Hippo (NYSE:HIPO) Announces Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Hippo (NYSE:HIPO - Get Free Report) issued its earnings results on Wednesday. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.08, Zacks reports. The company had revenue of $102.00 million during the quarter, compared to the consensus estimate of $97.83 million. Hippo had a negative net margin of 37.94% and a negative return on equity of 36.38%.

Hippo Stock Up 2.8 %

NYSE HIPO traded up $0.74 during trading hours on Tuesday, hitting $27.64. 228,265 shares of the company were exchanged, compared to its average volume of 178,543. Hippo has a 52 week low of $14.58 and a 52 week high of $35.44. The stock has a 50-day moving average price of $28.00 and a 200 day moving average price of $24.71. The stock has a market cap of $673.31 million, a PE ratio of -5.31 and a beta of 1.50.

Wall Street Analysts Forecast Growth

Separately, JMP Securities upped their target price on shares of Hippo from $25.00 to $35.00 and gave the stock a "market outperform" rating in a research report on Friday, November 22nd.

Insider Transactions at Hippo

In other Hippo 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 value of $354,025.00. Following the transaction, the chairman now owns 486,814 shares of the company's stock, valued at $14,068,924.60. This represents a 2.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Torben Ostergaard sold 3,022 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $25.77, for a total value of $77,876.94. Following the completion of the sale, the chief executive officer now owns 98,288 shares in the company, valued at approximately $2,532,881.76. The trade was a 2.98 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,383 shares of company stock worth $2,574,135. 11.37% of the stock is currently owned by company insiders.

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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.