Hippo (NYSE:HIPO) Hits New 52-Week High – Should You Buy?

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on HIPO shares. Jefferies Financial Group dropped their target price on Hippo from $29.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Keefe, Bruyette & Woods boosted their price target on shares of Hippo from $20.00 to $21.00 and gave the stock a “market perform” rating in a research note on Monday, August 19th.

Hippo Price Performance

The stock has a market cap of $780.98 million, a PE ratio of -6.15 and a beta of 1.26. The stock has a 50-day simple moving average of $20.43 and a 200-day simple moving average of $18.66.

Insider Activity

In other news, Chairman Assaf Wand sold 12,250 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was 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 directly owns 548,064 shares in the company, valued at approximately $8,873,156.16. The trade was a 2.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard Mccathron sold 10,000 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $25.55, for a total transaction of $255,500.00. Following the sale, the chief executive officer now owns 366,146 shares in the company, valued at approximately $9,355,030.30. This trade represents a 2.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,657 shares of company stock worth $538,171 over the last 90 days. Company insiders own 11.37% of the company’s stock.

Institutional Investors Weigh In On Hippo

Hedge funds and other institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its holdings in Hippo by 3.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,328 shares of the company’s stock worth $427,000 after buying an additional 801 shares during the period. Caz Investments LP lifted its position in shares of Hippo by 100.0% in the 3rd quarter. Caz Investments LP now owns 5,600 shares of the company’s stock valued at $95,000 after acquiring an additional 2,800 shares in the last quarter. American Century Companies Inc. boosted its stake in Hippo by 28.2% in the 2nd quarter. American Century Companies Inc. now owns 25,453 shares of the company’s stock worth $438,000 after purchasing an additional 5,592 shares during the period. SG Americas Securities LLC purchased a new position in Hippo during the 3rd quarter worth approximately $174,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Hippo in the third quarter valued at $174,000. 43.01% of the stock is currently owned by institutional investors.

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.