Hippo (NYSE:HIPO) Shares Down 6% - Time to Sell?

Hippo Holdings Inc. (NYSE:HIPO - Get Free Report) shares fell 6% during trading on Tuesday . The stock traded as low as $26.30 and last traded at $26.53. 39,092 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 159,541 shares. The stock had previously closed at $28.22.

Analyst Ratings Changes

A number of analysts have recently issued reports on HIPO shares. Keefe, Bruyette & Woods boosted their price objective on Hippo from $20.00 to $21.00 and gave the company a "market perform" rating in a research report on Monday, August 19th. Jefferies Financial Group lowered their price target on shares of Hippo from $29.00 to $28.00 and set a "buy" rating on the stock in a report on Wednesday, October 9th. Finally, JMP Securities raised their price objective 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.

Hippo Stock Down 6.8 %

The stock has a fifty day moving average price of $25.34 and a two-hundred day moving average price of $20.34. The company has a market cap of $640.42 million, a price-to-earnings ratio of -5.05 and a beta of 1.47.

Insider Transactions at Hippo

In other Hippo news, CEO Richard Mccathron sold 15,000 shares of the business's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $30.16, for a total transaction of $452,400.00. Following the sale, the chief executive officer now directly owns 339,623 shares of the company's stock, valued at $10,243,029.68. The trade was a 4.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Anirudh Badia sold 2,552 shares of Hippo stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $24.49, for a total value of $62,498.48. Following the transaction, the chief accounting officer now directly owns 102,315 shares in the company, valued at $2,505,694.35. The trade was a 2.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,657 shares of company stock valued at $990,571. Corporate insiders own 11.37% of the company's stock.

Hedge Funds Weigh In On Hippo

A number of hedge funds have recently added to or reduced their stakes in HIPO. Geode Capital Management LLC lifted its position in shares of Hippo by 6.3% during the 3rd quarter. Geode Capital Management LLC now owns 442,261 shares of the company's stock valued at $7,467,000 after buying an additional 26,085 shares during the last quarter. State Street Corp lifted its holdings in Hippo by 10.5% during the third 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. Charles Schwab Investment Management Inc. boosted its position in Hippo by 9.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 151,240 shares of the company's stock worth $2,553,000 after purchasing an additional 13,586 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Hippo by 37.5% in 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. Finally, Bank of New York Mellon Corp raised its position in shares of Hippo by 99.2% in the second 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 period. Institutional investors and hedge funds own 43.01% of the company's stock.

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.