Hippo (NYSE:HIPO) Stock Price Down 5.7% – Should You Sell?

Hippo Holdings Inc. (NYSE:HIPO)’s share price was down 5.7% on Monday . The stock traded as low as $30.90 and last traded at $31.15. Approximately 112,723 shares were traded during trading, a decline of 30% from the average daily volume of 160,098 shares. The stock had previously closed at $33.04.

Analysts Set New Price Targets

HIPO has been the topic of a number of recent analyst reports. Jefferies Financial Group cut their target price on Hippo from $29.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. JMP Securities increased their price target on Hippo from $25.00 to $35.00 and gave the stock a “market outperform” rating in a research report on Friday, November 22nd. Finally, Keefe, Bruyette & Woods boosted their price objective on Hippo from $20.00 to $21.00 and gave the company a “market perform” rating in a research report on Monday, August 19th.

Hippo Stock Performance

The business’s 50 day simple moving average is $22.46 and its 200-day simple moving average is $19.38. The stock has a market capitalization of $759.06 million, a price-to-earnings ratio of -6.06 and a beta of 1.26.

Insider Transactions at Hippo

In related news, Chairman Assaf Wand sold 12,250 shares of the firm’s stock in a transaction that occurred on 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 owns 548,064 shares in the company, valued at $8,873,156.16. This trade represents a 2.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Anirudh Badia sold 2,552 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $24.49, for a total value of $62,498.48. Following the completion of the sale, the chief accounting officer now owns 102,315 shares of the company’s stock, valued at $2,505,694.35. This trade represents a 2.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,657 shares of company stock worth $990,571. Company insiders own 11.37% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. bought a new stake in shares of Hippo during the 3rd quarter worth $864,000. Vanguard Group Inc. lifted its holdings in shares of Hippo by 6.3% during the first quarter. Vanguard Group Inc. now owns 759,254 shares of the company’s stock valued at $13,872,000 after purchasing an additional 45,058 shares during the last quarter. Dimensional Fund Advisors LP purchased a new position in Hippo in the 2nd quarter worth about $629,000. State Street Corp increased its stake in 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 purchasing an additional 35,743 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake 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 buying an additional 30,418 shares in the last quarter. 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.