Hippo (NYSE:HIPO) Shares Up 5.1% – Should You Buy?

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

Analyst Upgrades and Downgrades

HIPO has been the topic of several research reports. Jefferies Financial Group dropped their price objective 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. Keefe, Bruyette & Woods raised their price objective on Hippo from $20.00 to $21.00 and gave the company a “market perform” rating in a research note on Monday, August 19th.

Hippo Stock Up 3.9 %

The stock has a market capitalization of $706.73 million, a PE ratio of -5.53 and a beta of 1.26. The firm has a 50 day moving average price of $19.78 and a 200 day moving average price of $18.44.

Insider Activity at Hippo

In other Hippo news, CEO Richard Mccathron sold 10,000 shares of the company’s stock in a transaction on Friday, November 8th. The stock was 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 owns 366,146 shares in the company, valued at $9,355,030.30. This represents a 2.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Assaf Wand sold 12,250 shares of Hippo 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 sale, the chairman now owns 548,064 shares in the company, valued at $8,873,156.16. The trade was a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,657 shares of company stock valued at $538,171 over the last ninety days. Corporate insiders own 11.37% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of HIPO. Caz Investments LP increased its position in shares of Hippo by 100.0% during the third 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 bought a new position in Hippo during the third quarter valued at approximately $174,000. Public Employees Retirement System of Ohio purchased a new position in Hippo in the 3rd quarter worth $174,000. AQR Capital Management LLC purchased a new position in shares of Hippo in the second quarter worth about $194,000. Finally, PEAK6 Investments LLC bought a new stake in shares of Hippo in the 1st quarter valued at about $277,000. 43.01% of the stock is currently owned by hedge funds and other institutional investors.

Hippo Company Profile

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.