HighTower Advisors LLC Sells 54,104 Shares of Hippo Holdings Inc. (NYSE:HIPO)

HighTower Advisors LLC lessened its holdings in Hippo Holdings Inc. (NYSE:HIPO - Free Report) by 83.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,557 shares of the company's stock after selling 54,104 shares during the quarter. HighTower Advisors LLC's holdings in Hippo were worth $283,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its stake in shares of Hippo by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 152,664 shares of the company's stock valued at $4,087,000 after purchasing an additional 1,424 shares during the period. Bank of New York Mellon Corp grew its position in Hippo by 6.4% in the fourth quarter. Bank of New York Mellon Corp now owns 48,311 shares of the company's stock valued at $1,293,000 after acquiring an additional 2,910 shares during the period. Ieq Capital LLC raised its stake in Hippo by 112.5% during the fourth quarter. Ieq Capital LLC now owns 107,086 shares of the company's stock worth $2,867,000 after acquiring an additional 56,684 shares in the last quarter. SG Americas Securities LLC raised its stake in Hippo by 33.2% during the fourth quarter. SG Americas Securities LLC now owns 13,691 shares of the company's stock worth $367,000 after acquiring an additional 3,412 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Hippo by 205.0% during the third quarter. JPMorgan Chase & Co. now owns 146,176 shares of the company's stock valued at $2,467,000 after acquiring an additional 98,256 shares during the period. Institutional investors and hedge funds own 43.01% of the company's stock.

Insider Activity at Hippo

In other news, CEO Torben Ostergaard sold 3,022 shares of the stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $27.25, for a total transaction of $82,349.50. Following the sale, the chief executive officer now owns 95,266 shares in the company, valued at approximately $2,595,998.50. This represents a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Stienstra sold 2,329 shares of Hippo stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $30.02, for a total value of $69,916.58. Following the completion of the transaction, the insider now directly owns 59,648 shares of the company's stock, valued at $1,790,632.96. This represents a 3.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,019 shares of company stock valued at $1,547,415 in the last three months. Corporate insiders own 11.37% of the company's stock.

Hippo Price Performance

Shares of HIPO traded down $0.08 during trading hours on Monday, hitting $22.63. The stock had a trading volume of 268,849 shares, compared to its average volume of 163,298. The stock has a market capitalization of $567.71 million, a price-to-earnings ratio of -4.34 and a beta of 1.49. The company's fifty day moving average is $27.88 and its two-hundred day moving average is $25.72. Hippo Holdings Inc. has a 52 week low of $14.58 and a 52 week high of $35.44.

Hippo (NYSE:HIPO - Get Free Report) last issued its quarterly earnings data on Wednesday, March 5th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.08. Hippo had a negative net margin of 37.94% and a negative return on equity of 36.38%. The firm had revenue of $102.00 million for the quarter, compared to analysts' expectations of $97.83 million. Equities analysts predict that Hippo Holdings Inc. will post -3.63 EPS for the current fiscal year.

Hippo 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.