Hippo (NYSE:HIPO) Trading Down 6.8% – Should You Sell?

Hippo Holdings Inc. (NYSE:HIPO) shares were down 6.8% during trading on Tuesday . The company traded as low as $25.89 and last traded at $25.93. Approximately 54,510 shares were traded during trading, a decline of 69% from the average daily volume of 175,177 shares. The stock had previously closed at $27.84.

Wall Street Analyst Weigh In

Separately, JMP Securities boosted their price objective on Hippo from $25.00 to $35.00 and gave the company a “market outperform” rating in a report on Friday, November 22nd.

Hippo Stock Down 0.8 %

The firm has a market capitalization of $658.40 million, a PE ratio of -5.04 and a beta of 1.50. The business has a 50-day moving average price of $28.09 and a 200-day moving average price of $25.03.

Hippo (NYSE:HIPO) last released its quarterly earnings results on Wednesday, March 5th. The company reported ($0.07) EPS for the quarter, topping 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 company had revenue of $102.00 million for the quarter, compared to analysts’ expectations of $97.83 million. On average, equities research analysts anticipate that Hippo Holdings Inc. will post -3.63 earnings per share for the current year.

Insider Activity

In related news, insider Michael Stienstra sold 2,329 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $30.02, for a total value of $69,916.58. Following the transaction, the insider now owns 59,648 shares of the company’s stock, valued at $1,790,632.96. This represents a 3.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Assaf Wand sold 12,250 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $26.02, for a total value of $318,745.00. Following the completion of the transaction, the chairman now directly owns 511,314 shares in the company, valued at $13,304,390.28. This trade represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,291 shares of company stock worth $2,207,860. Corporate insiders own 11.37% of the company’s stock.

Hedge Funds Weigh In On Hippo

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Hippo by 10.5% during the fourth quarter. Vanguard Group Inc. now owns 1,020,249 shares of the company’s stock worth $27,312,000 after buying an additional 96,959 shares during the last quarter. Geode Capital Management LLC lifted its position in Hippo by 6.3% in the third quarter. Geode Capital Management LLC now owns 442,261 shares of the company’s stock valued at $7,467,000 after purchasing an additional 26,085 shares during the period. State Street Corp lifted its position in 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. Renaissance Technologies LLC lifted its position 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. Finally, Dimensional Fund Advisors LP lifted its position 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. 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.