Hippo (NYSE:HIPO) Shares Down 5.7% – What’s Next?

Hippo Holdings Inc. (NYSE:HIPO)’s share price traded down 5.7% during mid-day trading on Monday . The company traded as low as $30.90 and last traded at $31.15. 112,723 shares were traded during mid-day trading, a decline of 30% from the average session volume of 160,098 shares. The stock had previously closed at $33.04.

Analyst Upgrades and Downgrades

HIPO has been the topic of several research analyst reports. Jefferies Financial Group decreased their price target 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 upped their target price on Hippo from $20.00 to $21.00 and gave the company a “market perform” rating in a report on Monday, August 19th. Finally, JMP Securities lifted their price target 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 Trading Down 5.7 %

The firm has a market capitalization of $759.06 million, a PE ratio of -6.06 and a beta of 1.26. The stock’s 50 day moving average price is $22.46 and its two-hundred day moving average price is $19.38.

Insider Buying and Selling at Hippo

In related news, CEO Richard Mccathron sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $30.16, for a total transaction of $452,400.00. Following the sale, the chief executive officer now owns 339,623 shares in the company, valued at approximately $10,243,029.68. This trade represents a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Assaf Wand sold 12,250 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $16.19, for a total value of $198,327.50. Following the transaction, the chairman now directly owns 548,064 shares in the company, valued at approximately $8,873,156.16. This represents a 2.19 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,657 shares of company stock worth $990,571. 11.37% of the stock is owned by insiders.

Hedge Funds Weigh In On Hippo

Several institutional investors and hedge funds have recently bought and sold shares of HIPO. Jacobs Levy Equity Management Inc. acquired a new position in shares of Hippo in the 3rd quarter valued at about $864,000. Vanguard Group Inc. boosted its holdings in Hippo by 6.3% in the 1st quarter. Vanguard Group Inc. now owns 759,254 shares of the company’s stock worth $13,872,000 after acquiring an additional 45,058 shares during the period. Dimensional Fund Advisors LP acquired a new stake in Hippo in the second quarter valued at approximately $629,000. State Street Corp raised its stake 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 period. Finally, Bank of New York Mellon Corp lifted its position in shares of Hippo by 99.2% during the second quarter. Bank of New York Mellon Corp now owns 61,089 shares of the company’s stock worth $1,050,000 after purchasing an additional 30,418 shares in the last quarter. Institutional investors and hedge funds own 43.01% of the company’s stock.

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.