Sei Investments Co. Acquires 32,728 Shares of Hippo Holdings Inc. $HIPO

Sei Investments Co. increased its stake in shares of Hippo Holdings Inc. (NYSE:HIPO) by 25.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 161,440 shares of the company’s stock after buying an additional 32,728 shares during the period. Sei Investments Co. owned 15.52% of Hippo worth $4,207,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Tudor Investment Corp ET AL acquired a new stake in Hippo in the 3rd quarter valued at about $963,000. Hsbc Holdings PLC acquired a new position in shares of Hippo during the fourth quarter worth approximately $620,000. R Squared Ltd bought a new stake in shares of Hippo during the first quarter valued at approximately $253,000. SG Americas Securities LLC grew its stake in shares of Hippo by 11.7% during the fourth quarter. SG Americas Securities LLC now owns 10,135 shares of the company’s stock valued at $305,000 after purchasing an additional 1,058 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Hippo in the fourth quarter valued at approximately $26,000. Institutional investors own 43.01% of the company’s stock.

Analysts Set New Price Targets

HIPO has been the subject of several research analyst reports. Texas Capital upgraded shares of Hippo to a “strong-buy” rating in a research report on Tuesday, June 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Hippo in a research report on Friday, July 31st. Keefe, Bruyette & Woods lifted their target price on Hippo from $32.00 to $33.00 and gave the company a “market perform” rating in a research note on Wednesday, July 8th. Finally, B. Riley Financial restated a “buy” rating and set a $41.50 target price (up from $38.00) on shares of Hippo in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Hippo presently has an average rating of “Moderate Buy” and a consensus target price of $39.83.

Insider Buying and Selling at Hippo

In related news, CFO Guy Zeltser sold 1,669 shares of Hippo stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $30.98, for a total transaction of $51,705.62. Following the completion of the sale, the chief financial officer directly owned 120,563 shares of the company’s stock, valued at $3,735,041.74. The trade was a 1.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Torben Ostergaard sold 3,667 shares of Hippo stock in a transaction on Friday, May 15th. The stock was sold at an average price of $26.10, for a total value of $95,708.70. Following the sale, the chief executive officer directly owned 65,673 shares of the company’s stock, valued at approximately $1,714,065.30. This trade represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 20,336 shares of company stock worth $550,564. Insiders own 4.48% of the company’s stock.

Hippo Stock Down 1.8%

Shares of NYSE:HIPO opened at $32.35 on Thursday. Hippo Holdings Inc. has a one year low of $24.08 and a one year high of $38.98. The company has a 50 day moving average of $27.68 and a 200-day moving average of $27.63. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market cap of $842.37 million, a price-to-earnings ratio of 6.96 and a beta of 1.47.

Hippo (NYSE:HIPO) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.96. Hippo had a net margin of 23.92% and a return on equity of 10.68%. The business had revenue of $144.70 million for the quarter, compared to analyst estimates of $137.44 million. On average, sell-side analysts forecast that Hippo Holdings Inc. will post 0.95 earnings per share for the current year.

Hippo Profile

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.