Hippo (NYSE:HIPO) Issues Earnings Results

Hippo (NYSE:HIPO) issued its quarterly earnings data 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. Hippo had a negative net margin of 37.94% and a negative return on equity of 36.38%.

Hippo Trading Down 1.4 %

HIPO opened at $29.86 on Friday. Hippo has a 1-year low of $14.58 and a 1-year high of $35.44. The stock has a market capitalization of $727.46 million, a PE ratio of -5.81 and a beta of 1.50. The firm has a 50-day moving average price of $27.93 and a two-hundred day moving average price of $24.49.

Insider Transactions at Hippo

In other Hippo news, CEO Torben Ostergaard sold 3,022 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $25.77, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Stewart Ellis sold 12,000 shares of Hippo stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $25.91, for a total transaction of $310,920.00. Following the transaction, the chief financial officer now directly owns 328,215 shares in the company, valued at $8,504,050.65. The trade was a 3.53 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 93,383 shares of company stock worth $2,574,135. Corporate insiders own 11.37% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.