JPMorgan Chase & Co. Buys 67,608 Shares of Hippo Holdings Inc. (NYSE:HIPO)

JPMorgan Chase & Co. grew its stake in Hippo Holdings Inc. (NYSE:HIPO - Free Report) by 46.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 213,784 shares of the company's stock after purchasing an additional 67,608 shares during the period. JPMorgan Chase & Co. owned approximately 0.88% of Hippo worth $5,723,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Hippo by 10.5% in the 4th quarter. Vanguard Group Inc. now owns 1,020,249 shares of the company's stock valued at $27,312,000 after purchasing an additional 96,959 shares during the period. Geode Capital Management LLC grew its stake in shares of Hippo by 6.3% in the 3rd 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 during the period. State Street Corp grew its stake in shares of Hippo by 10.5% in the 3rd 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 period. Charles Schwab Investment Management Inc. grew its stake in shares of Hippo by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 152,664 shares of the company's stock valued at $4,087,000 after purchasing an additional 1,424 shares during the period. Finally, Prudential Financial Inc. acquired a new position in shares of Hippo in the 4th quarter worth approximately $3,369,000. 43.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on HIPO. Jefferies Financial Group cut their price objective on Hippo from $43.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Keefe, Bruyette & Woods raised their target price on Hippo from $24.00 to $26.00 and gave the company a "market perform" rating in a research note on Tuesday.

Insider Buying and Selling

In related news, insider Michael Stienstra sold 2,329 shares of Hippo stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $30.02, for a total value of $69,916.58. Following the completion of the sale, the insider now directly owns 59,648 shares in the company, valued at $1,790,632.96. This trade represents a 3.76 % decrease in their ownership of the stock. 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 21,146 shares of Hippo stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $30.05, for a total value of $635,437.30. Following the completion of the sale, the chief executive officer now owns 74,120 shares of the company's stock, valued at approximately $2,227,306. The trade was a 22.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,997 shares of company stock worth $1,469,538 over the last three months. 11.37% of the stock is currently owned by company insiders.

Hippo Price Performance

Shares of NYSE:HIPO traded up $0.23 during midday trading on Wednesday, reaching $24.76. The company's stock had a trading volume of 9,420 shares, compared to its average volume of 164,628. Hippo Holdings Inc. has a fifty-two week low of $14.58 and a fifty-two week high of $35.44. The company has a market capitalization of $621.03 million, a P/E ratio of -4.75 and a beta of 1.49. The business's fifty day simple moving average is $26.31 and its 200-day simple moving average is $26.15.

Hippo (NYSE:HIPO - Get Free Report) last announced its earnings results on Wednesday, March 5th. The company reported ($0.07) earnings per share for the quarter, beating analysts' consensus estimates of ($0.15) by $0.08. Hippo had a negative return on equity of 36.38% and a negative net margin of 37.94%. The company had revenue of $102.00 million during the quarter, compared to analyst estimates of $97.83 million. On average, analysts forecast that Hippo Holdings Inc. will post -3.63 earnings per share for the current fiscal year.

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.