Hippo (HIPO)


Market Price (8/20/2026): $32.95 | Market Cap: $863.4 MilSector: Financials | Industry: Property & Casualty Insurance

Hippo (HIPO)


Market Price (8/20/2026): $32.95
Market Cap: $863.4 Mil
Sector: Financials
Industry: Property & Casualty Insurance

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 14%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 9.8%, FCF Yield is 6.8%

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -46%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 11%

Low stock price volatility
Vol 12M is 38%

Megatrend and thematic drivers
Megatrends include Smart Buildings & Proptech. Themes include IoT for Buildings, and Real Estate Data Analytics.

Key risks
HIPO key risks include [1] its significant exposure to catastrophic events which have driven substantial losses and [2] its precarious financial stability, Show more.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 14%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 9.8%, FCF Yield is 6.8%
1 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -46%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 11%
3 Low stock price volatility
Vol 12M is 38%
4 Megatrend and thematic drivers
Megatrends include Smart Buildings & Proptech. Themes include IoT for Buildings, and Real Estate Data Analytics.
5 Key risks
HIPO key risks include [1] its significant exposure to catastrophic events which have driven substantial losses and [2] its precarious financial stability, Show more.

HIPO in ETFs

Weight = HIPO's share of each fund

VTI0.00%
ITOT0.00%
IWM0.02%
IWN0.04%
VTWO0.02%
DFAS0.02%
SCHA0.01%
AVUV0.00%
+3 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 8/4/2026

Hippo (HIPO) stock has gained about 25% since 4/30/2026 because of the following key factors:

1. Strong Fiscal Q1 2026 Earnings Performance Exceeded Expectations.

Hippo reported its fiscal Q1 2026 results on April 30, 2026, revealing a net income of $7 million, or $0.27 per diluted share, significantly surpassing analyst consensus estimates of $0.1811 per share by 49.09%. The company also achieved a 58% increase in Gross Written Premium to $332 million compared to fiscal Q1 2025. This performance marked a positive shift to profitability from a net loss in the prior year and demonstrated a 60-percentage-point improvement in the combined ratio to 99.5%.

2. Robust Fiscal Q2 2026 Results and Upgraded Full-Year Guidance.

On July 30, 2026, Hippo announced strong fiscal Q2 2026 earnings, reporting net income of $10 million, or $0.38 per diluted share, substantially beating the consensus EPS forecast of -$0.17 per share. Revenue for the quarter reached $144.7 million, exceeding expectations of $137.44 million. Following these results, Hippo raised its full-year 2026 guidance, increasing Gross Written Premium (GWP) to a range of $1.65 billion-$1.7 billion (up from $1.45 billion-$1.525 billion) and adjusted net income guidance to $62 million-$70 million (up from $48 million-$56 million). The company also lowered its net combined ratio guidance to 99%-101% from 103%-105%, indicating improved operational efficiency.

Show more
Updated on 8/4/2026

Hippo (HIPO) stock has gained about 25% since 4/30/2026 because of the following key factors:

1. Strong Fiscal Q1 2026 Earnings Performance Exceeded Expectations.

Hippo reported its fiscal Q1 2026 results on April 30, 2026, revealing a net income of $7 million, or $0.27 per diluted share, significantly surpassing analyst consensus estimates of $0.1811 per share by 49.09%. The company also achieved a 58% increase in Gross Written Premium to $332 million compared to fiscal Q1 2025. This performance marked a positive shift to profitability from a net loss in the prior year and demonstrated a 60-percentage-point improvement in the combined ratio to 99.5%.

2. Robust Fiscal Q2 2026 Results and Upgraded Full-Year Guidance.

On July 30, 2026, Hippo announced strong fiscal Q2 2026 earnings, reporting net income of $10 million, or $0.38 per diluted share, substantially beating the consensus EPS forecast of -$0.17 per share. Revenue for the quarter reached $144.7 million, exceeding expectations of $137.44 million. Following these results, Hippo raised its full-year 2026 guidance, increasing Gross Written Premium (GWP) to a range of $1.65 billion-$1.7 billion (up from $1.45 billion-$1.525 billion) and adjusted net income guidance to $62 million-$70 million (up from $48 million-$56 million). The company also lowered its net combined ratio guidance to 99%-101% from 103%-105%, indicating improved operational efficiency.

3. Positive Analyst Sentiment and Increased Price Targets.

Following the company's strong performance, analysts upgraded ratings and increased price targets for HIPO. Texas Capital upgraded Hippo to a "strong-buy" rating on June 9, 2026. Keefe, Bruyette & Woods raised their price target from $32.00 to $33.00 on July 8, 2026. The consensus analyst rating for HIPO is "Moderate Buy," with an average 12-month price objective ranging from $38.67 to $39.75, implying significant upside from the stock's recent trading levels.

