Hippo (NYSE:HIPO) Shares Down 4.9% – Here’s What Happened

Hippo Holdings Inc. (NYSE:HIPO)’s stock price was down 4.9% during trading on Thursday . The company traded as low as $25.26 and last traded at $25.46. Approximately 82,196 shares were traded during trading, a decline of 49% from the average daily volume of 162,303 shares. The stock had previously closed at $26.77.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. JMP Securities boosted their price target on Hippo from $25.00 to $35.00 and gave the stock a “market outperform” rating in a report on Friday, November 22nd. Jefferies Financial Group reduced their target price on shares of Hippo from $29.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th.

Hippo Trading Up 4.5 %

The stock’s 50 day moving average price is $27.44 and its 200 day moving average price is $21.15. The company has a market cap of $652.85 million, a price-to-earnings ratio of -5.14 and a beta of 1.47.

Insider Buying and Selling at Hippo

In related news, CAO Anirudh Badia sold 2,552 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $24.49, for a total value 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 represents a 2.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard Mccathron sold 15,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $30.16, for a total value of $452,400.00. Following the transaction, the chief executive officer now owns 339,623 shares in the company, valued at approximately $10,243,029.68. This represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,771 shares of company stock worth $1,818,963 in the last quarter. 11.37% of the stock is owned by insiders.

Institutional Trading of Hippo

Several large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in shares of Hippo by 205.0% in the third quarter. JPMorgan Chase & Co. now owns 146,176 shares of the company’s stock worth $2,467,000 after buying an additional 98,256 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Hippo in the 3rd quarter worth about $864,000. Dimensional Fund Advisors LP bought a new stake in shares of Hippo in the 2nd quarter worth about $629,000. State Street Corp lifted 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 worth $6,373,000 after purchasing an additional 35,743 shares during the last quarter. 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 during 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.