Two Sigma Investments LP Invests $259,000 in Hippo Holdings Inc. (NYSE:HIPO)

Two Sigma Investments LP purchased a new position in shares of Hippo Holdings Inc. (NYSE:HIPO) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 9,664 shares of the company’s stock, valued at approximately $259,000.

Several other hedge funds also recently made changes to their positions in HIPO. Renaissance Technologies LLC grew its stake in shares of Hippo by 90.8% during the 4th quarter. Renaissance Technologies LLC now owns 268,320 shares of the company’s stock worth $7,183,000 after acquiring an additional 127,716 shares in the last quarter. Prudential Financial Inc. bought a new position in shares of Hippo in the fourth quarter valued at $3,369,000. Dimensional Fund Advisors LP grew its stake in shares of Hippo by 96.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 228,137 shares of the company’s stock valued at $6,107,000 after buying an additional 112,108 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Hippo by 10.5% in the fourth quarter. Vanguard Group Inc. now owns 1,020,249 shares of the company’s stock valued at $27,312,000 after buying an additional 96,959 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Hippo by 46.3% in the fourth quarter. JPMorgan Chase & Co. now owns 213,784 shares of the company’s stock valued at $5,723,000 after buying an additional 67,608 shares in the last quarter. 43.01% of the stock is owned by institutional investors.

Insider Buying and Selling at Hippo

In other Hippo news, CEO Torben Ostergaard sold 4,889 shares of the firm’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $24.61, for a total transaction of $120,318.29. Following the completion of the sale, the chief executive officer now owns 66,793 shares of the company’s stock, valued at $1,643,775.73. This trade represents a 6.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 11.37% of the company’s stock.

Hippo Trading Down 2.3%

NYSE:HIPO opened at $27.11 on Thursday. Hippo Holdings Inc. has a 1-year low of $14.58 and a 1-year high of $35.44. The firm has a fifty day simple moving average of $23.66 and a 200 day simple moving average of $26.46. The stock has a market capitalization of $681.88 million, a PE ratio of -5.20 and a beta of 1.48.

Hippo (NYSE:HIPO) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($1.91) earnings per share (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 business had revenue of $110.30 million for the quarter, compared to analyst estimates of $106.70 million. On average, equities analysts predict that Hippo Holdings Inc. will post -3.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

HIPO has been the subject of several analyst reports. Jefferies Financial Group decreased their target price on shares of Hippo from $43.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Keefe, Bruyette & Woods raised their target price on shares of Hippo from $24.00 to $26.00 and gave the company a “market perform” rating in a research note on Tuesday, April 22nd.

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.