Hippo (NYSE:HIPO) Trading Down 4.1% – Here’s What Happened

Hippo Holdings Inc. (NYSE:HIPO) fell 4.1% on Monday . The stock traded as low as $32.16 and last traded at $32.60. 40,083 shares traded hands during trading, a decline of 75% from the average session volume of 159,776 shares. The stock had previously closed at $34.01.

Wall Street Analyst Weigh In

HIPO has been the subject of a number of research analyst reports. JMP Securities upped their price target on Hippo from $25.00 to $35.00 and gave the company a “market outperform” rating in a report on Friday. Jefferies Financial Group lowered their target price on shares of Hippo from $29.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods lifted 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 Stock Performance

The business has a 50 day moving average of $20.98 and a 200-day moving average of $18.86.

Insider Transactions at Hippo

In other Hippo news, Chairman Assaf Wand sold 12,250 shares of the company’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 transaction of $198,327.50. Following the completion of the sale, the chairman now directly owns 548,064 shares of the company’s stock, valued at $8,873,156.16. This represents a 2.19 % 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 Richard Mccathron sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $25.55, for a total value of $255,500.00. Following the sale, the chief executive officer now owns 366,146 shares of the company’s stock, valued at $9,355,030.30. This trade represents a 2.66 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,657 shares of company stock worth $538,171. Insiders own 11.37% of the company’s stock.

Institutional Trading of Hippo

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Hippo by 6.3% in the 1st quarter. Vanguard Group Inc. now owns 759,254 shares of the company’s stock valued at $13,872,000 after purchasing an additional 45,058 shares in the last quarter. PEAK6 Investments LLC purchased a new position in Hippo in the first quarter valued at about $277,000. Price T Rowe Associates Inc. MD lifted its position in shares of Hippo by 3.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,328 shares of the company’s stock valued at $427,000 after acquiring an additional 801 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Hippo by 99.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 61,089 shares of the company’s stock worth $1,050,000 after acquiring an additional 30,418 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Hippo by 93.7% in the 2nd quarter. Rhumbline Advisers now owns 28,738 shares of the company’s stock worth $494,000 after acquiring an additional 13,899 shares during the period. 43.01% of the stock is owned by institutional investors and hedge funds.

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.