Hsbc Holdings PLC Takes Position in Hippo Holdings Inc. $HIPO

Hsbc Holdings PLC bought a new stake in Hippo Holdings Inc. (NYSE:HIPO) in the fourth quarter, HoldingsChannel.com reports. The firm bought 20,363 shares of the company’s stock, valued at approximately $620,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Tudor Investment Corp ET AL bought a new stake in Hippo in the 3rd quarter valued at about $963,000. Tower Research Capital LLC TRC grew its position in shares of Hippo by 418.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,402 shares of the company’s stock worth $179,000 after purchasing an additional 5,166 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of Hippo by 109.4% during the fourth quarter. Royal Bank of Canada now owns 3,174 shares of the company’s stock worth $95,000 after purchasing an additional 1,658 shares during the period. Kemnay Advisory Services Inc. bought a new position in shares of Hippo during the fourth quarter worth approximately $56,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Hippo in the second quarter valued at approximately $33,000. 43.01% of the stock is currently owned by institutional investors and hedge funds.

Hippo Price Performance

HIPO stock opened at $28.52 on Thursday. The company’s 50-day moving average price is $26.61 and its two-hundred day moving average price is $27.71. The firm has a market cap of $742.55 million, a P/E ratio of 6.60 and a beta of 1.49. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.11. Hippo Holdings Inc. has a 12 month low of $24.08 and a 12 month high of $38.98.

Hippo (NYSE:HIPO) last issued its quarterly earnings results on Wednesday, March 4th. The company reported $0.67 earnings per share for the quarter. Hippo had a net margin of 23.45% and a return on equity of 12.17%. The company had revenue of $120.40 million during the quarter. On average, analysts anticipate that Hippo Holdings Inc. will post 0.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Hippo news, CEO Torben Ostergaard sold 3,667 shares of the business’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 completion of the transaction, the chief executive officer directly owned 65,673 shares in the company, valued at $1,714,065.30. The trade was 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 available at this link. Also, CEO Richard Mccathron sold 5,000 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $27.10, for a total value of $135,500.00. Following the sale, the chief executive officer owned 604,212 shares of the company’s stock, valued at $16,374,145.20. The trade was a 0.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 18,667 shares of company stock worth $498,859 over the last three months. 4.48% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HIPO. B. Riley Financial initiated coverage on Hippo in a research note on Friday, April 17th. They issued a “buy” rating and a $38.00 price target for the company. Keefe, Bruyette & Woods raised their price objective on Hippo from $32.00 to $33.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 8th. Texas Capital raised Hippo to a “strong-buy” rating in a report on Tuesday, June 9th. Finally, Weiss Ratings upgraded Hippo from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $38.67.

Hippo Profile

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.