4. Enhanced Operational Efficiency and AI Integration.

Hippo highlighted significant improvements in underwriting profitability and expense management throughout the period. The company reported a high adoption rate of its company-wide AI tools, including the deployment of AI agents "Hannah" for service and "Clara" for first notice of loss, and an AI software engineer named "Devon" across its technology organization. These technological advancements contributed to a substantial reduction in bordereau integration time by approximately 90% and supported faster program scaling. The net expense ratio improved to 45.4%, an 8-percentage-point improvement year-over-year.

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Stock Movement Drivers

Fundamental Drivers

The 24.0% change in HIPO stock from 4/30/2026 to 8/19/2026 was primarily driven by a 16.6% change in the company's P/E Multiple.
(LTM values as of)43020268192026Change
Stock Price ($)26.3332.6424.0%
Change Contribution By: 
Total Revenues ($ Mil)4805075.7%
Net Income Margin (%)23.4%23.9%2.0%
P/E Multiple6.07.116.6%
Shares Outstanding (Mil)2626-1.4%
Cumulative Contribution24.0%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 8/19/2026
ReturnCorrelation
HIPO24.0% 
Market (SPY)7.0%1.5%
Sector (XLF)10.3%30.1%

Fundamental Drivers

The 9.5% change in HIPO stock from 1/31/2026 to 8/19/2026 was primarily driven by a 12.7% change in the company's Total Revenues ($ Mil).
(LTM values as of)13120268192026Change
Stock Price ($)29.8032.649.5%
Change Contribution By: 
Total Revenues ($ Mil)45050712.7%
Net Income Margin (%)21.3%23.9%12.2%
P/E Multiple7.87.1-9.9%
Shares Outstanding (Mil)2526-3.9%
Cumulative Contribution9.5%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2026 to 8/19/2026
ReturnCorrelation
HIPO9.5% 
Market (SPY)11.4%16.9%
Sector (XLF)8.1%38.5%

Fundamental Drivers

The 26.3% change in HIPO stock from 7/31/2025 to 8/19/2026 was primarily driven by a 27.7% change in the company's Total Revenues ($ Mil).
(LTM values as of)73120258192026Change
Stock Price ($)25.8432.6426.3%
Change Contribution By: 
Total Revenues ($ Mil)39750727.7%
P/S Multiple1.61.73.8%
Shares Outstanding (Mil)2526-4.7%
Cumulative Contribution26.3%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2025 to 8/19/2026
ReturnCorrelation
HIPO26.3% 
Market (SPY)22.7%26.8%
Sector (XLF)11.1%38.2%

Fundamental Drivers

The 89.8% change in HIPO stock from 7/31/2023 to 8/19/2026 was primarily driven by a 275.7% change in the company's Total Revenues ($ Mil).
(LTM values as of)73120238192026Change
Stock Price ($)17.2032.6489.8%
Change Contribution By: 
Total Revenues ($ Mil)135507275.7%
P/S Multiple3.01.7-42.9%
Shares Outstanding (Mil)2326-11.5%
Cumulative Contribution89.8%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2023 to 8/19/2026
ReturnCorrelation
HIPO89.8% 
Market (SPY)73.9%28.6%
Sector (XLF)70.0%32.5%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
HIPO Return-75%-81%-33%194%12%10%-89%
Peers Return27%11%16%31%13%6%158%
S&P 500 Return27%-19%24%23%16%12%105%

Monthly Win Rates [3]
HIPO Win Rate8%17%58%67%58%50% 
Peers Win Rate57%53%62%68%60%45% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
HIPO Max Drawdown--84%-65%-39%-34%-24% 
Peers Max Drawdown-12%-21%-21%-12%-18%-13% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: HIG, FNF, CB, PGR, TRV.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/19/2026 (YTD)

How Low Can It Go

EventHIPOS&P 500
2025 US Tariff Shock
  % Loss-31.8%-18.8%
  % Gain to Breakeven46.7%23.1%
  Time to Breakeven89 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-58.7%-9.5%
  % Gain to Breakeven141.9%10.5%
  Time to Breakeven153 days24 days
2023 SVB Regional Banking Crisis
  % Loss-25.8%-6.7%
  % Gain to Breakeven34.7%7.1%
  Time to Breakeven33 days31 days

Compare to HIG, FNF, CB, PGR, TRV

In The Past

Hippo's stock fell -31.8% during the 2025 US Tariff Shock. Such a loss loss requires a 46.7% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventHIPOS&P 500
2025 US Tariff Shock
  % Loss-31.8%-18.8%
  % Gain to Breakeven46.7%23.1%
  Time to Breakeven89 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-58.7%-9.5%
  % Gain to Breakeven141.9%10.5%
  Time to Breakeven153 days24 days
2023 SVB Regional Banking Crisis
  % Loss-25.8%-6.7%
  % Gain to Breakeven34.7%7.1%
  Time to Breakeven33 days31 days

Compare to HIG, FNF, CB, PGR, TRV

In The Past

Hippo's stock fell -31.8% during the 2025 US Tariff Shock. Such a loss loss requires a 46.7% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Hippo (HIPO)

Hippo Holdings Inc. (HIPO) is an insurtech company primarily focused on providing home protection insurance to homeowners across the United States and the District of Columbia. The company distinguishes itself by operating an integrated home protection platform, which leverages technology to offer a modern and comprehensive approach to safeguarding residential properties.

