Hippo (NYSE:HIPO) Hits New 1-Year High - Here's What Happened

Hippo Holdings Inc. (NYSE:HIPO - Get Free Report) shares hit a new 52-week high during trading on Friday . The company traded as high as $27.89 and last traded at $27.89, with a volume of 4471 shares changing hands. The stock had previously closed at $23.62.

Analysts Set New Price Targets

Several research analysts have recently weighed in on HIPO shares. Jefferies Financial Group lowered their price objective on Hippo from $29.00 to $28.00 and set a "buy" rating for the company in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods boosted their price target on Hippo from $20.00 to $21.00 and gave the company a "market perform" rating in a research note on Monday, August 19th.

Hippo Trading Up 19.2 %

The stock's 50-day moving average price is $18.74 and its two-hundred day moving average price is $18.22. The stock has a market capitalization of $701.50 million, a P/E ratio of -3.77 and a beta of 1.26.

Hippo (NYSE:HIPO - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($1.64) earnings per share for the quarter, missing analysts' consensus estimates of ($1.48) by ($0.16). The business had revenue of $89.60 million during the quarter, compared to the consensus estimate of $85.40 million. Hippo had a negative return on equity of 46.46% and a negative net margin of 57.80%. During the same quarter in the previous year, the firm posted ($4.61) earnings per share. On average, equities research analysts predict that Hippo Holdings Inc. will post -4.6 earnings per share for the current year.

Insider Buying and Selling

In other Hippo news, CRO Yuval Harry sold 1,419 shares of the company's stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $18.14, for a total value of $25,740.66. Following the completion of the sale, the executive now owns 121,753 shares in the company, valued at $2,208,599.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Chairman Assaf Wand sold 12,250 shares of the business's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $16.19, for a total value of $198,327.50. Following the completion of the sale, the chairman now owns 548,064 shares in the company, valued at approximately $8,873,156.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Yuval Harry sold 1,419 shares of the firm's stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $18.14, for a total transaction of $25,740.66. Following the completion of the sale, the executive now owns 121,753 shares of the company's stock, valued at approximately $2,208,599.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,179 shares of company stock worth $341,260. 11.37% of the stock is owned by insiders.

Institutional Investors Weigh In On Hippo

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Hippo by 6.3% during the 1st quarter. Vanguard Group Inc. now owns 759,254 shares of the company's stock worth $13,872,000 after buying an additional 45,058 shares during the last quarter. Hood River Capital Management LLC increased its position in shares of Hippo by 79.4% during the first quarter. Hood River Capital Management LLC now owns 326,343 shares of the company's stock worth $5,962,000 after acquiring an additional 144,459 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Hippo by 37.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,924 shares of the company's stock worth $1,113,000 after purchasing an additional 17,978 shares in the last quarter. Bank of New York Mellon Corp raised its holdings 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 worth $1,050,000 after purchasing an additional 30,418 shares in the last quarter. Finally, Dimensional Fund Advisors LP acquired a new position in shares of Hippo in the 2nd quarter valued at $629,000. 43.01% of the stock is owned by hedge funds and other 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.