Jacobs Levy Equity Management Inc. Makes New $864,000 Investment in Hippo Holdings Inc. (NYSE:HIPO)

Jacobs Levy Equity Management Inc. acquired a new stake in shares of Hippo Holdings Inc. (NYSE:HIPO) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 51,199 shares of the company’s stock, valued at approximately $864,000. Jacobs Levy Equity Management Inc. owned about 0.21% of Hippo as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Hippo by 6.3% in the first quarter. Vanguard Group Inc. now owns 759,254 shares of the company’s stock valued at $13,872,000 after purchasing an additional 45,058 shares during the last quarter. Dimensional Fund Advisors LP bought a new position in shares of Hippo during the 2nd quarter worth about $629,000. Bank of New York Mellon Corp lifted its stake in shares of Hippo by 99.2% in the second quarter. Bank of New York Mellon Corp now owns 61,089 shares of the company’s stock valued at $1,050,000 after buying an additional 30,418 shares during the period. Squarepoint Ops LLC acquired a new stake in Hippo during the second quarter worth about $335,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Hippo by 37.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,924 shares of the company’s stock valued at $1,113,000 after acquiring an additional 17,978 shares during the period. 43.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HIPO. Jefferies Financial Group reduced their target price on Hippo from $29.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods raised their price objective on shares of Hippo from $20.00 to $21.00 and gave the stock a “market perform” rating in a report on Monday, August 19th. Finally, JMP Securities upped their target price on shares of Hippo from $25.00 to $35.00 and gave the company a “market outperform” rating in a research note on Friday, November 22nd.

Hippo Price Performance

Shares of NYSE:HIPO opened at $29.54 on Tuesday. The business’s fifty day moving average price is $24.04 and its two-hundred day moving average price is $19.93. Hippo Holdings Inc. has a fifty-two week low of $7.75 and a fifty-two week high of $34.24. The stock has a market capitalization of $719.59 million, a price-to-earnings ratio of -5.67 and a beta of 1.47.

Insider Activity

In other Hippo news, CAO Anirudh Badia sold 2,552 shares of Hippo stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $24.49, for a total value of $62,498.48. Following the completion of the transaction, the chief accounting officer now owns 102,315 shares in the company, valued at approximately $2,505,694.35. The trade was a 2.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Assaf Wand sold 12,250 shares of the business’s 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 completion of the transaction, the chairman now directly owns 548,064 shares in the company, valued at approximately $8,873,156.16. This represents a 2.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,657 shares of company stock worth $990,571. Corporate insiders own 11.37% of the company’s stock.

Hippo 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.