Hippo's main product offering is homeowners' insurance, designed to protect against common perils such as fire, wind, and theft. While its core business is homeowners' coverage, it also offers other commercial and personal lines of products. The company distributes its insurance products and services efficiently through multiple channels, including its proprietary technology platform, online portals, over the phone, and via licensed insurance agents.

AI Analysis | Feedback

Here are a few analogies for Hippo:

  • Lemonade for home insurance.
  • A tech-driven State Farm for homeowners.

AI Analysis | Feedback

  • Homeowners' Insurance: Provides insurance coverage protecting homeowners against various risks including fire, wind, and theft.
  • Commercial Lines Insurance: Offers insurance products tailored to protect businesses from a range of risks.
  • Personal Lines Insurance: Provides insurance products catering to individual needs, typically encompassing various forms of personal protection.

AI Analysis | Feedback

Hippo (HIPO) primarily sells its insurance products and services to individuals. Based on the company description, its major customer categories are:

  1. Homeowners: These are individuals who own residential properties and seek comprehensive insurance coverage against risks such as fire, wind, and theft. This represents the core focus of Hippo's business, providing home protection and care.
  2. Commercial Property Owners/Small Businesses: While the primary emphasis is on homeowners, Hippo also offers "commercial lines of products." This indicates that it serves businesses that require insurance for their commercial properties and operations.

AI Analysis | Feedback

  • Everest Group, Ltd. (EG)
  • RenaissanceRe Holdings Ltd. (RNR)

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Richard McCathron, President and Chief Executive Officer

Richard McCathron has served as Hippo’s President since February 2017 and became Chief Executive Officer in June 2022. Prior to joining Hippo, he held CEO roles at First Connect Insurance and Superior Access Insurance Services. He also served as Regional Vice President at Mercury Insurance Group. McCathron is a Chartered Property & Casualty Underwriter (CPCU) and a Certified Insurance Counselor (CIC). He sits on the boards of Spinnaker Insurance Company and First Connect Insurance, and acts as an advisor for several other insurtech companies.

Guy Zeltser, Chief Financial Officer

Guy Zeltser assumed the role of Chief Financial Officer in March 2025, overseeing all financial functions at Hippo. He previously held positions within Hippo as Vice President of Finance from June 2022 to March 2025, and Director of Strategic Finance from August 2020 to June 2022. Before joining Hippo, Zeltser was an Engagement Manager at McKinsey & Company.

Assaf Wand, Co-Founder and Executive Chairman of the Board

Assaf Wand co-founded Hippo in 2015 and currently serves as the Executive Chairman of the Board. He was the company's prior CEO. Before Hippo, Wand founded and served as CEO of Sabi, a consumer goods company that designed health and wellness products, which was acquired in 2015. His background also includes experience as a consultant with McKinsey & Company and an investor with Intel Capital.

Stewart Ellis, Executive Vice President and Chief Strategy Officer

Stewart Ellis is Hippo's Executive Vice President and Chief Strategy Officer, where he leads strategic planning and opportunistic initiatives. Prior to this role, Ellis was the Chief Financial Officer at mobile fintech company EarnIn and enterprise software company BloomReach. He also served as Vice President of Finance at 23andMe and Director of Corporate Development at eBay. Ellis has experience in corporate development and private equity investments.

Jo Overline, Chief Technology Officer

Jo Overline serves as Chief Technology Officer, overseeing all technology functions at Hippo. He previously held the position of VP of Engineering at Hippo, a role he took on following the company's acquisition of his technical advisory firm in 2021.

AI Analysis | Feedback

The key risks to Hippo Holdings Inc.'s business, operating in the home protection insurance market, are primarily centered around its exposure to unpredictable natural disasters, the ongoing challenge of achieving sustained profitability by managing its loss ratios, and the intense competitive landscape coupled with its reliance on reinsurance.

  1. Exposure to Catastrophic Events and Climate Change: Hippo's financial performance is significantly vulnerable to catastrophic events such as wildfires and other natural disasters. For instance, the Los Angeles wildfires in Q1 2025 resulted in substantial losses, directly impacting the company's financial results and loss ratios. The increasing frequency and severity of such events due to climate change pose an ongoing and material challenge to managing its loss ratios and maintaining consistent profitability.

  2. Achieving and Sustaining Profitability (Loss Ratio Management): Despite efforts and some improvements, Hippo has historically faced challenges with a high consolidated net loss ratio, indicating that claims costs have frequently outpaced premiums collected. While the company has implemented effective underwriting practices, strategic rate actions, and enhanced claims operations, the path to sustained profitability remains a critical hurdle. The ability to accurately underwrite risks and charge competitive yet profitable rates is fundamental to its long-term financial health.

