Hippo (NYSE:HIPO) Stock Price Down 5.3% - What's Next?

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

Analysts Set New Price Targets

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

Hippo Stock Down 5.0%

The business's 50-day moving average is $25.62 and its two-hundred day moving average is $26.28. The company has a market capitalization of $656.42 million, a P/E ratio of -11.97 and a beta of 1.53.

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

Insider Transactions at Hippo

In other news, major shareholder Len Fw Investor, Llc sold 514,309 shares of Hippo stock in a transaction dated 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 completion of the transaction, the insider owned 2,476,418 shares in the company, valued at $69,760,695.06. This trade represents a 17.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Torben Ostergaard sold 2,444 shares of Hippo stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $29.95, for a total transaction of $73,197.80. Following the completion of the transaction, the chief executive officer owned 64,349 shares of the company's stock, valued at $1,927,252.55. The trade was a 3.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 521,642 shares of company stock valued at $14,681,601 in the last 90 days. 10.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hippo

Several hedge funds have recently bought and sold shares of the company. Invesco Ltd. grew its stake in Hippo by 1.5% during the fourth quarter. Invesco Ltd. now owns 35,866 shares of the company's stock valued at $960,000 after acquiring an additional 539 shares in the last quarter. AQR Capital Management LLC grew its stake in Hippo by 8.3% during the first quarter. AQR Capital Management LLC now owns 16,193 shares of the company's stock valued at $414,000 after acquiring an additional 1,236 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in Hippo by 13.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 11,736 shares of the company's stock valued at $314,000 after acquiring an additional 1,400 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Hippo by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 152,664 shares of the company's stock valued at $4,087,000 after acquiring an additional 1,424 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Hippo by 5.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,768 shares of the company's stock valued at $717,000 after acquiring an additional 1,434 shares in the last quarter. 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.