Geode Capital Management LLC Lowers Stake in Hippo Holdings Inc. $HIPO

Geode Capital Management LLC cut its stake in Hippo Holdings Inc. (NYSE:HIPO) by 5.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 426,135 shares of the company’s stock after selling 22,842 shares during the period. Geode Capital Management LLC owned about 1.69% of Hippo worth $11,904,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Hippo by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 1,044,502 shares of the company’s stock valued at $26,697,000 after purchasing an additional 24,253 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Hippo by 1.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 154,130 shares of the company’s stock worth $3,940,000 after buying an additional 1,466 shares in the last quarter. Invesco Ltd. grew its position in Hippo by 256.4% during the first quarter. Invesco Ltd. now owns 127,835 shares of the company’s stock valued at $3,267,000 after acquiring an additional 91,969 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Hippo by 5.6% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 103,451 shares of the company’s stock worth $2,644,000 after acquiring an additional 5,469 shares in the last quarter. Finally, Philadelphia Financial Management of San Francisco LLC bought a new stake in shares of Hippo in the 1st quarter worth approximately $2,636,000. Hedge funds and other institutional investors own 43.01% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on HIPO. Wall Street Zen lowered shares of Hippo from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. JMP Securities set a $45.00 price target on shares of Hippo and gave the company a “market outperform” rating in a research report on Tuesday, October 14th. Citigroup reiterated an “outperform” rating on shares of Hippo in a report on Tuesday, October 14th. Zacks Research raised Hippo from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 14th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Hippo in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Hippo has a consensus rating of “Moderate Buy” and a consensus price target of $35.50.

Insiders Place Their Bets

In other Hippo news, CFO Guy Zeltser sold 1,819 shares of the stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $32.16, for a total transaction of $58,499.04. Following the completion of the transaction, the chief financial officer owned 68,860 shares in the company, valued at $2,214,537.60. This trade represents a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard Mccathron sold 2,725 shares of Hippo stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $34.12, for a total value of $92,977.00. Following the completion of the transaction, the chief executive officer owned 470,388 shares of the company’s stock, valued at approximately $16,049,638.56. This represents a 0.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 9,721 shares of company stock valued at $345,510. Corporate insiders own 10.80% of the company’s stock.

Hippo Trading Down 1.2%

Hippo stock opened at $30.93 on Wednesday. Hippo Holdings Inc. has a 12 month low of $19.92 and a 12 month high of $38.98. The business’s fifty day simple moving average is $34.65 and its two-hundred day simple moving average is $31.09. The company has a market capitalization of $783.46 million, a price-to-earnings ratio of 8.54 and a beta of 1.57. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.11.

Hippo (NYSE:HIPO) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.66. The firm had revenue of $120.60 million for the quarter, compared to the consensus estimate of $117.75 million. Hippo had a negative return on equity of 5.89% and a net margin of 21.30%. As a group, equities analysts predict that Hippo Holdings Inc. will post -3.63 earnings per share for the current fiscal year.

About Hippo

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.