Hsbc Holdings PLC Makes New $620,000 Investment in Hippo Holdings Inc. $HIPO

Hsbc Holdings PLC acquired a new position in shares of Hippo Holdings Inc. (NYSE:HIPO) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 20,363 shares of the company’s stock, valued at approximately $620,000. Hsbc Holdings PLC owned approximately 0.08% of Hippo as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in HIPO. AQR Capital Management LLC increased its holdings in Hippo by 8.3% during the first quarter. AQR Capital Management LLC now owns 16,193 shares of the company’s stock worth $414,000 after buying an additional 1,236 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Hippo by 30.5% in the second quarter. JPMorgan Chase & Co. now owns 208,472 shares of the company’s stock valued at $5,823,000 after acquiring an additional 48,677 shares during the last quarter. American Century Companies Inc. lifted its stake in Hippo by 6.3% in the second quarter. American Century Companies Inc. now owns 43,417 shares of the company’s stock valued at $1,213,000 after acquiring an additional 2,588 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Hippo in the 2nd quarter valued at about $33,000. Finally, Walleye Capital LLC bought a new position in shares of Hippo in the 2nd quarter valued at about $358,000. 43.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on HIPO shares. Weiss Ratings raised shares of Hippo from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 4th. B. Riley Financial started coverage on Hippo in a report on Friday, April 17th. They set a “buy” rating and a $38.00 price target for the company. Keefe, Bruyette & Woods boosted their price target on Hippo from $32.00 to $33.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 8th. Finally, Texas Capital upgraded Hippo to a “strong-buy” rating in a research note on Tuesday, June 9th. One research 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. Based on data from MarketBeat.com, Hippo has a consensus rating of “Moderate Buy” and a consensus target price of $38.67.

Insider Activity

In other news, CEO Richard Mccathron sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $27.10, for a total transaction of $135,500.00. Following the completion of the sale, the chief executive officer owned 604,212 shares in the company, valued at $16,374,145.20. The trade was a 0.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Torben Ostergaard sold 3,667 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $26.10, for a total value of $95,708.70. Following the completion of the transaction, the chief executive officer directly owned 65,673 shares in the company, valued at $1,714,065.30. The trade was a 5.29% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 18,667 shares of company stock worth $498,859. Insiders own 4.48% of the company’s stock.

Hippo Price Performance

NYSE:HIPO opened at $28.52 on Thursday. The company has a market cap of $742.55 million, a P/E ratio of 6.60 and a beta of 1.49. The firm’s fifty day moving average price is $26.61 and its two-hundred day moving average price is $27.71. Hippo Holdings Inc. has a one year low of $24.08 and a one year high of $38.98. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.99 and a quick ratio of 0.99.

Hippo (NYSE:HIPO) last posted its earnings results on Wednesday, March 4th. The company reported $0.67 earnings per share (EPS) for the quarter. The company had revenue of $120.40 million during the quarter. Hippo had a net margin of 23.45% and a return on equity of 12.17%. Equities analysts expect 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.