SG Americas Securities LLC lessened its position in Hippo Holdings Inc. (NYSE:HIPO – Free Report) by 10.2% in the first quarter, HoldingsChannel.com reports. The fund owned 12,295 shares of the company’s stock after selling 1,396 shares during the period. SG Americas Securities LLC’s holdings in Hippo were worth $314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp increased its holdings in shares of Hippo by 6.4% during the 4th quarter. Bank of New York Mellon Corp now owns 48,311 shares of the company’s stock worth $1,293,000 after acquiring an additional 2,910 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Hippo by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 152,664 shares of the company’s stock valued at $4,087,000 after purchasing an additional 1,424 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Hippo by 48.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 97,982 shares of the company’s stock valued at $2,623,000 after purchasing an additional 32,058 shares during the period. American Century Companies Inc. raised its position in shares of Hippo by 8.1% in the fourth quarter. American Century Companies Inc. now owns 34,688 shares of the company’s stock valued at $929,000 after purchasing an additional 2,591 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Hippo by 10.5% during the 4th quarter. Vanguard Group Inc. now owns 1,020,249 shares of the company’s stock worth $27,312,000 after buying an additional 96,959 shares during the last quarter. 43.01% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts recently commented on the stock. Jefferies Financial Group decreased their price target on shares of Hippo from $43.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Keefe, Bruyette & Woods upped their target price on Hippo from $24.00 to $26.00 and gave the company a “market perform” rating in a research report on Tuesday, April 22nd.
Hippo Stock Performance
HIPO opened at $27.88 on Friday. The stock has a fifty day moving average of $24.83 and a 200-day moving average of $26.21. The company has a market capitalization of $701.49 million, a P/E ratio of -12.79 and a beta of 1.48. Hippo Holdings Inc. has a fifty-two week low of $14.58 and a fifty-two week high of $35.44.
Hippo (NYSE:HIPO – Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($1.91) EPS for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.50). The business had revenue of $110.30 million for the quarter, compared to the consensus estimate of $106.70 million. Hippo had a negative return on equity of 29.27% and a negative net margin of 13.21%. On average, equities research analysts predict that Hippo Holdings Inc. will post -3.63 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, CEO Torben Ostergaard sold 4,889 shares of the business’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $24.61, for a total value of $120,318.29. Following the completion of the sale, the chief executive officer now directly owns 66,793 shares in the company, valued at approximately $1,643,775.73. The trade was a 6.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 10.80% of the company’s stock.
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.
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