The Manufacturers Life Insurance Company Acquires Shares of 7,485 Hippo Holdings Inc. (NYSE:HIPO)

The Manufacturers Life Insurance Company acquired a new stake in Hippo Holdings Inc. (NYSE:HIPO) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 7,485 shares of the company’s stock, valued at approximately $200,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HIPO. EntryPoint Capital LLC bought a new stake in shares of Hippo during the 4th quarter valued at $204,000. Jump Financial LLC bought a new stake in shares of Hippo during the 4th quarter valued at $311,000. Wells Fargo & Company MN lifted its position in shares of Hippo by 29.2% during the 4th quarter. Wells Fargo & Company MN now owns 12,216 shares of the company’s stock valued at $327,000 after acquiring an additional 2,759 shares during the period. MetLife Investment Management LLC lifted its position in shares of Hippo by 13.3% during the 4th quarter. MetLife Investment Management LLC now owns 13,394 shares of the company’s stock valued at $359,000 after acquiring an additional 1,573 shares during the period. Finally, SG Americas Securities LLC lifted its position in shares of Hippo by 33.2% during the 4th quarter. SG Americas Securities LLC now owns 13,691 shares of the company’s stock valued at $367,000 after acquiring an additional 3,412 shares during the period. 43.01% of the stock is owned by institutional investors and hedge funds.

Hippo Price Performance

NYSE HIPO opened at $22.65 on Monday. The business has a 50 day simple moving average of $24.32 and a 200 day simple moving average of $26.79. Hippo Holdings Inc. has a one year low of $14.58 and a one year high of $35.44. The stock has a market capitalization of $568.01 million, a P/E ratio of -4.35 and a beta of 1.49.

Hippo (NYSE:HIPO) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($1.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.41) by ($0.50). The firm had revenue of $110.30 million during the quarter, compared to the consensus estimate of $106.70 million. Hippo had a negative return on equity of 36.38% and a negative net margin of 37.94%. Equities analysts expect that Hippo Holdings Inc. will post -3.63 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Michael Stienstra sold 2,329 shares of Hippo stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $30.02, for a total value of $69,916.58. Following the completion of the transaction, the insider now directly owns 59,648 shares in the company, valued at approximately $1,790,632.96. The trade was a 3.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Assaf Wand sold 12,250 shares of Hippo stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $28.90, for a total value of $354,025.00. Following the completion of the transaction, the chairman now owns 486,814 shares of the company’s stock, valued at approximately $14,068,924.60. This trade represents a 2.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.37% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Jefferies Financial Group dropped their price objective on Hippo from $43.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Keefe, Bruyette & Woods upped their price objective on Hippo from $24.00 to $26.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 22nd.

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.