Connor Clark & Lunn Investment Management Ltd. Acquires 32,058 Shares of Hippo Holdings Inc. (NYSE:HIPO)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Hippo Holdings Inc. (NYSE:HIPO) by 48.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 97,982 shares of the company’s stock after acquiring an additional 32,058 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Hippo were worth $2,623,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Caz Investments LP raised its position in Hippo by 100.0% during the 3rd quarter. Caz Investments LP now owns 5,600 shares of the company’s stock worth $95,000 after purchasing an additional 2,800 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Hippo during the third quarter worth about $174,000. SG Americas Securities LLC lifted its stake in shares of Hippo by 33.2% in the fourth quarter. SG Americas Securities LLC now owns 13,691 shares of the company’s stock worth $367,000 after acquiring an additional 3,412 shares during the period. Barclays PLC boosted its holdings in Hippo by 276.5% in the third quarter. Barclays PLC now owns 25,816 shares of the company’s stock valued at $435,000 after acquiring an additional 18,960 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Hippo during the 3rd quarter valued at approximately $864,000. Institutional investors and hedge funds own 43.01% of the company’s stock.

Hippo Price Performance

Shares of NYSE:HIPO opened at $27.81 on Tuesday. The business’s 50-day moving average is $28.08 and its 200-day moving average is $24.98. Hippo Holdings Inc. has a 1 year low of $14.58 and a 1 year high of $35.44. The company has a market capitalization of $697.41 million, a price-to-earnings ratio of -5.34 and a beta of 1.50.

Hippo (NYSE:HIPO) last announced its quarterly earnings data on Wednesday, March 5th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.08. Hippo had a negative net margin of 37.94% and a negative return on equity of 36.38%. The company had revenue of $102.00 million during the quarter, compared to the consensus estimate of $97.83 million. Analysts anticipate that Hippo Holdings Inc. will post -3.63 EPS for the current year.

Insiders Place Their Bets

In other Hippo news, insider Michael Stienstra sold 2,329 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $30.02, for a total value of $69,916.58. Following the completion of the sale, the insider now owns 59,648 shares of the company’s stock, valued at approximately $1,790,632.96. This trade represents a 3.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Torben Ostergaard sold 3,022 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $25.91, for a total value of $78,300.02. Following the transaction, the chief executive officer now directly owns 101,310 shares in the company, valued at $2,624,942.10. The trade was a 2.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 91,291 shares of company stock worth $2,518,780. 11.37% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, JMP Securities boosted their price target 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.

Hippo 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.