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

Hippo Holdings Inc. (NYSE:HIPO)’s share price was down 4.1% during mid-day trading on Monday after an insider sold shares in the company. The stock 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 Hippo stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $30.16, for a total transaction of $452,400.00. Following the transaction, the chief executive officer now owns 339,623 shares in the company, valued at approximately $10,243,029.68. This trade represents a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. JMP Securities increased their price target on Hippo from $25.00 to $35.00 and gave the company a “market outperform” rating in a research report on Friday, November 22nd. Keefe, Bruyette & Woods increased their price objective on Hippo from $20.00 to $21.00 and gave the company a “market perform” rating in a report on Monday, August 19th. Finally, Jefferies Financial Group reduced their price objective on Hippo from $29.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th.

Hippo Stock Up 1.0 %

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

Hedge Funds Weigh In On Hippo

Several large investors have recently made changes to their positions in the business. Barclays PLC raised its holdings in shares of Hippo by 276.5% during the third quarter. Barclays PLC now owns 25,816 shares of the company’s stock worth $435,000 after acquiring an additional 18,960 shares in the last quarter. Geode Capital Management LLC increased 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 worth $7,467,000 after acquiring an additional 26,085 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Hippo during the third quarter valued at about $174,000. State Street Corp lifted its position 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 acquiring an additional 35,743 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Hippo during the third quarter worth $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.