Hippo Holdings Inc. (NYSE:HIPO) CEO Sells $55,354.32 in Stock

Hippo Holdings Inc. (NYSE:HIPO) CEO Torben Ostergaard sold 2,092 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $26.46, for a total value of $55,354.32. Following the sale, the chief executive officer now owns 104,332 shares in the company, valued at approximately $2,760,624.72. This represents a 1.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Hippo Stock Up 0.6 %

Shares of HIPO stock traded up $0.16 during trading on Thursday, hitting $25.26. The company had a trading volume of 145,363 shares, compared to its average volume of 160,753. Hippo Holdings Inc. has a 52 week low of $7.75 and a 52 week high of $34.24. The stock has a market capitalization of $615.33 million, a price-to-earnings ratio of -4.85 and a beta of 1.47. The stock’s 50-day moving average is $25.50 and its two-hundred day moving average is $20.38.

Hedge Funds Weigh In On Hippo

A number of institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP purchased a new position in shares of Hippo during the 2nd quarter valued at about $629,000. Bank of New York Mellon Corp grew its position in Hippo by 99.2% during the second quarter. Bank of New York Mellon Corp now owns 61,089 shares of the company’s stock valued at $1,050,000 after acquiring an additional 30,418 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Hippo by 37.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,924 shares of the company’s stock worth $1,113,000 after acquiring an additional 17,978 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Hippo in the 3rd quarter worth approximately $174,000. Finally, AQR Capital Management LLC purchased a new stake in shares of Hippo in the 2nd quarter valued at $194,000. Institutional investors own 43.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on HIPO. Jefferies Financial Group lowered their target price on shares of Hippo from $29.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. JMP Securities increased their price objective on Hippo from $25.00 to $35.00 and gave the stock a “market outperform” rating in a research report on Friday, November 22nd.

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.