Hippo (NYSE:HIPO) Stock Price Down 10.1% – What’s Next?

Hippo Holdings Inc. (NYSE:HIPO) shares dropped 10.1% on Monday . The company traded as low as $26.85 and last traded at $27.16. Approximately 80,605 shares traded hands during trading, a decline of 53% from the average daily volume of 170,564 shares. The stock had previously closed at $30.20.

Analyst Upgrades and Downgrades

Separately, JMP Securities increased their price objective 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 firm has a market cap of $652.00 million, a PE ratio of -5.14 and a beta of 1.50. The business’s fifty day moving average is $27.99 and its 200-day moving average is $24.65.

Hippo (NYSE:HIPO) last posted its quarterly earnings data on Wednesday, March 5th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.08. Hippo had a negative return on equity of 36.38% and a negative net margin of 37.94%. The business had revenue of $102.00 million for the quarter, compared to the consensus estimate of $97.83 million. Analysts forecast that Hippo Holdings Inc. will post -3.63 EPS for the current year.

Insider Buying and Selling

In other news, insider Michael Stienstra sold 2,329 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $30.02, for a total value of $69,916.58. Following the completion of the transaction, the insider now directly owns 59,648 shares in the company, valued at approximately $1,790,632.96. This trade represents a 3.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Torben Ostergaard sold 3,022 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $25.77, for a total value of $77,876.94. Following the transaction, the chief executive officer now owns 98,288 shares of the company’s stock, valued at approximately $2,532,881.76. The trade was a 2.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,383 shares of company stock valued at $2,574,135. Company insiders own 11.37% of the company’s stock.

Hedge Funds Weigh In On Hippo

Several institutional investors have recently modified their holdings of the company. Caz Investments LP raised its holdings in Hippo by 100.0% during the 3rd quarter. Caz Investments LP now owns 5,600 shares of the company’s stock valued at $95,000 after buying an additional 2,800 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of Hippo in the 4th quarter worth about $118,000. Public Employees Retirement System of Ohio bought a new stake in shares of Hippo in the 3rd quarter worth approximately $174,000. The Manufacturers Life Insurance Company bought a new position in Hippo during the 4th quarter valued at approximately $200,000. Finally, Two Sigma Advisers LP purchased a new position in shares of Hippo in the 4th quarter worth about $200,000. 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.