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

Principal Financial Group Inc. increased its position in shares of Hippo Holdings Inc. (NYSE:HIPO) by 149.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 70,791 shares of the company’s stock after buying an additional 42,427 shares during the quarter. Principal Financial Group Inc. owned 0.28% of Hippo worth $2,560,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its position in shares of Hippo by 8.3% in the 1st quarter. AQR Capital Management LLC now owns 16,193 shares of the company’s stock worth $414,000 after acquiring an additional 1,236 shares during the period. Police & Firemen s Retirement System of New Jersey lifted its position in Hippo by 12.2% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 4,481 shares of the company’s stock worth $125,000 after purchasing an additional 489 shares during the period. Entropy Technologies LP acquired a new stake in Hippo during the second quarter worth $237,000. JPMorgan Chase & Co. increased its holdings in 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 buying an additional 48,677 shares during the period. Finally, American Century Companies Inc. increased its holdings in Hippo by 6.3% in the 2nd quarter. American Century Companies Inc. now owns 43,417 shares of the company’s stock valued at $1,213,000 after buying an additional 2,588 shares during the period. 43.01% of the stock is currently owned by institutional investors.

Hippo Price Performance

Shares of Hippo stock opened at $28.30 on Tuesday. The stock has a market capitalization of $716.71 million, a price-to-earnings ratio of 7.82 and a beta of 1.57. The firm’s 50-day moving average price is $30.35 and its two-hundred day moving average price is $32.60. 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 Holdings Inc. has a 1-year low of $19.92 and a 1-year high of $38.98.

Insider Buying and Selling

In other news, CEO Richard Mccathron sold 5,000 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $29.14, for a total transaction of $145,700.00. Following the sale, the chief executive officer owned 442,704 shares in the company, valued at approximately $12,900,394.56. This represents a 1.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction, the insider directly owned 71,281 shares of the company’s stock, valued at $2,218,264.72. This represents a 5.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 18,900 shares of company stock worth $573,768. 10.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Hippo in a research report on Thursday, January 22nd. Keefe, Bruyette & Woods lifted their price objective on Hippo from $33.00 to $34.00 and gave the company a “market perform” rating in a report on Wednesday, December 10th. Finally, Zacks Research raised Hippo from a “hold” rating to a “strong-buy” rating in a report on Friday, November 14th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.