Hippo (NYSE:HIPO) Trading Down 6% – What’s Next?

Hippo Holdings Inc. (NYSE:HIPO) shares were down 6% during mid-day trading on Tuesday . The company traded as low as $26.30 and last traded at $26.53. Approximately 39,092 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 159,541 shares. The stock had previously closed at $28.22.

Analyst Upgrades and Downgrades

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

Hippo Stock Up 0.6 %

The business’s 50-day simple moving average is $25.50 and its 200-day simple moving average is $20.38. The stock has a market cap of $615.33 million, a PE ratio of -4.85 and a beta of 1.47.

Insider Activity

In other news, CAO Anirudh Badia sold 2,552 shares of Hippo stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $24.49, for a total transaction of $62,498.48. Following the completion of the transaction, the chief accounting officer now directly owns 102,315 shares in the company, valued at approximately $2,505,694.35. This trade represents a 2.43 % decrease in their ownership of the stock. The transaction 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 firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $30.16, for a total value of $452,400.00. Following the transaction, the chief executive officer now directly owns 339,623 shares of the company’s stock, valued at approximately $10,243,029.68. This trade represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,657 shares of company stock valued at $990,571. Company insiders own 11.37% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of HIPO. Jacobs Levy Equity Management Inc. purchased a new stake in Hippo during the third quarter valued at $864,000. Dimensional Fund Advisors LP purchased a new stake in shares of Hippo during the 2nd quarter valued at about $629,000. State Street Corp lifted its stake in shares of Hippo by 10.5% in the 3rd 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 period. Bank of New York Mellon Corp boosted its holdings in shares of Hippo by 99.2% in the second quarter. Bank of New York Mellon Corp now owns 61,089 shares of the company’s stock worth $1,050,000 after buying an additional 30,418 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Hippo by 6.3% during the third quarter. Geode Capital Management LLC now owns 442,261 shares of the company’s stock valued at $7,467,000 after buying an additional 26,085 shares during the period. Hedge funds and other institutional investors own 43.01% of the company’s stock.

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.