Hippo Plans $50M Stock Buyback

Hippo Holdings Inc. HIPO Board has authorized a stock repurchase program for up to $50 million of its common stock, effective immediately.
Repurchases under the program may be made in the open market, in privately negotiated transactions, or otherwise.
The program does not obligate Hippo to acquire any particular amount of its common stock and may be modified, suspended, or terminated at any time at Hippo’s discretion.
HIPO held cash and investments of $640 million at year-end.
Price Action: HIPO shares are trading higher by 7.72% at $14.23 on the last check Monday.