Assaf Wand Sells 12,250 Shares of Hippo Holdings Inc. (NYSE:HIPO) Stock

Hippo Holdings Inc. (NYSE:HIPO) Chairman Assaf Wand sold 12,250 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $26.02, for a total transaction of $318,745.00. Following the completion of the transaction, the chairman now owns 511,314 shares in the company, valued at approximately $13,304,390.28. This trade represents a 2.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Hippo Stock Up 4.5 %

Shares of NYSE:HIPO opened at $26.80 on Friday. Hippo Holdings Inc. has a 12-month low of $7.75 and a 12-month high of $34.24. The company’s 50 day moving average price is $27.44 and its two-hundred day moving average price is $21.19. The firm has a market cap of $652.85 million, a PE ratio of -5.14 and a beta of 1.47.

Analyst Upgrades and Downgrades

HIPO has been the topic of several research reports. JMP Securities upped their target price on Hippo from $25.00 to $35.00 and gave the company a “market outperform” rating in a research report on Friday, November 22nd. Jefferies Financial Group lowered their price objective on Hippo from $29.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th.

Institutional Investors Weigh In On Hippo

A number of large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its position in shares of Hippo by 99.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 61,089 shares of the company’s stock valued at $1,050,000 after buying an additional 30,418 shares in the last quarter. Rhumbline Advisers lifted its stake in Hippo by 93.7% during the second quarter. Rhumbline Advisers now owns 28,738 shares of the company’s stock worth $494,000 after purchasing an additional 13,899 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Hippo by 28.2% in the 2nd quarter. American Century Companies Inc. now owns 25,453 shares of the company’s stock valued at $438,000 after purchasing an additional 5,592 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in shares of Hippo in the 2nd quarter valued at $629,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Hippo during the 2nd quarter worth $335,000. Institutional investors and hedge funds own 43.01% of the company’s stock.

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.