Connor Clark & Lunn Investment Management Ltd. Boosts Stock Holdings in Hippo Holdings Inc. (NYSE:HIPO)

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Hippo Holdings Inc. (NYSE:HIPO) by 37.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 65,924 shares of the company’s stock after buying an additional 17,978 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Hippo were worth $1,113,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of HIPO. Vanguard Group Inc. increased its stake in Hippo by 6.3% during the 1st quarter. Vanguard Group Inc. now owns 759,254 shares of the company’s stock worth $13,872,000 after buying an additional 45,058 shares in the last quarter. Dimensional Fund Advisors LP purchased a new stake in shares of Hippo in the second quarter valued at approximately $629,000. Bank of New York Mellon Corp grew its position 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 purchasing an additional 30,418 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Hippo in the second quarter valued at approximately $335,000. Finally, PEAK6 Investments LLC purchased a new stake in shares of Hippo in the first quarter valued at approximately $277,000. 43.01% of the stock is currently owned by hedge funds and other institutional investors.

Hippo Stock Performance

HIPO opened at $32.91 on Thursday. Hippo Holdings Inc. has a one year low of $7.75 and a one year high of $34.24. The stock has a market capitalization of $801.69 million, a PE ratio of -6.27 and a beta of 1.26. The business’s 50 day moving average price is $21.55 and its 200 day moving average price is $19.07.

Insider Activity at Hippo

In other Hippo news, CEO Richard Mccathron sold 15,000 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $30.16, for a total transaction of $452,400.00. Following the transaction, the chief executive officer now directly owns 339,623 shares in the company, valued at $10,243,029.68. This represents a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Assaf Wand sold 12,250 shares of the company’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 transaction, the chairman now owns 548,064 shares in the company, valued at $8,873,156.16. This trade represents a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,657 shares of company stock worth $990,571. Insiders own 11.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods upped their price target on Hippo from $20.00 to $21.00 and gave the company a “market perform” rating in a research report on Monday, August 19th. Jefferies Financial Group dropped their price target on Hippo from $29.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Finally, JMP Securities upped their price target on Hippo from $25.00 to $35.00 and gave the company a “market outperform” rating in a research report on Friday, November 22nd.

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.