Hippo (NYSE:HIPO) Trading Down 7.1% After Insider Selling

Hippo Holdings Inc. (NYSE:HIPO) shares dropped 7.1% during trading on Tuesday following insider selling activity. The company traded as low as $27.55 and last traded at $27.55. Approximately 48,676 shares traded hands 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.

Specifically, CEO Richard Mccathron sold 10,000 shares of Hippo stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $25.55, for a total value of $255,500.00. Following the completion of the transaction, the chief executive officer now directly owns 366,146 shares in the company, valued at approximately $9,355,030.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Anirudh Badia sold 2,552 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $24.49, for a total transaction of $62,498.48. Following the completion of the transaction, the chief accounting officer now owns 102,315 shares of the company’s stock, valued at $2,505,694.35. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

HIPO has been the subject of a number of research reports. Keefe, Bruyette & Woods upped their price objective on Hippo from $20.00 to $21.00 and gave the stock a “market perform” rating in a report on Monday, August 19th. Jefferies Financial Group cut their price objective on Hippo from $29.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th.

Hippo Stock Down 0.4 %

The stock has a market cap of $670.35 million, a P/E ratio of -5.16 and a beta of 1.26. The firm has a 50 day moving average price of $19.44 and a 200 day moving average price of $18.39.

Institutional Trading of Hippo

Institutional investors and hedge funds have recently bought and sold shares of the stock. Caz Investments LP lifted its stake in shares of Hippo by 100.0% in the 3rd quarter. Caz Investments LP now owns 5,600 shares of the company’s stock valued at $95,000 after purchasing an additional 2,800 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Hippo by 9.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 151,240 shares of the company’s stock worth $2,553,000 after acquiring an additional 13,586 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Hippo by 37.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,924 shares of the company’s stock valued at $1,113,000 after purchasing an additional 17,978 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Hippo in the 3rd quarter valued at $174,000. Finally, AQR Capital Management LLC purchased a new position in Hippo in the second quarter valued at about $194,000. 43.01% of the stock is currently 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.