Hippo (NYSE:HIPO) Shares Down 4.9% - Time to Sell?

Hippo Holdings Inc. (NYSE:HIPO - Get Free Report) was down 4.9% on Thursday . The company traded as low as $25.26 and last traded at $25.46. Approximately 82,196 shares changed hands during trading, a decline of 49% from the average daily volume of 162,303 shares. The stock had previously closed at $26.77.

Analyst Ratings Changes

HIPO has been the topic of several recent analyst reports. JMP Securities boosted their target price on shares of Hippo from $25.00 to $35.00 and gave the company a "market outperform" rating in a report on Friday, November 22nd. Jefferies Financial Group dropped their price objective on Hippo from $29.00 to $28.00 and set a "buy" rating on the stock in a research note on Wednesday, October 9th.

Hippo Trading Down 4.2 %

The company has a market cap of $624.59 million, a price-to-earnings ratio of -4.92 and a beta of 1.47. The stock's 50-day moving average is $27.13 and its 200-day moving average is $21.04.

Insider Activity

In other Hippo news, CEO Torben Ostergaard sold 2,092 shares of the firm's stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $26.46, for a total value of $55,354.32. Following the transaction, the chief executive officer now directly owns 104,332 shares of the company's stock, valued at approximately $2,760,624.72. This trade represents a 1.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Anirudh Badia sold 2,552 shares of the business's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $24.49, for a total transaction of $62,498.48. Following the sale, the chief accounting officer now directly owns 102,315 shares of the company's stock, valued at approximately $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. Over the last 90 days, insiders have sold 45,521 shares of company stock worth $1,236,818. Company insiders own 11.37% of the company's stock.

Institutional Investors Weigh In On Hippo

Several institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its stake in shares of Hippo by 99.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 61,089 shares of the company's stock worth $1,050,000 after buying an additional 30,418 shares during the last quarter. Rhumbline Advisers boosted its position in Hippo by 93.7% in the second quarter. Rhumbline Advisers now owns 28,738 shares of the company's stock worth $494,000 after purchasing an additional 13,899 shares during the last quarter. American Century Companies Inc. boosted its position in Hippo by 28.2% in the second quarter. American Century Companies Inc. now owns 25,453 shares of the company's stock worth $438,000 after purchasing an additional 5,592 shares during the last quarter. Dimensional Fund Advisors LP purchased a new stake in shares of Hippo during the 2nd quarter valued at $629,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Hippo during the 2nd quarter worth $335,000. Institutional investors own 43.01% of the company's stock.

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.