Hippo (NYSE:HIPO) Shares Down 4.1% Following Insider Selling

Hippo Holdings Inc. (NYSE:HIPO)’s stock price was down 4.1% during trading on Monday following insider selling activity. The company traded as low as $32.16 and last traded at $32.60. Approximately 40,083 shares traded hands during trading, a decline of 75% from the average daily volume of 159,776 shares. The stock had previously closed at $34.01.

Specifically, CEO Richard Mccathron sold 15,000 shares of the business’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 completion of the sale, the chief executive officer now directly owns 339,623 shares in the company, valued at approximately $10,243,029.68. The trade was a 4.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Analysts Set New Price Targets

HIPO has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lifted their target price on shares of Hippo from $20.00 to $21.00 and gave the stock a “market perform” rating in a research report on Monday, August 19th. Jefferies Financial Group lowered their target price on Hippo from $29.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Finally, JMP Securities increased their target price on Hippo from $25.00 to $35.00 and gave the company a “market outperform” rating in a report on Friday, November 22nd.

Hippo Stock Performance

The company’s 50-day simple moving average is $21.55 and its two-hundred day simple moving average is $19.07. The firm has a market cap of $801.69 million, a PE ratio of -6.27 and a beta of 1.26.

Hedge Funds Weigh In On Hippo

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