Hippo (NYSE:HIPO) Trading Down 7.1% – Here’s Why

Hippo Holdings Inc. (NYSE:HIPO) shares were down 7.1% during trading on Tuesday . The stock traded as low as $27.55 and last traded at $27.55. Approximately 48,676 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 155,032 shares. The stock had previously closed at $29.66.

Analyst Ratings Changes

Several research firms recently weighed in on HIPO. Jefferies Financial Group lowered their target price on Hippo from $29.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods boosted their price objective on Hippo from $20.00 to $21.00 and gave the stock a “market perform” rating in a research note on Monday, August 19th.

Hippo Trading Down 8.9 %

The company has a market capitalization of $673.34 million, a price-to-earnings ratio of -5.69 and a beta of 1.26. The firm has a 50-day simple moving average of $19.10 and a two-hundred day simple moving average of $18.30.

Insiders Place Their Bets

In other Hippo news, CAO Anirudh Badia sold 2,552 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $24.49, for a total value of $62,498.48. Following the sale, the chief accounting officer now owns 102,315 shares of the company’s stock, valued at $2,505,694.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CAO Anirudh Badia sold 2,552 shares of the company’s stock in a transaction on 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 owns 102,315 shares of the company’s stock, valued at approximately $2,505,694.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Yuval Harry sold 2,958 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $18.49, for a total value of $54,693.42. Following the completion of the transaction, the executive now directly owns 104,247 shares in the company, valued at $1,927,527.03. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,760 shares of company stock valued at $315,519 in the last ninety days. 11.37% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of HIPO. Price T Rowe Associates Inc. MD lifted its holdings in shares of Hippo by 3.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 23,328 shares of the company’s stock valued at $427,000 after purchasing an additional 801 shares in the last quarter. American Century Companies Inc. increased its position in Hippo by 28.2% in the 2nd quarter. American Century Companies Inc. now owns 25,453 shares of the company’s stock valued at $438,000 after acquiring an additional 5,592 shares during the period. SG Americas Securities LLC acquired a new position in Hippo in the third quarter valued at approximately $174,000. AQR Capital Management LLC purchased a new position in shares of Hippo during the second quarter valued at approximately $194,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Hippo by 9.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 151,240 shares of the company’s stock valued at $2,553,000 after buying an additional 13,586 shares during the last quarter. 43.01% of the stock is owned by institutional investors and hedge funds.

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.