Hippo (NYSE:HIPO) Shares Up 5.1% – Time to Buy?

Shares of Hippo Holdings Inc. (NYSE:HIPO) were up 5.1% during trading on Monday . The company traded as high as $28.94 and last traded at $28.68. Approximately 55,971 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 156,441 shares. The stock had previously closed at $27.29.

Analysts Set New Price Targets

Several research analysts recently issued reports on HIPO shares. Jefferies Financial Group dropped their price objective on 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 lifted their price objective on shares of Hippo from $20.00 to $21.00 and gave the company a “market perform” rating in a report on Monday, August 19th.

Hippo Stock Up 2.0 %

The company’s 50-day simple moving average is $20.21 and its 200 day simple moving average is $18.59. The firm has a market capitalization of $708.88 million, a PE ratio of -5.59 and a beta of 1.26.

Insider Transactions at Hippo

In related news, Chairman Assaf Wand sold 12,250 shares of the company’s stock in a transaction 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 transaction, the chairman now directly owns 548,064 shares of the company’s stock, valued at $8,873,156.16. This represents a 2.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard Mccathron sold 10,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $25.55, for a total value of $255,500.00. Following the sale, the chief executive officer now owns 366,146 shares in the company, valued at approximately $9,355,030.30. The trade was a 2.66 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,657 shares of company stock valued at $538,171. Corporate insiders own 11.37% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Caz Investments LP lifted its holdings 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 buying an additional 2,800 shares during the period. SG Americas Securities LLC acquired a new position in Hippo in the third quarter valued at approximately $174,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Hippo during the 3rd quarter worth approximately $174,000. AQR Capital Management LLC purchased a new position in shares of Hippo during the 2nd quarter valued at approximately $194,000. Finally, PEAK6 Investments LLC acquired a new position in shares of Hippo in the 1st quarter valued at $277,000. Hedge funds and other institutional investors own 43.01% of the company’s stock.

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.