Stock Track | Hippo Holdings Soars 21% on Q3 Beat and First Connect Stake Sale

Stock Track11-09

Shares of home insurance group Hippo Holdings Inc. (HIPO) surged over 20% on Wednesday after the company reported better-than-expected third quarter results and announced the sale of a majority stake in its subsidiary First Connect Insurance Services.

For the quarter ended September 30, 2024, Hippo posted revenue of $95.5 million, up a robust 65% year-over-year and exceeding analysts' expectations of $94.1 million. The strong revenue growth was driven by continued improvement in Hippo's core home insurance business.

Hippo's net loss attributable to shareholders narrowed significantly to $8.5 million, down 84% compared to the same period last year. The company also reported positive operating leverage, with fixed expenses declining while revenue increased due to investments in operational efficiencies.

In a separate announcement, Hippo revealed it has sold a majority stake in its First Connect Insurance Services subsidiary to growth equity firm Centana Growth Partners. The deal will see Centana invest over $60 million into First Connect to fund its future growth plans.

First Connect is an insurtech platform that digitally connects independent insurance agents with carriers. By divesting the subsidiary, Hippo can now focus more intently on enhancing its core home insurance operations and advancing towards profitability.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1186224389?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-11-09 03:28","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1186224389","market":"us","top_or_hot":-1,"title":"Stock Track | Hippo Holdings Soars 21% on Q3 Beat and First Connect Stake Sale","media":"Stock Track","content":"<p>Shares of home insurance group Hippo Holdings Inc. (HIPO) surged over 20% on Wednesday after the company reported better-than-expected third quarter results and announced the sale of a majority stake in its subsidiary First Connect Insurance Services.</p>\n\n<p>For the quarter ended September 30, 2024, Hippo posted revenue of $95.5 million, up a robust 65% year-over-year and exceeding analysts' expectations of $94.1 million. The strong revenue growth was driven by continued improvement in Hippo's core home insurance business.</p>\n\n<p>Hippo's net loss attributable to shareholders narrowed significantly to $8.5 million, down 84% compared to the same period last year. The company also reported positive operating leverage, with fixed expenses declining while revenue increased due to investments in operational efficiencies.</p>\n\n<p>In a separate announcement, Hippo revealed it has sold a majority stake in its First Connect Insurance Services subsidiary to growth equity firm Centana Growth Partners. The deal will see Centana invest over $60 million into First Connect to fund its future growth plans.</p>\n\n<p>First Connect is an insurtech platform that digitally connects independent insurance agents with carriers. By divesting the subsidiary, Hippo can now focus more intently on enhancing its core home insurance operations and advancing towards profitability.</p>","source":"ai_movement_en","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stock Track | Hippo Holdings Soars 21% on Q3 Beat and First Connect Stake Sale</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStock Track | Hippo Holdings Soars 21% on Q3 Beat and First Connect Stake Sale\n</h2>\n\n<h4 class=\"meta\">\n\n2024-11-09 03:28 北京时间&nbsp;&nbsp;&nbsp;<strong>Stock Track</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of home insurance group Hippo Holdings Inc. (HIPO) surged over 20% on Wednesday after the company reported better-than-expected third quarter results and announced the sale of a majority stake ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"HIPO","symbol_name":"Hippo Holdings Inc.","start_time":0,"source_url":"","article_id":"1186224389","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1186224389","pubTimestamp":1731094128,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of home insurance group Hippo Holdings Inc.  surged over 20% on Wednesday after the company reported better-than-expected third quarter results and announced the sale of a majority stake in its subsidiary First Connect Insurance Services.For the quarter ended September 30, 2024, Hippo posted revenue of $95.5 million, up a robust 65% year-over-year and exceeding analysts' expectations of $94.1 million. The strong revenue growth was driven by continued improvement in Hippo's core home insur","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"HIPO":"Hippo Holdings Inc."},"translate_title":"股票轨迹Hippo Holdings因第三季度业绩和First Connect股份出售而飙升21%","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"HIPO":1},"content_text":"Shares of home insurance group Hippo Holdings Inc. (HIPO) surged over 20% on Wednesday after the company reported better-than-expected third quarter results and announced the sale of a majority stake in its subsidiary First Connect Insurance Services.\nFor the quarter ended September 30, 2024, Hippo posted revenue of $95.5 million, up a robust 65% year-over-year and exceeding analysts' expectations of $94.1 million. The strong revenue growth was driven by continued improvement in Hippo's core home insurance business.\nHippo's net loss attributable to shareholders narrowed significantly to $8.5 million, down 84% compared to the same period last year. The company also reported positive operating leverage, with fixed expenses declining while revenue increased due to investments in operational efficiencies.\nIn a separate announcement, Hippo revealed it has sold a majority stake in its First Connect Insurance Services subsidiary to growth equity firm Centana Growth Partners. The deal will see Centana invest over $60 million into First Connect to fund its future growth plans.\nFirst Connect is an insurtech platform that digitally connects independent insurance agents with carriers. By divesting the subsidiary, Hippo can now focus more intently on enhancing its core home insurance operations and advancing towards profitability.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"movement","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1186224389"}