  3. Intense Competition and Reliance on Reinsurance: Hippo operates in a highly competitive homeowners' insurance market, contending with both established insurers and other insurtech firms. This competitive environment can exert pressure on pricing and the need for higher marketing expenditures to acquire and retain customers. Furthermore, as an insurtech, Hippo relies on third-party reinsurance to manage its risk exposure. This hybrid fronting model, while necessary, introduces costs and counterparty credit risk, and the availability and pricing of reinsurance can significantly impact its ability to write new business and affect overall profitability.

AI Analysis | Feedback

Large, established insurance carriers are significantly accelerating their digital transformation and technology investments. These incumbents are developing advanced online platforms, leveraging artificial intelligence for underwriting and claims, integrating smart home technologies, and offering proactive home protection services that aim to replicate or exceed the capabilities of Hippo's "integrated home protection platform." By adopting and scaling these technological advancements, established carriers erode Hippo's differentiation while leveraging their vast customer bases, extensive capital, historical data, and brand recognition to potentially offer a similar or superior customer experience and broader product offerings.

AI Analysis | Feedback

Hippo Holdings Inc. (NYSE: HIPO) operates within the U.S. home protection market, with its primary offerings including homeowners' insurance and an integrated home protection platform. The addressable markets for these services are substantial within the United States.

The U.S. homeowners' insurance market was estimated at approximately USD 175.1 billion in 2025 and USD 184.59 billion in 2026, with projections to reach USD 236.90 billion by 2031, growing at a Compound Annual Growth Rate (CAGR) of 5.12% from 2026 to 2031. Another estimate placed the global home insurance market size at USD 234.6 billion in 2024, with the U.S. dominating the North American market with an 81.3% share and generating around USD 73 billion in revenue in 2024. The U.S. home insurance market is anticipated to continue significant growth from 2024 to 2030.

In terms of home protection services, which align with Hippo's integrated platform, the North America home security system market was valued at USD 24.65 billion in 2025 and is projected to reach USD 49.32 billion by 2034, with a CAGR of 8.01% from 2026 to 2034. The United States holds a dominant position within this market, commanding 89.6% of the total regional share in 2024. Specifically, the U.S. smart home security market generated a revenue of USD 10,144.4 million in 2024 and is expected to reach USD 21,940.5 million by 2030, growing at a CAGR of 13.1% from 2025 to 2030.

The broader U.S. home service market, which encompasses maintenance, repair, improvement, and installation services, was sized at USD 842.04 billion in 2026 and is projected to reach USD 989.22 billion by 2031, with a CAGR of 3.27%.

AI Analysis | Feedback

Hippo Holdings Inc. (HIPO) is expected to drive future revenue growth over the next 2-3 years through several strategic initiatives aimed at diversification, market expansion, and enhanced profitability:

  1. Diversification into Commercial Multi-Peril and Casualty Lines: Hippo is strategically shifting its premium mix beyond traditional homeowners' insurance. Commercial multi-peril (CMP) and casualty insurance lines have demonstrated substantial growth, with CMP gross written premium (GWP) increasing 75% to $265 million in 2025 and casualty GWP rising 92% to $264 million in the same year. This diversification strategy aims to build a more balanced and resilient portfolio, reducing reliance on homeowners' coverage and potentially lessening exposure to concentrated weather and regional risks.
  2. Relaunch and Growth of Homeowners' Business: While homeowners' GWP saw a 10% decline in 2025 due to a focus on profitability, Hippo has relaunched writing traditional new policies with selected partners. The company is retooling its homeowners' products, increasing rates, and improving terms, with plans to expand this segment as profitability is validated. This signals an expected return to growth in their core homeowners' segment.
  3. Expansion of Insurance-as-a-Service (IaaS) and Hybrid Fronting Platform (Spinnaker): Hippo leverages its technology-native platform to provide Insurance-as-a-Service to third-party carriers and Managing General Agents (MGAs), generating fee revenue. The company's integrated hybrid fronting platform, Spinnaker, drives growth across its owned and partner MGAs. This platform-centric model enables efficient scaling and broader market reach.
  4. Strategic Partnerships and New Market Access: A key partnership with The Baldwin Group's subsidiary, Westwood Insurance Agency, is expected to significantly expand the reach of Hippo's New Homes business. This collaboration will allow Hippo to accelerate growth in the new construction homeowners' market by tripling its access to new construction homebuyers. Furthermore, Spinnaker will provide capacity to a broader range of Baldwin's MGA programs.
  5. Improved Underwriting Discipline and Profitability: While not a direct revenue driver, improved underwriting performance and a lower combined ratio are crucial for sustainable growth and the capacity to expand. Hippo has significantly improved its combined ratio by 25 percentage points to 113% in 2025 and its net loss ratio by 17 percentage points to 60% in the same year. Management projects a further improvement in the net combined ratio to 103%-105% in 2026, reinforcing a focus on disciplined, profitable growth that supports future revenue expansion.

AI Analysis | Feedback

Share Repurchases

  • Hippo repurchased approximately 514,000 shares of its common stock for $14.5 million in a private transaction on July 1, 2025. This share repurchase helped to offset first-quarter operating losses.
  • On March 13, 2023, Hippo Holdings launched a $50 million stock-buyback plan.

