Geode Capital Management LLC Purchases 26,085 Shares of Hippo Holdings Inc. (NYSE:HIPO)

Geode Capital Management LLC increased its stake in shares of Hippo Holdings Inc. (NYSE:HIPO - Free Report) by 6.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 442,261 shares of the company's stock after acquiring an additional 26,085 shares during the quarter. Geode Capital Management LLC owned approximately 1.77% of Hippo worth $7,467,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Caz Investments LP increased its stake in Hippo by 100.0% in the 3rd 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 last quarter. SG Americas Securities LLC purchased a new stake in Hippo during the third quarter worth about $174,000. Public Employees Retirement System of Ohio bought a new stake in Hippo in the third quarter worth about $174,000. AQR Capital Management LLC purchased a new position in Hippo in the second quarter valued at about $194,000. Finally, Squarepoint Ops LLC purchased a new position in Hippo in the second quarter valued at about $335,000. 43.01% of the stock is owned by institutional investors.

Hippo Trading Up 4.5 %

Shares of NYSE:HIPO traded up $1.16 on Friday, reaching $26.80. 97,283 shares of the company traded hands, compared to its average volume of 112,841. Hippo Holdings Inc. has a 52 week low of $7.75 and a 52 week high of $34.24. The business's 50-day simple moving average is $27.27 and its 200 day simple moving average is $21.07. The stock has a market capitalization of $652.85 million, a P/E ratio of -5.14 and a beta of 1.47.

Wall Street Analysts Forecast Growth

Several research analysts have commented on HIPO shares. Jefferies Financial Group cut their price target on shares of Hippo from $29.00 to $28.00 and set a "buy" rating for the company in a report on Wednesday, October 9th. JMP Securities upped their target price on shares of Hippo from $25.00 to $35.00 and gave the stock a "market outperform" rating in a research report on Friday, November 22nd.

Insider Buying and Selling

In related news, Chairman Assaf Wand sold 12,250 shares of the firm's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $26.02, for a total value of $318,745.00. Following the completion of the sale, the chairman now owns 511,314 shares of the company's stock, valued at $13,304,390.28. This trade represents a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Anirudh Badia sold 2,552 shares of the company's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $24.49, for a total transaction of $62,498.48. Following the completion of the transaction, 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. Insiders have sold a total of 67,771 shares of company stock worth $1,818,963 in the last ninety days. 11.37% of the stock is owned by insiders.

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.