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

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

Wall Street Analyst Weigh In

Separately, JMP Securities increased their price objective on shares of Hippo from $25.00 to $35.00 and gave the stock a “market outperform” rating in a research note on Friday, November 22nd.

Hippo Price Performance

The firm has a 50-day moving average of $27.99 and a 200-day moving average of $24.65. The stock has a market cap of $652.00 million, a PE ratio of -5.14 and a beta of 1.50.

Hippo (NYSE:HIPO) last posted its earnings results on Wednesday, March 5th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $102.00 million during the quarter, compared to the consensus estimate of $97.83 million. Equities analysts forecast that Hippo Holdings Inc. will post -3.63 EPS for the current fiscal year.

Insider Activity at Hippo

In other news, CEO Torben Ostergaard sold 2,092 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $26.46, for a total transaction of $55,354.32. Following the transaction, the chief executive officer now owns 104,332 shares of the company’s stock, valued at approximately $2,760,624.72. This represents a 1.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Stienstra sold 2,329 shares of Hippo stock in a transaction dated 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 sale, the insider now owns 59,648 shares of the company’s stock, valued at $1,790,632.96. The trade was a 3.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,383 shares of company stock worth $2,574,135 in the last 90 days. 11.37% of the stock is owned by corporate insiders.

Institutional Trading of Hippo

A number of hedge funds have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. increased its stake in Hippo by 37.5% during the 3rd 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. Charles Schwab Investment Management Inc. increased its holdings in Hippo by 9.9% in 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. Caz Investments LP raised its position in Hippo by 100.0% during the third quarter. Caz Investments LP now owns 5,600 shares of the company’s stock worth $95,000 after acquiring an additional 2,800 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in Hippo during the third quarter valued at $864,000. Finally, State Street Corp grew its position in shares of Hippo by 10.5% in the third quarter. State Street Corp now owns 377,537 shares of the company’s stock valued at $6,373,000 after purchasing an additional 35,743 shares during the period. Hedge funds and other institutional investors own 43.01% of the company’s stock.

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.