Share Issuance

  • No significant direct equity share issuances were explicitly identified in the provided search results for the last 3-5 years. In Q2 2025, the company's cash and investments increased by $76 million, primarily driven by a $50 million surplus note issuance, which is a debt instrument.

Inbound Investments

  • In June 2025, Hippo entered into a strategic partnership with The Baldwin Group, which included Baldwin purchasing Hippo's homebuilder distribution network for $100 million. The sale consisted of $75 million in upfront cash and an additional $25 million to be paid in the first quarter of 2026.
  • Hippo recorded a $46 million gain from the sale of a majority stake in First Connect during Q4 2024.

Capital Expenditures

  • Specific dollar values for capital expenditures and their primary focus were not explicitly detailed in the provided search results for the last 3-5 years.

Peer Outperformance in Property & Casualty Insurance

HIPO has trailed 100% of its 41 Property & Casualty Insurance peers over 5Y. Property & Casualty Insurance ranks 5th of 18 industries in Financials by median 5Y return.
Share of Property & Casualty Insurance constituents that HIPO has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
29%
of 45 industry peers · 5.1% return
3Y
79%
of 42 industry peers · 203.6% return
5Y
0%
of 41 industry peers · -68.9% return
No Property & Casualty Insurance peer with a comparable growth profile has beaten HIPO by more than 20pp over 5Y.
Median price return by industry across the Financials sector, ranked by 5Y. Property & Casualty Insurance is HIPO's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Investment Banking & Brokerage 13 6.3%130.7%137.3% IBKR 501% · SNEX 237% · GS 191%
Reinsurance 6 21.6%83.3%115.7% SPNT 139% · MTG 132% · RGA 129%
Diversified Banks 12 43.1%129.6%111.2% JPM 162% · CM 159% · RY 142%
Life & Health Insurance 19 14.9%55.7%88.3% UNM 301% · FG 210% · MFC 181%
Property & Casualty Insurance ← 42 13.7%74.7%66.5% ASIC 2448900% · HRTG 423% · UVE 271%
Regional Banks 265 32.1%79.7%65.1% GCBC 389% · ESQ 367% · NBN 285%
Multi-line Insurance 9 15.3%82.1%58.3% GNW 196% · L 106% · SLF 90%
Consumer Finance 30 14.7%85.8%37.6% ENVA 710% · EZPW 356% · AGM 171%
Multi-Sector Holdings 6 -2.4%17.8%34.9% JEF 90% · BRK-B 75% · VOYA 68%
Insurance Brokers 15 -11.0%10.3%31.9% LIFE 616% · AJG 90% · ARX 86%
Asset Management & Custody Banks 83 -6.7%22.2%27.7% SII 312% · WT 300% · VCTR 290%
Financial Exchanges & Data 15 -2.1%14.4%20.5% VIRT 183% · CBOE 131% · CME 66%
Commercial & Residential Mortgage Finance 12 -27.2%18.8%9.1% FNMA 543% · FMCC 523% · ESNT 64%
Specialized Finance 3 22.3%55.7%0.5% EFC 39% · CACC 1% · HASI -7%
Mortgage REITs 34 -4.2%15.4%-10.4% RITM 77% · NREF 59% · DX 45%
Transaction & Payment Processing Services 15 3.1%5.5%-40.2% MA 66% · V 64% · CPAY 58%
Diversified Capital Markets 21 -26.8%0.5%-43.5% BTCS 538% · OPY 184% · LPLA 158%
Diversified Financial Services 5 -6.0%61.5%-55.9% FRHC 164% · EQH 88% · TMS -56%
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

Latest Trefis Analyses

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Peer Comparisons

Peers to compare with:

Financials

HIPOHIGFNFCBPGRTRVMedian
NameHippo Hartford.Fidelity.Chubb Progress.Traveler. 
Mkt Price32.64137.5348.42340.92217.27362.22177.40
Mkt Cap0.937.612.9132.1126.776.256.9
Rev LTM50728,62614,98562,27791,01948,97938,802
Op Inc LTM-------
FCF LTM585,7585,42815,37615,95111,0268,392
FCF 3Y Avg75,6596,10314,84715,1829,6487,876
CFO LTM725,8805,56315,37616,33911,0268,453
CFO 3Y Avg205,8216,24314,84715,4999,6487,945

Growth & Margins

HIPOHIGFNFCBPGRTRVMedian
NameHippo Hartford.Fidelity.Chubb Progress.Traveler. 
Rev Chg LTM19.3%6.1%12.7%8.5%10.5%2.4%9.5%
Rev Chg 3Y Avg51.8%7.2%10.0%10.4%17.8%8.2%10.2%
Rev Chg Q23.4%6.6%11.0%7.2%7.3%0.3%7.3%
QoQ Delta Rev Chg LTM5.7%1.6%2.7%1.8%1.8%0.1%1.8%
Op Inc Chg LTM-------
Op Inc Chg 3Y Avg-------
Op Mgn LTM-------
Op Mgn 3Y Avg-------
QoQ Delta Op Mgn LTM-------
CFO/Rev LTM14.1%20.5%37.1%24.7%18.0%22.5%21.5%
CFO/Rev 3Y Avg2.5%21.6%46.5%25.8%19.3%20.5%21.1%
FCF/Rev LTM11.5%20.1%36.2%24.7%17.5%22.5%21.3%
FCF/Rev 3Y Avg-1.1%21.0%45.5%25.8%19.0%20.5%20.7%

