Hippo (NYSE:HIPO) Posts Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Hippo (NYSE:HIPO) issued its quarterly earnings results on Wednesday. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.08, Zacks reports. The business 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%.

Hippo Stock Down 2.9 %

Shares of NYSE HIPO traded down $0.89 during midday trading on Friday, hitting $29.39. The company had a trading volume of 117,644 shares, compared to its average volume of 166,859. The business has a 50-day simple moving average of $27.93 and a two-hundred day simple moving average of $24.49. Hippo has a twelve month low of $14.58 and a twelve month high of $35.44. The firm has a market capitalization of $715.96 million, a price-to-earnings ratio of -5.63 and a beta of 1.50.

Insider Buying and Selling at Hippo

In other Hippo news, 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 transaction of $77,876.94. Following the sale, the chief executive officer now owns 98,288 shares in the company, valued at approximately $2,532,881.76. This represents a 2.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Assaf Wand sold 12,250 shares of Hippo stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $28.90, for a total value of $354,025.00. Following the sale, the chairman now owns 486,814 shares of the company’s stock, valued at approximately $14,068,924.60. This represents a 2.45 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 93,383 shares of company stock valued at $2,574,135. Corporate insiders own 11.37% of the company’s stock.

Analyst Ratings Changes

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