Hippo (NYSE:HIPO) Reaches New 12-Month High – Time to Buy?

Hippo Holdings Inc. (NYSE:HIPO)’s stock price reached a new 52-week high during trading on Friday . The company traded as high as $35.44 and last traded at $30.14, with a volume of 946508 shares trading hands. The stock had previously closed at $29.59.

Analyst Upgrades and Downgrades

Separately, JMP Securities boosted their price target on shares of Hippo from $25.00 to $35.00 and gave the company a “market outperform” rating in a research report on Friday, November 22nd.

Hippo Stock Up 1.9 %

The stock’s 50-day moving average price is $27.93 and its 200-day moving average price is $24.49. The company has a market capitalization of $734.28 million, a price-to-earnings ratio of -5.79 and a beta of 1.50.

Insider Transactions at Hippo

In related news, CEO Torben Ostergaard sold 3,022 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $25.77, for a total value of $77,876.94. Following the transaction, the chief executive officer now directly owns 98,288 shares in the company, valued at $2,532,881.76. This represents a 2.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Stewart Ellis sold 12,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $25.91, for a total transaction of $310,920.00. Following the completion of the transaction, the chief financial officer now owns 328,215 shares in the company, valued at $8,504,050.65. This represents a 3.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 93,383 shares of company stock worth $2,574,135. Corporate insiders own 11.37% of the company’s stock.

Hedge Funds Weigh In On Hippo

Large investors have recently bought and sold shares of the business. Caz Investments LP lifted its holdings in Hippo by 100.0% in 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. BNP Paribas Financial Markets bought a new stake in Hippo in the fourth quarter valued at approximately $118,000. Public Employees Retirement System of Ohio bought a new stake in Hippo in the third quarter valued at approximately $174,000. The Manufacturers Life Insurance Company bought a new stake in Hippo in the fourth quarter valued at approximately $200,000. Finally, Two Sigma Advisers LP bought a new stake in Hippo in the fourth quarter valued at approximately $200,000. 43.01% of the stock is currently 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.