Valuation

HIPOHIGFNFCBPGRTRVMedian
NameHippo Hartford.Fidelity.Chubb Progress.Traveler. 
Mkt Cap0.937.612.9132.1126.776.256.9
P/S1.71.30.92.11.41.61.5
P/Op Inc-------
P/EBIT-7.26.58.88.47.17.2
P/E7.18.616.711.810.89.210.0
P/CFO11.96.42.38.67.86.97.3
Total Yield14.2%13.3%10.2%9.6%15.7%12.2%12.7%
Dividend Yield0.0%1.7%4.3%1.2%6.4%1.3%1.5%
FCF Yield 3Y Avg-1.0%16.8%44.4%12.8%11.3%16.5%14.7%
D/E0.10.10.40.10.10.10.1
Net D/E-0.5-0.4-2.1-0.2-0.0-1.2-0.5

Returns

HIPOHIGFNFCBPGRTRVMedian
NameHippo Hartford.Fidelity.Chubb Progress.Traveler. 
1M Rtn10.9%-2.1%-4.8%-3.3%2.4%-1.7%-1.9%
3M Rtn25.6%1.1%-0.4%4.1%7.3%18.5%5.7%
6M Rtn15.3%-1.8%-11.7%4.2%7.0%22.3%5.6%
12M Rtn5.1%6.2%-12.2%26.1%-7.7%36.9%5.6%
3Y Rtn203.6%102.4%38.4%77.6%77.5%135.3%90.0%
1M Excs Rtn9.7%-5.8%-7.3%-6.6%2.9%-4.7%-5.2%
3M Excs Rtn21.6%-2.5%-4.7%-1.2%2.3%14.2%0.5%
6M Excs Rtn3.2%-13.8%-23.7%-7.9%-5.0%10.3%-6.4%
12M Excs Rtn-16.3%-11.7%-30.5%7.0%-25.9%19.4%-14.0%
3Y Excs Rtn154.4%26.7%-38.0%4.3%17.1%58.2%21.9%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Property and casualty insurance business469372210  
Eliminations   -18 
Hippo Home Insurance Program   64 
Insurance-as-a-Service   37 
Services   37 
Single Segment    91
Total46937221012091


Price Behavior

Price Behavior
Market Price$32.64 
Market Cap ($ Bil)0.9 
First Trading Date01/11/2021 
Distance from 52W High-13.8% 
   50 Days200 Days
DMA Price$29.08$28.99
DMA Trenddownup
Distance from DMA12.3%12.6%
 3M1YR
Volatility39.5%38.0%
Downside Capture-76.1095.19
Upside Capture41.5579.74
Correlation (SPY)-0.5%26.5%
HIPO Betas & Captures as of 7/31/2026

 1M2M3M6M1Y3Y
Beta0.54-0.13-0.020.460.871.22
Up Beta1.090.26-0.160.480.651.17
Down Beta0.84-0.26-0.280.060.640.80
Up Capture109%46%52%50%108%322%
Bmk +ve Days11223567138427
Stock +ve Days13253461127371
Down Capture-60%-90%-32%64%100%108%
Bmk -ve Days11212859114326
Stock -ve Days9182964123373

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with HIPO
HIPO3.2%37.9%0.16-
Sector ETF (XLF)10.8%14.5%0.4939.6%
Equity (SPY)20.7%12.8%1.1926.4%
Gold (GLD)35.0%28.8%1.041.7%
Commodities (DBC)41.4%20.2%1.60-19.5%
Real Estate (VNQ)15.3%13.9%0.7822.3%
Bitcoin (BTCUSD)-44.7%42.7%-1.2714.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with HIPO
HIPO-26.5%70.6%-0.14-
Sector ETF (XLF)10.0%18.4%0.4132.3%
Equity (SPY)13.1%17.2%0.5933.8%
Gold (GLD)20.4%18.6%0.896.8%
Commodities (DBC)9.8%19.6%0.393.5%
Real Estate (VNQ)2.4%18.9%0.0330.5%
Bitcoin (BTCUSD)7.2%52.6%0.3224.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with HIPO
HIPO-19.6%68.2%-0.29-
Sector ETF (XLF)13.4%22.0%0.5530.1%
Equity (SPY)15.2%17.9%0.7232.9%
Gold (GLD)12.5%16.2%0.637.1%
Commodities (DBC)7.9%18.1%0.353.4%
Real Estate (VNQ)4.9%20.7%0.2029.3%
Bitcoin (BTCUSD)60.0%66.0%1.0021.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date7312026
Short Interest: Shares Quantity0.8 Mil
Short Interest: % Change Since 7152026-9.7%
Average Daily Volume0.1 Mil
Days-to-Cover Short Interest5.4 days
Basic Shares Quantity26.2 Mil
Short % of Basic Shares3.1%

