Hippo (NYSE:HIPO) Stock Price Down 8.1% – Here’s Why

Hippo Holdings Inc. (NYSE:HIPO) fell 8.1% during mid-day trading on Friday . The company traded as low as $19.83 and last traded at $20.37. 33,669 shares were traded during mid-day trading, a decline of 78% from the average session volume of 149,832 shares. The stock had previously closed at $22.17.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Jefferies Financial Group dropped their price target on shares of Hippo from $29.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods raised their target price on Hippo from $20.00 to $21.00 and gave the company a “market perform” rating in a report on Monday, August 19th.

Hippo Trading Down 6.0 %

The firm has a 50-day moving average of $18.44 and a two-hundred day moving average of $18.14. The firm has a market cap of $519.33 million, a price-to-earnings ratio of -2.96 and a beta of 1.34.

Hippo (NYSE:HIPO) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($1.64) earnings per share for the quarter, missing the consensus estimate of ($1.48) by ($0.16). Hippo had a negative net margin of 57.80% and a negative return on equity of 46.46%. The business had revenue of $89.60 million during the quarter, compared to the consensus estimate of $85.40 million. During the same period in the prior year, the company posted ($4.61) earnings per share. As a group, equities analysts anticipate that Hippo Holdings Inc. will post -4.6 EPS for the current year.

Insider Activity at Hippo

In other Hippo news, Chairman Assaf Wand sold 12,250 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $16.19, for a total value of $198,327.50. Following the completion of the transaction, the chairman now owns 548,064 shares of the company’s stock, valued at $8,873,156.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Hippo news, Chairman Assaf Wand sold 12,250 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $16.19, for a total value of $198,327.50. Following the sale, the chairman now owns 548,064 shares of the company’s stock, valued at $8,873,156.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CRO Yuval Harry sold 1,419 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $18.14, for a total transaction of $25,740.66. Following the completion of the transaction, the executive now owns 121,753 shares of the company’s stock, valued at approximately $2,208,599.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,627 shares of company stock worth $278,762. Company insiders own 11.37% of the company’s stock.

Institutional Investors Weigh In On Hippo

Large investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new stake in shares of Hippo in the 3rd quarter valued at $174,000. AQR Capital Management LLC acquired a new position in Hippo in the second quarter valued at about $194,000. Squarepoint Ops LLC bought a new stake in Hippo during the second quarter worth about $335,000. Dimensional Fund Advisors LP acquired a new stake in shares of Hippo during the second quarter worth approximately $629,000. Finally, American Century Companies Inc. raised its stake in shares of Hippo by 28.2% in the second 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 last quarter. 43.01% of the stock is currently owned by institutional investors.

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.