JPMorgan Chase & Co. Raises Stock Position in Hippo Holdings Inc. (NYSE:HIPO)

JPMorgan Chase & Co. increased its holdings in Hippo Holdings Inc. (NYSE:HIPO - Free Report) by 205.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 146,176 shares of the company's stock after purchasing an additional 98,256 shares during the period. JPMorgan Chase & Co. owned 0.60% of Hippo worth $2,467,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. purchased a new position in Hippo during the 3rd quarter valued at approximately $864,000. Dimensional Fund Advisors LP purchased a new position in shares of Hippo in the second quarter valued at $629,000. State Street Corp increased its position in Hippo by 10.5% in the third quarter. State Street Corp now owns 377,537 shares of the company's stock worth $6,373,000 after purchasing an additional 35,743 shares during the last quarter. Geode Capital Management LLC raised its stake in Hippo by 6.3% during the third quarter. Geode Capital Management LLC now owns 442,261 shares of the company's stock valued at $7,467,000 after purchasing an additional 26,085 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new position in Hippo during the second quarter valued at $335,000. 43.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on HIPO. JMP Securities lifted their price target 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. Jefferies Financial Group dropped their target price on Hippo from $29.00 to $28.00 and set a "buy" rating for the company in a research report on Wednesday, October 9th.

Insider Activity at Hippo

In other Hippo news, Chairman Assaf Wand sold 12,250 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $26.02, for a total transaction of $318,745.00. Following the transaction, the chairman now directly owns 511,314 shares in the company, valued at $13,304,390.28. This represents a 2.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Torben Ostergaard sold 2,092 shares of the business's 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 completion of the sale, the chief executive officer now owns 104,332 shares of the company's stock, valued at approximately $2,760,624.72. This represents a 1.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 70,793 shares of company stock worth $1,896,840 in the last 90 days. 11.37% of the stock is owned by corporate insiders.

Hippo Price Performance

Shares of NYSE:HIPO traded down $0.73 on Tuesday, hitting $26.58. 102,522 shares of the company's stock were exchanged, compared to its average volume of 127,252. The stock has a market capitalization of $647.37 million, a price-to-earnings ratio of -5.10 and a beta of 1.51. Hippo Holdings Inc. has a 12 month low of $8.37 and a 12 month high of $34.24. The business's 50 day simple moving average is $28.19 and its two-hundred day simple moving average is $22.10.

Hippo 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.