Earnings Returns History

Updated 8/10/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/30/2026-1.3%4.7% 
4/30/20265.3%4.3%-1.6%
2/25/20266.4%2.3%-5.8%
11/5/2025-8.6%-11.2%-20.8%
8/6/2025-5.4%-0.6%5.4%
5/7/2025-15.9%-9.6%13.4%
3/6/2025-0.3%-11.0%-25.0%
11/8/20245.4%-3.1%1.8%
...
SUMMARY STATS   
# Positive866
# Negative121413
Median Positive5.0%4.1%10.7%
Median Negative-4.3%-10.1%-14.4%
Max Positive21.6%6.2%24.0%
Max Negative-15.9%-27.3%-43.8%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/30/2026-1.3%4.7% 
4/30/20265.3%4.3%-1.6%
2/25/20266.4%2.3%-5.8%
11/5/2025-8.6%-11.2%-20.8%
8/6/2025-5.4%-0.6%5.4%
5/7/2025-15.9%-9.6%13.4%
3/6/2025-0.3%-11.0%-25.0%
11/8/20245.4%-3.1%1.8%
5/2/2024-3.7%-2.4%-7.9%
3/6/2024-4.8%-2.8%24.0%
11/2/202321.6%4.0%13.6%
8/8/2023-10.3%-20.6%-18.7%
5/9/2023-0.4%-6.1%-15.5%
3/2/2023-0.8%-22.1%-3.0%
11/10/2022-3.3%-17.4%-14.4%
8/11/20224.7%2.0%8.0%
5/13/20221.9%-10.5%-43.8%
3/10/20221.6%6.2%-2.1%
11/10/20210.7%-5.9%-31.0%
8/16/2021-15.3%-27.3%-1.5%
SUMMARY STATS   
# Positive866
# Negative121413
Median Positive5.0%4.1%10.7%
Median Negative-4.3%-10.1%-14.4%
Max Positive21.6%6.2%24.0%
Max Negative-15.9%-27.3%-43.8%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202607/30/202610-Q
03/31/202604/30/202610-Q
12/31/202503/05/202610-K
09/30/202511/05/202510-Q
06/30/202508/06/202510-Q
03/31/202505/07/202510-Q
12/31/202403/06/202510-K
09/30/202411/08/202410-Q
06/30/202408/08/202410-Q
03/31/202405/02/202410-Q
12/31/202303/06/202410-K
09/30/202311/02/202310-Q
06/30/202308/08/202310-Q
03/31/202305/09/202310-Q
12/31/202203/02/202310-K
09/30/202211/10/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202607/30/202610-Q
03/31/202604/30/202610-Q
12/31/202503/05/202610-K
09/30/202511/05/202510-Q
06/30/202508/06/202510-Q
03/31/202505/07/202510-Q
12/31/202403/06/202510-K
09/30/202411/08/202410-Q
06/30/202408/08/202410-Q
03/31/202405/02/202410-Q
12/31/202303/06/202410-K
09/30/202311/02/202310-Q
06/30/202308/08/202310-Q
03/31/202305/09/202310-Q
12/31/202203/02/202310-K
09/30/202211/10/202210-Q
06/30/202208/11/202210-Q
03/31/202205/16/202210-Q
12/31/202103/14/202210-K
09/30/202111/10/202110-Q
06/30/202108/16/202110-Q

Recent Forward Guidance

Updated 7/31/2026

Latest: Q2 2026 Earnings Reported 7/30/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Gross Written Premium1.65 Bil1.68 Bil1.70 Bil12.6% RaisedGuidance: 1.49 Bil for 2026
2026 Net Written Premium565.00 Mil572.50 Mil580.00 Mil7.0% RaisedGuidance: 535.00 Mil for 2026
2026 Revenue580.00 Mil582.50 Mil585.00 Mil3.1% RaisedGuidance: 565.00 Mil for 2026
2026 Combined Ratio0.9911.01 -4.0%LoweredGuidance: 1.04 for 2026
2026 CAT Loss Ratio 0.1  -3.0%LoweredGuidance: 0.13 for 2026
2026 Adjusted Net Income62.00 Mil66.00 Mil70.00 Mil26.9% RaisedGuidance: 52.00 Mil for 2026
2026 Stock-based compensation + Depreciation and Amortization 42.00 Mil    

Prior: Q1 2026 Earnings Reported 4/30/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Gross Written Premium1.45 Bil1.49 Bil1.52 Bil2.6% RaisedGuidance: 1.45 Bil for 2026
2026 Net Written Premium520.00 Mil535.00 Mil550.00 Mil2.9% RaisedGuidance: 520.00 Mil for 2026
2026 Revenue560.00 Mil565.00 Mil570.00 Mil   
2026 Combined Ratio1.031.041.05 0AffirmedGuidance: 1.04 for 2026
2026 CAT Loss Ratio 0.13  0AffirmedGuidance: 0.13 for 2026
2026 Adjusted Net Income48.00 Mil52.00 Mil56.00 Mil4.0% RaisedGuidance: 50.00 Mil for 2026

