Hippo Holdings Inc. (NYSE:HIPO - Get Free Report) shares traded up 8.3% during mid-day trading on Tuesday . The stock traded as high as $29.87 and last traded at $29.55. 50,968 shares traded hands during trading, a decline of 61% from the average session volume of 131,725 shares. The stock had previously closed at $27.28.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on HIPO. Jefferies Financial Group decreased their price target 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 target price on shares of Hippo from $25.00 to $35.00 and gave the stock a "market outperform" rating in a research note on Friday, November 22nd.
Read Our Latest Analysis on HIPO
Hippo Price Performance
The company has a market capitalization of $732.99 million, a P/E ratio of -5.78 and a beta of 1.52. The company has a 50 day moving average of $27.68 and a 200-day moving average of $22.80.
Insider Transactions at Hippo
In other Hippo news, CEO Richard Mccathron sold 15,000 shares of the company's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $30.16, for a total value of $452,400.00. Following the completion of the transaction, the chief executive officer now directly owns 339,623 shares in the company, valued at approximately $10,243,029.68. This represents a 4.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Torben Ostergaard sold 2,092 shares of Hippo stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $26.46, for a total transaction of $55,354.32. Following the sale, the chief executive officer now directly owns 104,332 shares in the company, valued at $2,760,624.72. The trade was a 1.97 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,815 shares of company stock worth $1,979,190. 11.37% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in HIPO. Geode Capital Management LLC grew its stake in Hippo by 6.3% in the third quarter. Geode Capital Management LLC now owns 442,261 shares of the company's stock worth $7,467,000 after purchasing an additional 26,085 shares during the period. State Street Corp grew its position in shares of Hippo by 10.5% in the 3rd quarter. State Street Corp now owns 377,537 shares of the company's stock worth $6,373,000 after buying an additional 35,743 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Hippo by 9.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 151,240 shares of the company's stock worth $2,553,000 after acquiring an additional 13,586 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Hippo by 205.0% during the 3rd 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. Finally, Ieq Capital LLC lifted its position in Hippo by 112.5% during the 4th quarter. Ieq Capital LLC now owns 107,086 shares of the company's stock valued at $2,867,000 after acquiring an additional 56,684 shares during the period. Hedge funds and other institutional investors own 43.01% of the company's stock.
About Hippo
(
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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.
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