Hippo (NYSE:HIPO) Trading Down 6.8% – Should You Sell?

Hippo Holdings Inc. (NYSE:HIPO)’s share price fell 6.8% during mid-day trading on Tuesday . The stock traded as low as $25.89 and last traded at $25.93. 54,510 shares traded hands during trading, a decline of 69% from the average session volume of 175,177 shares. The stock had previously closed at $27.84.

Analysts Set New Price Targets

Separately, JMP Securities lifted their target price on shares of Hippo from $25.00 to $35.00 and gave the stock a “market outperform” rating in a research note on Friday, November 22nd.

Hippo Stock Performance

The stock has a market cap of $658.40 million, a price-to-earnings ratio of -5.04 and a beta of 1.50. The business’s fifty day simple moving average is $28.09 and its 200 day simple moving average is $25.03.

Hippo (NYSE:HIPO) last issued its earnings results on Wednesday, March 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.08. Hippo had a negative net margin of 37.94% and a negative return on equity of 36.38%. The business had revenue of $102.00 million for the quarter, compared to analyst estimates of $97.83 million. As a group, analysts forecast that Hippo Holdings Inc. will post -3.63 EPS for the current fiscal year.

Insider Activity at Hippo

In other Hippo news, Chairman Assaf Wand sold 12,250 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $28.90, for a total transaction of $354,025.00. Following the completion of the transaction, the chairman now owns 486,814 shares of the company’s stock, valued at $14,068,924.60. The trade was a 2.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Torben Ostergaard sold 3,022 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $25.77, for a total transaction of $77,876.94. Following the completion of the sale, the chief executive officer now directly owns 98,288 shares in the company, valued at approximately $2,532,881.76. The trade was a 2.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,291 shares of company stock valued at $2,207,860 over the last ninety days. Insiders own 11.37% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in HIPO. Barclays PLC lifted its stake in shares of Hippo by 276.5% during the 3rd quarter. Barclays PLC now owns 25,816 shares of the company’s stock worth $435,000 after buying an additional 18,960 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Hippo by 205.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 146,176 shares of the company’s stock valued at $2,467,000 after buying an additional 98,256 shares in the last quarter. Geode Capital Management LLC grew its holdings in Hippo by 6.3% during the 3rd quarter. Geode Capital Management LLC now owns 442,261 shares of the company’s stock worth $7,467,000 after acquiring an additional 26,085 shares during the last quarter. Ieq Capital LLC lifted its position in shares of Hippo by 112.5% in the 4th quarter. Ieq Capital LLC now owns 107,086 shares of the company’s stock worth $2,867,000 after purchasing an additional 56,684 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of 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 acquiring an additional 17,978 shares during the period. Institutional investors 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.