Q4 2025 Earnings Reported 2/25/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Gross Written Premium1.40 Bil1.45 Bil1.50 Bil31.8% Higher NewActual: 1.10 Bil for 2025
2026 Net Written Premium500.00 Mil520.00 Mil540.00 Mil   
2026 Combined Ratio1.031.041.05   
2026 CAT Loss Ratio 0.13    
2026 Adjusted Net Income45.00 Mil50.00 Mil55.00 Mil316.7% Higher NewActual: 12.00 Mil for 2025
2026 Stock-based compensation + Depreciation and Amortization 41.00 Mil    

Q3 2025 Earnings Reported 11/5/2025

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q4 2025 Gross Written Premium269.00 Mil279.00 Mil289.00 Mil   
Q4 2025 Revenue117.00 Mil118.50 Mil120.00 Mil   
Q4 2025 Net Loss Ratio0.550.570.6   
Q4 2025 Net Income1.00 Mil3.00 Mil5.00 Mil   
Q4 2025 Adjusted Net Income10.00 Mil12.00 Mil14.00 Mil   
2025 Gross Written Premium1.09 Bil1.10 Bil1.11 Bil1.4% RaisedGuidance: 1.08 Bil for 2025
2025 Revenue465.00 Mil466.50 Mil468.00 Mil0.9% RaisedGuidance: 462.50 Mil for 2025
2025 Net Loss Ratio0.630.640.64 -4.5%LoweredGuidance: 0.68 for 2025
2025 Net Income53.00 Mil55.00 Mil57.00 Mil48.6% RaisedGuidance: 37.00 Mil for 2025
2025 Adjusted Net Income10.00 Mil12.00 Mil14.00 Mil  RaisedGuidance: -2.00 Mil for 2025

Insider Activity

Updated 8/18/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Ostergaard, TorbenCEO SpinnakerDirectSell818202633.001,16938,5772,040,192Form
2McCathron, RichardChief Executive OfficerDirectSell812202632.005,000160,00018,573,856Form
3Zeltser, GuyChief Financial OfficerDirectSell730202630.981,66951,7063,735,042Form
4McCathron, RichardChief Executive OfficerDirectSell713202628.535,000142,65016,702,403Form
5McCathron, RichardChief Executive OfficerDirectSell611202625.005,000125,00014,760,825Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Ostergaard, TorbenCEO SpinnakerDirectSell818202633.001,16938,5772,040,192Form
2McCathron, RichardChief Executive OfficerDirectSell812202632.005,000160,00018,573,856Form
3Zeltser, GuyChief Financial OfficerDirectSell730202630.981,66951,7063,735,042Form
4McCathron, RichardChief Executive OfficerDirectSell713202628.535,000142,65016,702,403Form
5McCathron, RichardChief Executive OfficerDirectSell611202625.005,000125,00014,760,825Form
6Ostergaard, TorbenCEO SpinnakerDirectSell519202626.103,66795,7061,714,019Form
7McCathron, RichardChief Executive OfficerDirectSell513202627.105,000135,50016,374,145Form
8McCathron, RichardChief Executive OfficerDirectSell413202626.055,000130,25015,907,432Form
9McCathron, RichardChief Executive OfficerDirectSell310202625.865,000129,30015,920,709Form
10Ostergaard, TorbenCEO SpinnakerDirectSell227202630.4460018,2661,403,263Form
11Ostergaard, TorbenCEO SpinnakerDirectSell218202628.576,105174,3911,333,828Form
12Zeltser, GuyChief Financial OfficerDirectBuy21820267.236654,808502,666Form
13McCathron, RichardChief Executive OfficerDirectSell211202629.145,000145,70012,900,395Form
14McCathron, RichardChief Executive OfficerDirectSell113202631.525,000157,60014,111,630Form
15Stienstra, MichaelGM & Chief Insurance, HHIPDirectSell1224202531.123,900121,3662,218,222Form
16McCathron, RichardChief Executive OfficerDirectSell1211202529.825,000149,10013,499,633Form
17Ostergaard, TorbenCEO SpinnakerDirectSell1125202531.993,645116,5921,765,895Form
18Zeltser, GuyChief Financial OfficerDirectSell1119202532.161,81958,4942,214,332Form
19Zeltser, GuyChief Financial OfficerDirectSell919202537.485,177194,0322,805,762Form
20McCathron, RichardChief Executive OfficerDirectSell910202534.122,72592,96916,048,321Form
21McCathron, RichardChief Executive OfficerDirectSell826202534.002,27577,35116,086,031Form

Investor Activity (13F)

Updated Aug 20, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Westerly Capital Management, LLC$13.0 Mil4.0%36ADD +19.0%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Westerly Capital Management, LLC$13.0 Mil4.0%36ADD +19.0%13F
Active Manager
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Westerly Capital Management, LLC$13.0 Mil4.0%36ADD +19.0%13F
Core Cache Last Updated: 8/19/2026