Hippo (NYSE:HIPO) Trading 8.3% Higher – What’s Next?

Hippo Holdings Inc. (NYSE:HIPO) was up 8.3% during mid-day trading on Tuesday . The company traded as high as $29.87 and last traded at $29.55. Approximately 50,968 shares traded hands during trading, a decline of 61% from the average daily volume of 131,725 shares. The stock had previously closed at $27.28.

Analyst Ratings Changes

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

Hippo Price Performance

The business’s 50-day moving average is $27.73 and its two-hundred day moving average is $22.72. The firm has a market cap of $720.81 million, a P/E ratio of -5.68 and a beta of 1.52.

Insider Activity

In related news, CEO Torben Ostergaard sold 2,092 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $26.46, for a total transaction of $55,354.32. Following the sale, the chief executive officer now owns 104,332 shares of the company’s stock, valued at $2,760,624.72. This represents a 1.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Richard Mccathron sold 15,000 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $30.16, for a total transaction of $452,400.00. Following the sale, the chief executive officer now owns 339,623 shares in the company, valued at $10,243,029.68. The trade was a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 73,815 shares of company stock valued at $1,979,190 over the last three months. Insiders own 11.37% of the company’s stock.

Institutional Investors Weigh In On Hippo

Several institutional investors and hedge funds have recently added to or reduced their stakes in HIPO. Caz Investments LP lifted its holdings in shares of Hippo by 100.0% in the third quarter. Caz Investments LP now owns 5,600 shares of the company’s stock worth $95,000 after acquiring an additional 2,800 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Hippo in the 3rd quarter valued at $174,000. Public Employees Retirement System of Ohio bought a new stake in Hippo during the 3rd quarter worth $174,000. AQR Capital Management LLC acquired a new position in Hippo in the 2nd quarter worth about $194,000. Finally, Squarepoint Ops LLC bought a new position in Hippo in the second quarter valued at about $335,000. 43.01% of the stock is currently owned by institutional investors.

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.