Jacobs Levy Equity Management Inc. Acquires 17,286 Shares of Hippo Holdings Inc. (NYSE:HIPO)

Jacobs Levy Equity Management Inc. grew its holdings in shares of Hippo Holdings Inc. (NYSE:HIPO) by 33.8% in the fourth quarter, HoldingsChannel reports. The fund owned 68,485 shares of the company’s stock after purchasing an additional 17,286 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Hippo were worth $1,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. BNP Paribas Financial Markets bought a new stake in shares of Hippo during the 4th quarter valued at $118,000. The Manufacturers Life Insurance Company bought a new stake in shares of Hippo during the 4th quarter valued at $200,000. 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. Finally, Wells Fargo & Company MN grew 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. Institutional investors own 43.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HIPO. Jefferies Financial Group cut their price objective on shares of 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 target price on shares of Hippo from $24.00 to $26.00 and gave the stock a “market perform” rating in a report on Tuesday, April 22nd.

Insider Activity

In other news, insider Michael Stienstra sold 2,329 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $30.02, for a total transaction of $69,916.58. Following the transaction, the insider now directly owns 59,648 shares of the company’s stock, valued at approximately $1,790,632.96. This trade represents a 3.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Assaf Wand sold 12,250 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $28.90, for a total transaction of $354,025.00. Following the transaction, the chairman now directly owns 486,814 shares in the company, 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. Corporate insiders own 11.37% of the company’s stock.

Hippo Stock Performance

Shares of Hippo stock opened at $22.32 on Friday. The company has a market capitalization of $559.83 million, a P/E ratio of -4.28 and a beta of 1.49. The company has a fifty day moving average of $24.42 and a 200 day moving average of $26.67. Hippo Holdings Inc. has a fifty-two week low of $14.58 and a fifty-two week high of $35.44.

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

Hippo Company 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.