Principal Financial Group Inc. Has $2.56 Million Stock Holdings in Hippo Holdings Inc. $HIPO

Principal Financial Group Inc. grew its position in Hippo Holdings Inc. (NYSE:HIPO) by 149.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 70,791 shares of the company’s stock after buying an additional 42,427 shares during the period. Principal Financial Group Inc.’s holdings in Hippo were worth $2,560,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hood River Capital Management LLC acquired a new stake in Hippo in the second quarter worth about $13,665,000. Westerly Capital Management LLC lifted its position in Hippo by 30.4% during the 2nd quarter. Westerly Capital Management LLC now owns 326,000 shares of the company’s stock valued at $9,105,000 after purchasing an additional 76,000 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Hippo by 30.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 208,472 shares of the company’s stock valued at $5,823,000 after purchasing an additional 48,677 shares during the last quarter. Bank of America Corp DE grew its position in shares of Hippo by 4.7% during the 2nd quarter. Bank of America Corp DE now owns 141,344 shares of the company’s stock worth $3,948,000 after buying an additional 6,369 shares during the period. Finally, Sei Investments Co. bought a new stake in shares of Hippo during the second quarter worth approximately $2,810,000. Institutional investors own 43.01% of the company’s stock.

Hippo Trading Up 2.3%

HIPO opened at $28.30 on Tuesday. The firm’s fifty day moving average is $30.35 and its two-hundred day moving average is $32.60. The firm has a market cap of $716.71 million, a PE ratio of 7.82 and a beta of 1.57. Hippo Holdings Inc. has a twelve month low of $19.92 and a twelve month high of $38.98. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.94 and a current ratio of 0.94.

Insider Activity

In other news, CEO Richard Mccathron sold 5,000 shares of the stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $29.82, for a total transaction of $149,100.00. Following the completion of the sale, the chief executive officer owned 452,704 shares of the company’s stock, valued at $13,499,633.28. This represents a 1.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Stienstra sold 3,900 shares of Hippo stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $31.12, for a total value of $121,368.00. Following the completion of the sale, the insider directly owned 71,281 shares in the company, valued at $2,218,264.72. This represents a 5.19% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 18,900 shares of company stock worth $573,768. Corporate insiders own 10.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on HIPO. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hippo in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods raised their price target on Hippo from $33.00 to $34.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 10th. Finally, Zacks Research raised Hippo from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.50.

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.