Hippo (NYSE:HIPO) Stock Price Up 5.1% – Here’s What Happened

Hippo Holdings Inc. (NYSE:HIPO)’s stock price rose 5.1% during trading on Monday . The stock traded as high as $28.94 and last traded at $28.68. Approximately 55,971 shares traded hands during trading, a decline of 64% from the average daily volume of 156,441 shares. The stock had previously closed at $27.29.

Wall Street Analyst Weigh In

Several research firms recently issued reports on HIPO. Jefferies Financial Group cut their target price on Hippo from $29.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods lifted their price objective on Hippo from $20.00 to $21.00 and gave the stock a “market perform” rating in a research report on Monday, August 19th.

Hippo Trading Up 3.9 %

The business’s 50 day moving average price is $19.78 and its two-hundred day moving average price is $18.44. The stock has a market cap of $706.73 million, a P/E ratio of -5.53 and a beta of 1.26.

Insider Activity at Hippo

In other Hippo news, CAO Anirudh Badia sold 2,552 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $24.49, for a total transaction of $62,498.48. Following the completion of the sale, the chief accounting officer now directly owns 102,315 shares in the company, valued at approximately $2,505,694.35. This trade represents a 2.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard Mccathron sold 10,000 shares of Hippo stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $25.55, for a total transaction of $255,500.00. Following the completion of the transaction, the chief executive officer now directly owns 366,146 shares of the company’s stock, valued at $9,355,030.30. This trade represents a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,657 shares of company stock worth $538,171 over the last ninety days. 11.37% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hippo

Hedge funds have recently added to or reduced their stakes in the company. Hood River Capital Management LLC increased its holdings in shares of Hippo by 79.4% in the 1st quarter. Hood River Capital Management LLC now owns 326,343 shares of the company’s stock worth $5,962,000 after purchasing an additional 144,459 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Hippo in the 3rd quarter worth about $864,000. Vanguard Group Inc. lifted its stake in Hippo by 6.3% during the 1st quarter. Vanguard Group Inc. now owns 759,254 shares of the company’s stock valued at $13,872,000 after acquiring an additional 45,058 shares during the period. Dimensional Fund Advisors LP bought a new stake in shares of Hippo in the second quarter worth approximately $629,000. Finally, State Street Corp raised its holdings in shares of Hippo by 10.5% during the third quarter. State Street Corp now owns 377,537 shares of the company’s stock valued at $6,373,000 after purchasing an additional 35,743 shares during the last quarter. 43.01% of the stock is currently owned by hedge funds and other institutional investors.

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.