Renaissance Technologies LLC Increases Stake in Hippo Holdings Inc. (NYSE:HIPO)

Renaissance Technologies LLC grew its stake in shares of Hippo Holdings Inc. (NYSE:HIPO - Free Report) by 90.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 268,320 shares of the company's stock after buying an additional 127,716 shares during the quarter. Renaissance Technologies LLC owned approximately 1.10% of Hippo worth $7,183,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Invesco Ltd. raised its stake in Hippo by 1.5% during the 4th quarter. Invesco Ltd. now owns 35,866 shares of the company's stock worth $960,000 after buying an additional 539 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Hippo by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 152,664 shares of the company's stock worth $4,087,000 after purchasing an additional 1,424 shares during the period. American Century Companies Inc. lifted its holdings in shares of Hippo by 8.1% in the 4th quarter. American Century Companies Inc. now owns 34,688 shares of the company's stock worth $929,000 after purchasing an additional 2,591 shares in the last quarter. Wells Fargo & Company MN grew its position in Hippo by 29.2% in the 4th quarter. Wells Fargo & Company MN now owns 12,216 shares of the company's stock valued at $327,000 after purchasing an additional 2,759 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Hippo by 6.4% during the 4th 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. 43.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the company. Jefferies Financial Group decreased their price objective on Hippo from $43.00 to $30.00 and set a "buy" rating for the company in a report on Friday, April 11th. Keefe, Bruyette & Woods upped their price target on Hippo from $24.00 to $26.00 and gave the stock a "market perform" rating in a report on Tuesday.

Hippo Price Performance

Shares of NYSE:HIPO traded down $0.34 during trading on Wednesday, hitting $24.19. 76,352 shares of the company were exchanged, compared to its average volume of 164,918. The company has a market cap of $606.66 million, a PE ratio of -4.62 and a beta of 1.49. Hippo Holdings Inc. has a 52-week low of $14.58 and a 52-week high of $35.44. The stock has a 50 day moving average of $26.31 and a 200 day moving average of $26.15.

Hippo (NYSE:HIPO - Get Free Report) last announced its quarterly earnings results on Wednesday, March 5th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.08. Hippo had a negative return on equity of 36.38% and a negative net margin of 37.94%. The firm had revenue of $102.00 million for the quarter, compared to analysts' expectations of $97.83 million. Sell-side analysts forecast that Hippo Holdings Inc. will post -3.63 EPS for the current fiscal year.

Insider Activity

In other Hippo news, CEO Torben Ostergaard sold 21,146 shares of the business's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $30.05, for a total value of $635,437.30. Following the completion of the sale, the chief executive officer now directly owns 74,120 shares of the company's stock, valued at $2,227,306. The trade was a 22.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael Stienstra sold 2,329 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $30.02, for a total value of $69,916.58. Following the transaction, the insider now directly owns 59,648 shares in the company, valued at $1,790,632.96. This trade represents a 3.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,997 shares of company stock worth $1,469,538. 11.37% of the stock is currently owned by corporate insiders.

About Hippo

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.