Hippo (NYSE:HIPO) Hits New 12-Month High – Here’s What Happened

Hippo Holdings Inc. (NYSE:HIPO) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $30.55 and last traded at $30.42, with a volume of 148011 shares. The stock had previously closed at $28.76.

Analyst Ratings Changes

A number of research analysts have weighed in on HIPO shares. Keefe, Bruyette & Woods upped their price objective on shares of Hippo from $20.00 to $21.00 and gave the stock a “market perform” rating in a research report on Monday, August 19th. Jefferies Financial Group reduced their target price on Hippo from $29.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Finally, JMP Securities upped their price objective on shares of Hippo from $25.00 to $35.00 and gave the stock a “market outperform” rating in a research report on Friday.

Hippo Trading Up 5.9 %

The firm’s 50 day simple moving average is $20.98 and its 200-day simple moving average is $18.86.

Insider Buying and Selling

In other Hippo news, CEO Richard Mccathron sold 10,000 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $25.55, for a total transaction of $255,500.00. Following the transaction, the chief executive officer now owns 366,146 shares of the company’s stock, valued at approximately $9,355,030.30. The trade was a 2.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Assaf Wand sold 12,250 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $16.19, for a total value of $198,327.50. Following the completion of the sale, the chairman now owns 548,064 shares of the company’s stock, valued at approximately $8,873,156.16. The trade was a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,657 shares of company stock worth $538,171. 11.37% of the stock is owned by insiders.

Hedge Funds Weigh In On Hippo

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Hippo by 6.3% during the 1st quarter. Vanguard Group Inc. now owns 759,254 shares of the company’s stock worth $13,872,000 after purchasing an additional 45,058 shares during the period. Geode Capital Management LLC boosted its stake in Hippo by 6.3% during the third quarter. Geode Capital Management LLC now owns 442,261 shares of the company’s stock worth $7,467,000 after buying an additional 26,085 shares during the period. State Street Corp increased its position 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 acquiring an additional 35,743 shares during the last quarter. Hood River Capital Management LLC raised its stake 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 valued at $5,962,000 after acquiring an additional 144,459 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Hippo by 9.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 151,240 shares of the company’s stock worth $2,553,000 after acquiring an additional 13,586 shares during the last quarter. 43.01% of the stock is currently owned by institutional investors and hedge funds.

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.