Torben Ostergaard Sells 3,022 Shares of Hippo Holdings Inc. (NYSE:HIPO) Stock

Hippo Holdings Inc. (NYSE:HIPO - Get Free Report) CEO Torben Ostergaard sold 3,022 shares of the firm's stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $25.77, for a total value of $77,876.94. Following the transaction, the chief executive officer now directly owns 98,288 shares in the company, valued at approximately $2,532,881.76. This represents a 2.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Torben Ostergaard also recently made the following trade(s):

• On Monday, December 23rd, Torben Ostergaard sold 3,022 shares of Hippo stock. The stock was sold at an average price of $25.91, for a total value of $78,300.02.
• On Tuesday, December 17th, Torben Ostergaard sold 2,092 shares of Hippo stock. The stock was sold at an average price of $26.46, for a total value of $55,354.32.

Hippo Price Performance

Shares of NYSE:HIPO traded down $1.67 during trading on Friday, hitting $24.49. The company had a trading volume of 197,776 shares, compared to its average volume of 144,696. The company has a fifty day simple moving average of $28.02 and a two-hundred day simple moving average of $21.51. Hippo Holdings Inc. has a one year low of $7.75 and a one year high of $34.24. The stock has a market cap of $596.58 million, a price-to-earnings ratio of -4.70 and a beta of 1.51.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on HIPO shares. Jefferies Financial Group reduced their target price on Hippo from $29.00 to $28.00 and set a "buy" rating on the stock in a research note on Wednesday, October 9th. JMP Securities lifted their price target on Hippo from $25.00 to $35.00 and gave the company a "market outperform" rating in a research report on Friday, November 22nd.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its stake in Hippo by 205.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 146,176 shares of the company's stock worth $2,467,000 after buying an additional 98,256 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Hippo during the 3rd quarter valued at about $864,000. Dimensional Fund Advisors LP purchased a new stake in Hippo during the 2nd quarter valued at about $629,000. State Street Corp grew its stake in Hippo by 10.5% during the 3rd quarter. State Street Corp now owns 377,537 shares of the company's stock valued at $6,373,000 after purchasing an additional 35,743 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Hippo by 99.2% during 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 purchasing an additional 30,418 shares during the last quarter. 43.01% of the stock is owned by institutional investors.

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.