Hippo (NYSE:HIPO) Reaches New 12-Month High – Still a Buy?

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on HIPO. Jefferies Financial Group dropped their price objective 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 raised their target price on Hippo from $20.00 to $21.00 and gave the stock a “market perform” rating in a research report on Monday, August 19th.

Hippo Price Performance

The company has a market cap of $780.98 million, a price-to-earnings ratio of -6.15 and a beta of 1.26. The business has a 50 day simple moving average of $20.43 and a 200 day simple moving average of $18.66.

Insider Transactions at Hippo

In other Hippo news, Chairman Assaf Wand sold 12,250 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $16.19, for a total transaction of $198,327.50. Following the transaction, the chairman now directly owns 548,064 shares in the company, valued at approximately $8,873,156.16. This represents a 2.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Richard Mccathron sold 10,000 shares of the business’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 transaction of $255,500.00. Following the sale, the chief executive officer now directly owns 366,146 shares of the company’s stock, valued at approximately $9,355,030.30. This trade represents a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,657 shares of company stock worth $538,171. Corporate insiders own 11.37% of the company’s stock.

Institutional Investors Weigh In On Hippo

Several large investors have recently bought and sold shares of HIPO. Barclays PLC grew its stake in Hippo by 276.5% in the third quarter. Barclays PLC now owns 25,816 shares of the company’s stock valued at $435,000 after acquiring an additional 18,960 shares during the period. Geode Capital Management LLC boosted its position in Hippo by 6.3% during the 3rd quarter. Geode Capital Management LLC now owns 442,261 shares of the company’s stock worth $7,467,000 after acquiring an additional 26,085 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Hippo during the 3rd quarter worth approximately $174,000. State Street Corp boosted its holdings in Hippo by 10.5% during the third 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 last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Hippo in the 3rd quarter valued at $864,000. 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.