Insider Selling: Hippo Holdings Inc. (NYSE:HIPO) Chairman Sells 12,250 Shares of Stock

Hippo Holdings Inc. (NYSE:HIPO) Chairman Assaf Wand sold 12,250 shares of Hippo stock in a transaction dated 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 in the company, valued at approximately $13,304,390.28. This represents a 2.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Hippo Price Performance

NYSE HIPO traded up $1.16 during trading hours on Friday, reaching $26.80. The company’s stock had a trading volume of 97,283 shares, compared to its average volume of 112,841. Hippo Holdings Inc. has a 52 week low of $7.75 and a 52 week high of $34.24. The stock has a market cap of $652.85 million, a P/E ratio of -5.14 and a beta of 1.47. The firm has a fifty day simple moving average of $27.27 and a 200-day simple moving average of $21.07.

Hedge Funds Weigh In On Hippo

A number of hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. increased its holdings 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 purchasing an additional 98,256 shares during the period. Barclays PLC grew its position in shares of Hippo by 276.5% in the 3rd quarter. Barclays PLC now owns 25,816 shares of the company’s stock valued at $435,000 after buying an additional 18,960 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Hippo by 6.3% in the third quarter. Geode Capital Management LLC now owns 442,261 shares of the company’s stock valued at $7,467,000 after buying an additional 26,085 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of Hippo during the third quarter worth about $174,000. Finally, State Street Corp lifted its stake in shares of Hippo by 10.5% in the third quarter. State Street Corp now owns 377,537 shares of the company’s stock worth $6,373,000 after acquiring an additional 35,743 shares during the period. Institutional investors and hedge funds own 43.01% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on HIPO. Jefferies Financial Group lowered their price objective on shares of Hippo from $29.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. JMP Securities upped their price target on shares of Hippo from $25.00 to $35.00 and gave the stock a “market outperform” rating in a report on Friday, November 22nd.

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.