Bond Capital Management LP Sells 146,093 Shares of Hippo Holdings Inc. $HIPO

Bond Capital Management LP lessened its stake in shares of Hippo Holdings Inc. (NYSE:HIPO) by 12.2% during the second quarter, Holdings Channel.com reports. The fund owned 1,054,035 shares of the company’s stock after selling 146,093 shares during the period. Hippo accounts for about 9.8% of Bond Capital Management LP’s holdings, making the stock its 3rd biggest holding. Bond Capital Management LP’s holdings in Hippo were worth $29,787,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sei Investments Co. boosted its stake in Hippo by 25.4% during the 1st quarter. Sei Investments Co. now owns 161,440 shares of the company’s stock valued at $4,207,000 after purchasing an additional 32,728 shares in the last quarter. AWM Investment Company Inc. bought a new stake in shares of Hippo in the 2nd quarter worth $2,826,000. Hsbc Holdings PLC bought a new stake in shares of Hippo in the 4th quarter worth $620,000. BlackRock Inc. lifted its holdings in shares of Hippo by 17.8% in the second quarter. BlackRock Inc. now owns 1,498,306 shares of the company’s stock valued at $42,342,000 after buying an additional 226,533 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Hippo by 151.8% in the second quarter. Russell Investments Group Ltd. now owns 38,830 shares of the company’s stock valued at $1,097,000 after buying an additional 23,408 shares during the period. Institutional investors own 43.01% of the company’s stock.

Hippo Price Performance

Shares of NYSE:HIPO opened at $33.79 on Friday. The company has a market capitalization of $891.72 million, a PE ratio of 7.27 and a beta of 1.55. 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 fifty day moving average of $31.00 and a 200-day moving average of $28.15. Hippo Holdings Inc. has a one year low of $24.08 and a one year high of $38.98.

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

Analyst Upgrades and Downgrades

HIPO has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hippo in a report on Friday, July 31st. Keefe, Bruyette & Woods upped their price target on shares of Hippo from $33.00 to $35.00 and gave the company a “market perform” rating in a report on Thursday, August 6th. Texas Capital upgraded shares of Hippo to a “strong-buy” rating in a research report on Tuesday, June 9th. Zacks Research raised shares of Hippo from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Finally, B. Riley Financial reaffirmed a “buy” rating and issued a $41.50 price objective (up from $38.00) on shares of Hippo in a research note on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $40.50.

Insider Buying and Selling

In related news, CEO Torben Ostergaard sold 1,169 shares of Hippo stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $33.00, for a total value of $38,577.00. Following the transaction, the chief executive officer owned 61,824 shares of the company’s stock, valued at approximately $2,040,192. This trade represents a 1.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Richard McCathron sold 5,000 shares of the business’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $28.53, for a total value of $142,650.00. Following the sale, the chief executive officer owned 585,433 shares in the company, valued at approximately $16,702,403.49. The trade was a 0.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 17,838 shares of company stock valued at $517,933. 4.48% of the stock is owned by corporate insiders.

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.