Hippo (NYSE:HIPO) Trading Down 4.1% on Insider Selling

Hippo Holdings Inc. (NYSE:HIPO) traded down 4.1% on Monday after an insider sold shares in the company. The stock traded as low as $32.16 and last traded at $32.60. 40,083 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 159,776 shares. The stock had previously closed at $34.01.

Specifically, CEO Richard Mccathron sold 15,000 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $30.16, for a total transaction of $452,400.00. Following the transaction, the chief executive officer now owns 339,623 shares of the company’s stock, valued at approximately $10,243,029.68. This represents a 4.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

Several equities research analysts have commented on HIPO shares. Keefe, Bruyette & Woods upped their target price on shares of Hippo from $20.00 to $21.00 and gave the company a “market perform” rating in a research note on Monday, August 19th. Jefferies Financial Group lowered their price target on shares of Hippo from $29.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Finally, JMP Securities increased their price target on Hippo from $25.00 to $35.00 and gave the stock a “market outperform” rating in a research report on Friday, November 22nd.

Hippo Stock Performance

The stock has a fifty day simple moving average of $21.55 and a two-hundred day simple moving average of $19.07. The stock has a market capitalization of $801.69 million, a price-to-earnings ratio of -6.27 and a beta of 1.26.

Institutional Investors Weigh In On Hippo

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Hippo by 6.3% in the 1st quarter. Vanguard Group Inc. now owns 759,254 shares of the company’s stock valued at $13,872,000 after buying an additional 45,058 shares in the last quarter. Dimensional Fund Advisors LP purchased a new stake in Hippo during the second quarter valued at about $629,000. Bank of New York Mellon Corp raised its stake in shares of Hippo by 99.2% during the second quarter. Bank of New York Mellon Corp now owns 61,089 shares of the company’s stock worth $1,050,000 after acquiring an additional 30,418 shares in the last quarter. PEAK6 Investments LLC bought a new stake in Hippo in the first quarter worth $277,000. Finally, SG Americas Securities LLC purchased a new position in Hippo in the 3rd quarter worth approximately $174,000. 43.01% of the stock is owned by institutional investors.

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.