Hippo (NYSE:HIPO) Trading Down 5.3% - Time to Sell?

Hippo Holdings Inc. (NYSE:HIPO - Get Free Report)'s stock price was down 5.3% during mid-day trading on Thursday . The stock traded as low as $27.43 and last traded at $27.59. Approximately 29,512 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 218,643 shares. The stock had previously closed at $29.14.

Analyst Ratings Changes

Several research analysts have recently issued reports on HIPO shares. B. Riley started coverage on Hippo in a research note on Tuesday, July 1st. They issued a "buy" rating and a $35.00 price objective for the company. Keefe, Bruyette & Woods raised their price objective on Hippo from $24.00 to $26.00 and gave the stock a "market perform" rating in a research note on Tuesday, April 22nd. Finally, Jefferies Financial Group reduced their price objective on Hippo from $43.00 to $30.00 and set a "buy" rating for the company in a research note on Friday, April 11th.

Hippo Stock Down 5.0%

The stock has a market capitalization of $656.42 million, a PE ratio of -11.97 and a beta of 1.53. The firm has a 50 day moving average price of $25.66 and a 200-day moving average price of $26.26.

Hippo (NYSE:HIPO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($1.91) earnings per share for the quarter, missing the consensus estimate of ($1.41) by ($0.50). The company had revenue of $110.30 million for the quarter, compared to analysts' expectations of $106.70 million. Hippo had a negative net margin of 13.21% and a negative return on equity of 29.27%. Equities analysts expect that Hippo Holdings Inc. will post -3.63 earnings per share for the current fiscal year.

Insider Activity at Hippo

In related news, CEO Torben Ostergaard sold 4,889 shares of Hippo stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $24.61, for a total transaction of $120,318.29. Following the completion of the transaction, the chief executive officer directly owned 66,793 shares in the company, valued at approximately $1,643,775.73. This trade represents a 6.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Len Fw Investor, Llc sold 514,309 shares of Hippo stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $28.17, for a total value of $14,488,084.53. Following the transaction, the insider owned 2,476,418 shares of the company's stock, valued at approximately $69,760,695.06. This represents a 17.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 521,642 shares of company stock valued at $14,681,601. 10.80% of the stock is owned by company insiders.

Institutional Trading of Hippo

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Hippo by 2.4% in the first quarter. Vanguard Group Inc. now owns 1,044,502 shares of the company's stock valued at $26,697,000 after purchasing an additional 24,253 shares during the period. Renaissance Technologies LLC grew its holdings in Hippo by 90.8% in the fourth quarter. Renaissance Technologies LLC now owns 268,320 shares of the company's stock valued at $7,183,000 after purchasing an additional 127,716 shares during the period. Dimensional Fund Advisors LP grew its holdings in Hippo by 96.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 228,137 shares of the company's stock valued at $6,107,000 after purchasing an additional 112,108 shares during the period. JPMorgan Chase & Co. grew its holdings in Hippo by 46.3% in the fourth quarter. JPMorgan Chase & Co. now owns 213,784 shares of the company's stock valued at $5,723,000 after purchasing an additional 67,608 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Hippo by 1.4% in the fourth quarter. Northern Trust Corp now owns 161,253 shares of the company's stock worth $4,317,000 after acquiring an additional 2,232 shares during the last quarter. 43.01% of the stock is owned by institutional investors and hedge funds.

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.