchases 23,408 Shares of Hippo Holdings Inc. $HIPO

Russell Investments Group Ltd. lifted its holdings in Hippo Holdings Inc. (NYSE:HIPO) by 151.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,830 shares of the company’s stock after acquiring an additional 23,408 shares during the quarter. Russell Investments Group Ltd.’s holdings in Hippo were worth $1,097,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Intech Investment Management LLC increased its holdings in Hippo by 4.0% during the 3rd quarter. Intech Investment Management LLC now owns 7,968 shares of the company’s stock valued at $288,000 after purchasing an additional 310 shares in the last quarter. Altshuler Shaham Ltd grew its holdings in shares of Hippo by 270.4% during the fourth quarter. Altshuler Shaham Ltd now owns 1,000 shares of the company’s stock worth $30,000 after purchasing an additional 730 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of Hippo by 1.2% during the fourth quarter. Deutsche Bank AG now owns 60,005 shares of the company’s stock worth $1,805,000 after purchasing an additional 736 shares during the last quarter. Balyasny Asset Management L.P. increased its stake in shares of Hippo by 5.2% in the fourth quarter. Balyasny Asset Management L.P. now owns 16,420 shares of the company’s stock valued at $494,000 after buying an additional 812 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Hippo by 3.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 24,588 shares of the company’s stock valued at $740,000 after buying an additional 834 shares in the last quarter. 43.01% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Guy Zeltser sold 1,669 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $30.98, for a total value of $51,705.62. Following the transaction, the chief financial officer owned 120,563 shares of the company’s stock, valued at approximately $3,735,041.74. This trade represents a 1.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard Mccathron sold 5,000 shares of Hippo stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $32.00, for a total transaction of $160,000.00. Following the sale, the chief executive officer owned 580,433 shares of the company’s stock, valued at approximately $18,573,856. This represents a 0.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 16,669 shares of company stock valued at $479,356 over the last three months. Company insiders own 4.48% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on HIPO. Texas Capital raised Hippo to a “strong-buy” rating in a report on Tuesday, June 9th. Keefe, Bruyette & Woods raised their price objective on shares of 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 issued a $41.50 target price (up from $38.00) on shares of Hippo in a research note on Monday, August 3rd. Zacks Research raised shares of Hippo from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Hippo in a research report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $40.50.

Hippo Trading Up 0.3%

HIPO stock opened at $33.04 on Friday. The company has a market cap of $871.85 million, a P/E ratio of 7.10 and a beta of 1.47. Hippo Holdings Inc. has a twelve month low of $24.08 and a twelve month high of $38.98. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.10. The business has a fifty day moving average of $28.77 and a 200-day moving average of $27.76.

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