Hippo Holdings Inc. (NYSE:HIPO) CEO Torben Ostergaard Sells 3,022 Shares

Hippo Holdings Inc. (NYSE:HIPO) CEO Torben Ostergaard sold 3,022 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $25.77, for a total value of $77,876.94. Following the transaction, the chief executive officer now directly owns 98,288 shares of the company’s stock, valued at $2,532,881.76. The trade was a 2.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Torben Ostergaard also recently made the following trade(s):

• On Monday, December 23rd, Torben Ostergaard sold 3,022 shares of Hippo stock. The shares were sold at an average price of $25.91, for a total value of $78,300.02.
• On Tuesday, December 17th, Torben Ostergaard sold 2,092 shares of Hippo stock. The shares were sold at an average price of $26.46, for a total transaction of $55,354.32.

Hippo Trading Down 6.4 %

HIPO opened at $24.49 on Friday. Hippo Holdings Inc. has a 12-month low of $7.75 and a 12-month high of $34.24. The company has a market cap of $596.58 million, a price-to-earnings ratio of -4.70 and a beta of 1.51. The stock has a fifty day simple moving average of $28.02 and a two-hundred day simple moving average of $21.51.

Analysts Set New Price Targets

Several research firms have recently commented on HIPO. Jefferies Financial Group dropped their target price on shares of Hippo from $29.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. JMP Securities raised their price objective on shares of Hippo from $25.00 to $35.00 and gave the stock a “market outperform” rating in a report on Friday, November 22nd.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HIPO. Bank of New York Mellon Corp boosted its stake in Hippo by 99.2% during the second quarter. Bank of New York Mellon Corp now owns 61,089 shares of the company’s stock worth $1,050,000 after acquiring an additional 30,418 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Hippo by 93.7% in the 2nd quarter. Rhumbline Advisers now owns 28,738 shares of the company’s stock worth $494,000 after buying an additional 13,899 shares during the last quarter. American Century Companies Inc. increased its position in Hippo by 28.2% during the 2nd quarter. American Century Companies Inc. now owns 25,453 shares of the company’s stock valued at $438,000 after buying an additional 5,592 shares in the last quarter. Dimensional Fund Advisors LP purchased a new position in Hippo during the second quarter valued at $629,000. Finally, Squarepoint Ops LLC bought a new position in Hippo in the 2nd quarter worth about $335,000. 43.01% of the stock is currently owned by institutional investors.

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.