Jane Street Group LLC Reduces Stock Position in Hippo Holdings Inc. (NYSE:HIPO)

Jane Street Group LLC cut its stake in Hippo Holdings Inc. (NYSE:HIPO) by 66.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,255 shares of the company’s stock after selling 42,164 shares during the period. Jane Street Group LLC owned approximately 0.09% of Hippo worth $359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. State Street Corp grew its position in Hippo by 10.5% in the third quarter. State Street Corp now owns 377,537 shares of the company’s stock worth $6,373,000 after acquiring an additional 35,743 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in Hippo in the third quarter worth approximately $864,000. Caz Investments LP grew its position in Hippo by 100.0% in the third quarter. Caz Investments LP now owns 5,600 shares of the company’s stock worth $95,000 after acquiring an additional 2,800 shares during the period. Charles Schwab Investment Management Inc. grew its position in Hippo by 9.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 151,240 shares of the company’s stock worth $2,553,000 after acquiring an additional 13,586 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Hippo by 37.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,924 shares of the company’s stock worth $1,113,000 after acquiring an additional 17,978 shares during the period. 43.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HIPO has been the subject of several analyst reports. JMP Securities increased their price objective on Hippo from $25.00 to $35.00 and gave the stock a “market outperform” rating in a research report on Friday, November 22nd. Jefferies Financial Group lowered their price objective on Hippo from $29.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th.

Insider Activity

In other Hippo news, CEO Torben Ostergaard sold 2,092 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $26.46, for a total value of $55,354.32. Following the sale, the chief executive officer now directly owns 104,332 shares in the company, valued at $2,760,624.72. This trade represents a 1.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Anirudh Badia sold 2,552 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $24.49, for a total value of $62,498.48. Following the completion of the sale, the chief accounting officer now owns 102,315 shares in the company, valued at approximately $2,505,694.35. This represents a 2.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,771 shares of company stock worth $1,818,963. Corporate insiders own 11.37% of the company’s stock.

Hippo Stock Down 0.5 %

NYSE:HIPO opened at $26.08 on Thursday. The stock has a market capitalization of $635.31 million, a price-to-earnings ratio of -5.01 and a beta of 1.51. Hippo Holdings Inc. has a 52 week low of $7.75 and a 52 week high of $34.24. The stock’s fifty day moving average is $27.88 and its two-hundred day moving average is $21.42.

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.