Connor Clark & Lunn Investment Management Ltd. lifted its stake in Hippo Holdings Inc. (NYSE:HIPO - Free Report) by 48.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 97,982 shares of the company's stock after purchasing an additional 32,058 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.40% of Hippo worth $2,623,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in HIPO. Charles Schwab Investment Management Inc. raised its stake in shares of Hippo by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 152,664 shares of the company's stock worth $4,087,000 after buying an additional 1,424 shares during the last quarter. Caz Investments LP raised its position in Hippo by 100.0% during the third quarter. Caz Investments LP now owns 5,600 shares of the company's stock worth $95,000 after acquiring an additional 2,800 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Hippo by 6.4% in the fourth quarter. Bank of New York Mellon Corp now owns 48,311 shares of the company's stock valued at $1,293,000 after purchasing an additional 2,910 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Hippo by 33.2% in the fourth quarter. SG Americas Securities LLC now owns 13,691 shares of the company's stock valued at $367,000 after purchasing an additional 3,412 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Hippo during the 3rd quarter worth approximately $174,000. Hedge funds and other institutional investors own 43.01% of the company's stock.
Wall Street Analyst Weigh In
Separately, JMP Securities upped their target price on Hippo from $25.00 to $35.00 and gave the company a "market outperform" rating in a research note on Friday, November 22nd.
Get Our Latest Report on Hippo
Hippo Price Performance
NYSE:HIPO traded up $0.14 on Friday, reaching $26.42. The stock had a trading volume of 247,828 shares, compared to its average volume of 160,151. The company has a market cap of $662.74 million, a price-to-earnings ratio of -5.07 and a beta of 1.50. Hippo Holdings Inc. has a 12-month low of $14.58 and a 12-month high of $35.44. The firm's fifty day moving average is $28.10 and its two-hundred day moving average is $25.04.
Hippo (NYSE:HIPO - Get Free Report) last announced its earnings results on Wednesday, March 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.15) by $0.08. The firm had revenue of $102.00 million for the quarter, compared to analyst estimates of $97.83 million. Hippo had a negative net margin of 37.94% and a negative return on equity of 36.38%. As a group, research analysts forecast that Hippo Holdings Inc. will post -3.63 earnings per share for the current fiscal year.
Insider Activity
In other news, Chairman Assaf Wand sold 12,250 shares of the company's stock in a transaction 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 completion of the sale, the chairman now directly owns 486,814 shares in the company, valued at $14,068,924.60. This represents a 2.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Michael Stienstra sold 2,329 shares of Hippo stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $30.02, for a total value of $69,916.58. Following the completion of the transaction, the insider now owns 59,648 shares in the company, valued at $1,790,632.96. The trade was a 3.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,291 shares of company stock valued at $2,207,860 over the last quarter. Company insiders own 11.37% of the company's stock.
About Hippo
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Free Report)
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.
Further Reading
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