Hippo (NYSE:HIPO) Trading Up 8.3% – What’s Next?

Hippo Holdings Inc. (NYSE:HIPO)’s share price was up 8.3% during mid-day trading on Tuesday . The company traded as high as $29.87 and last traded at $29.55. Approximately 50,968 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 131,725 shares. The stock had previously closed at $27.28.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on HIPO shares. Jefferies Financial Group cut their price objective on shares of Hippo from $29.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. JMP Securities upped their price objective on shares of Hippo from $25.00 to $35.00 and gave the company a “market outperform” rating in a research note on Friday, November 22nd.

Hippo Trading Up 0.9 %

The stock’s fifty day moving average is $27.64 and its 200 day moving average is $22.86. The company has a market capitalization of $757.86 million, a P/E ratio of -6.00 and a beta of 1.52.

Insider Activity at Hippo

In other Hippo news, CEO Torben Ostergaard sold 2,092 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $26.46, for a total value of $55,354.32. Following the completion of the transaction, the chief executive officer now directly owns 104,332 shares in the company, valued at approximately $2,760,624.72. This represents a 1.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard Mccathron sold 15,000 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $30.16, for a total transaction of $452,400.00. Following the completion of the transaction, the chief executive officer now owns 339,623 shares of the company’s stock, valued at $10,243,029.68. This trade represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 83,513 shares of company stock worth $2,244,501 in the last three months. 11.37% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP purchased a new stake in Hippo during the 2nd quarter valued at about $629,000. Squarepoint Ops LLC purchased a new stake in Hippo during the 2nd quarter valued at about $335,000. AQR Capital Management LLC purchased a new stake in Hippo during the 2nd quarter valued at about $194,000. SG Americas Securities LLC purchased a new stake in Hippo during the 3rd quarter valued at about $174,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Hippo by 37.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,924 shares of the company’s stock valued at $1,113,000 after purchasing an additional 17,978 shares during the last quarter. 43.01% of the stock is currently owned by institutional investors.

Hippo Company Profile

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.