JPMorgan Chase & Co. Acquires 98,256 Shares of Hippo Holdings Inc. (NYSE:HIPO)

JPMorgan Chase & Co. lifted its holdings in shares of Hippo Holdings Inc. (NYSE:HIPO) by 205.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 146,176 shares of the company’s stock after purchasing an additional 98,256 shares during the period. JPMorgan Chase & Co. owned about 0.60% of Hippo worth $2,467,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in HIPO. Dimensional Fund Advisors LP bought a new position in shares of Hippo during the second quarter valued at about $629,000. Barclays PLC grew its position in Hippo by 276.5% during the 3rd quarter. Barclays PLC now owns 25,816 shares of the company’s stock worth $435,000 after acquiring an additional 18,960 shares during the last quarter. Geode Capital Management LLC increased its stake in Hippo by 6.3% in the 3rd quarter. Geode Capital Management LLC now owns 442,261 shares of the company’s stock worth $7,467,000 after purchasing an additional 26,085 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted 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 valued at $1,113,000 after purchasing an additional 17,978 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Hippo by 10.5% during 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. Hedge funds and other institutional investors own 43.01% of the company’s stock.

Hippo Trading Down 1.6 %

Shares of NYSE HIPO opened at $27.34 on Tuesday. The firm has a fifty day simple moving average of $28.20 and a two-hundred day simple moving average of $22.02. Hippo Holdings Inc. has a 12 month low of $7.75 and a 12 month high of $34.24. The firm has a market capitalization of $665.88 million, a PE ratio of -5.25 and a beta of 1.51.

Insider Buying and Selling

In other news, Chairman Assaf Wand sold 12,250 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $26.02, for a total value of $318,745.00. Following the sale, the chairman now directly owns 511,314 shares of the company’s stock, valued at $13,304,390.28. This represents a 2.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Torben Ostergaard sold 3,022 shares of the firm’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 transaction 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. This represents a 2.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 70,793 shares of company stock valued at $1,896,840 over the last three months. Corporate insiders own 11.37% of the company’s stock.

Wall Street Analysts Forecast Growth

HIPO has been the subject of a number of recent analyst reports. JMP Securities upped their price target on shares of Hippo from $25.00 to $35.00 and gave the company a “market outperform” rating in a report on Friday, November 22nd. 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 report on Wednesday, October 9th.

Hippo Company 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.