Hippo (NYSE:HIPO) Reaches New 12-Month High – Time to Buy?

Hippo Holdings Inc. (NYSE:HIPO)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $35.44 and last traded at $30.14, with a volume of 946508 shares changing hands. The stock had previously closed at $29.59.

Analysts Set New Price Targets

Separately, JMP Securities upped their target price on shares of Hippo from $25.00 to $35.00 and gave the company a “market outperform” rating in a research note on Friday, November 22nd.

Hippo Price Performance

The company’s 50-day moving average price is $27.93 and its 200-day moving average price is $24.49. The company has a market cap of $734.28 million, a P/E ratio of -5.79 and a beta of 1.50.

Insider Transactions at Hippo

In related news, Chairman Assaf Wand sold 12,250 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $26.02, for a total value of $318,745.00. Following the completion of the transaction, the chairman now owns 511,314 shares of the company’s stock, valued at approximately $13,304,390.28. This trade represents a 2.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $55,354.32. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders sold 93,383 shares of company stock valued at $2,574,135 over the last quarter. Corporate insiders own 11.37% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in HIPO. Renaissance Technologies LLC grew its position in Hippo by 90.8% in the fourth quarter. Renaissance Technologies LLC now owns 268,320 shares of the company’s stock valued at $7,183,000 after purchasing an additional 127,716 shares in the last quarter. Prudential Financial Inc. bought a new position in Hippo in the fourth quarter valued at $3,369,000. Dimensional Fund Advisors LP lifted its stake in Hippo by 96.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 228,137 shares of the company’s stock valued at $6,107,000 after acquiring an additional 112,108 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Hippo by 205.0% in the third 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 last quarter. Finally, Vanguard Group Inc. lifted its stake in Hippo by 10.5% in the fourth quarter. Vanguard Group Inc. now owns 1,020,249 shares of the company’s stock valued at $27,312,000 after acquiring an additional 96,959 shares during the last quarter. Institutional investors own 43.01% of the company’s stock.

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.