Insider Selling: Hippo Holdings Inc. (NYSE:HIPO) CEO Sells 2,092 Shares of Stock

Hippo Holdings Inc. (NYSE:HIPO) CEO Torben Ostergaard sold 2,092 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $26.46, for a total transaction of $55,354.32. Following the completion of the sale, the chief executive officer now owns 104,332 shares of the company’s stock, valued at $2,760,624.72. The trade was a 1.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Hippo Price Performance

Shares of NYSE HIPO opened at $25.26 on Friday. Hippo Holdings Inc. has a fifty-two week low of $7.75 and a fifty-two week high of $34.24. The firm has a market capitalization of $615.33 million, a P/E ratio of -4.85 and a beta of 1.47. The company’s 50 day simple moving average is $25.68 and its 200 day simple moving average is $20.41.

Hedge Funds Weigh In On Hippo

Several hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in shares of Hippo by 6.3% in the 3rd quarter. Geode Capital Management LLC now owns 442,261 shares of the company’s stock valued at $7,467,000 after buying an additional 26,085 shares during the period. State Street Corp increased its stake in Hippo by 10.5% during the 3rd quarter. State Street Corp now owns 377,537 shares of the company’s stock worth $6,373,000 after purchasing an additional 35,743 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Hippo by 9.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 151,240 shares of the company’s stock worth $2,553,000 after buying an additional 13,586 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Hippo by 37.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,924 shares of the company’s stock valued at $1,113,000 after buying an additional 17,978 shares in the last quarter. Finally, Bank of New York Mellon Corp increased 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 acquiring an additional 30,418 shares in the last quarter. Institutional investors and hedge funds own 43.01% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on HIPO. Jefferies Financial Group reduced their price objective on Hippo from $29.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. JMP Securities upped their price target on Hippo from $25.00 to $35.00 and gave the company a “market outperform” rating in a research note on Friday, November 22nd.

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.