Comerica Bank Takes $1.51 Million Position in Neptune Insurance Holdings Inc. $NP

Comerica Bank purchased a new stake in shares of Neptune Insurance Holdings Inc. (NYSE:NP) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 51,673 shares of the company’s stock, valued at approximately $1,507,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FNY Investment Advisers LLC bought a new position in shares of Neptune Insurance during the third quarter valued at $171,000. Emerald Mutual Fund Advisers Trust bought a new position in shares of Neptune Insurance during the third quarter valued at $792,000. Massachusetts Financial Services Co. MA bought a new position in shares of Neptune Insurance during the fourth quarter valued at $759,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Neptune Insurance during the fourth quarter valued at $2,068,000. Finally, Maltese Capital Management LLC bought a new position in shares of Neptune Insurance during the third quarter valued at $3,200,000.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on NP shares. Piper Sandler reduced their price target on Neptune Insurance from $33.00 to $30.00 and set an “overweight” rating for the company in a report on Thursday, February 19th. Keefe, Bruyette & Woods lifted their price objective on Neptune Insurance from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Neptune Insurance in a report on Monday, April 20th. Evercore set a $30.00 price objective on Neptune Insurance in a report on Thursday, February 19th. Finally, Mizuho lifted their price objective on Neptune Insurance from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Monday, April 13th. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $27.42.

Insider Transactions at Neptune Insurance

In other news, Director Michael Warren Vostrizansky purchased 23,000 shares of the business’s stock in a transaction on Friday, February 20th. The stock was acquired at an average cost of $21.50 per share, for a total transaction of $494,500.00. Following the purchase, the director directly owned 23,000 shares in the company, valued at $494,500. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Trevor R. Burgess purchased 50,000 shares of the business’s stock in a transaction on Friday, March 13th. The shares were purchased at an average price of $18.71 per share, with a total value of $935,500.00. Following the completion of the purchase, the chief executive officer owned 2,082,964 shares in the company, valued at approximately $38,972,256.44. This trade represents a 2.46% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 74.26% of the company’s stock.

Neptune Insurance Stock Performance

NYSE NP opened at $30.28 on Friday. Neptune Insurance Holdings Inc. has a one year low of $14.78 and a one year high of $33.23. The stock has a 50-day moving average of $23.98 and a 200 day moving average of $24.85. The company has a market capitalization of $4.18 billion and a price-to-earnings ratio of 112.15.

Neptune Insurance (NYSE:NP) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. The business had revenue of $37.80 million during the quarter, compared to the consensus estimate of $36.96 million. The company’s revenue for the quarter was up 28.8% on a year-over-year basis. On average, equities analysts predict that Neptune Insurance Holdings Inc. will post 0.39 earnings per share for the current fiscal year.

About Neptune Insurance

Our mission is to create a smarter, more resilient insurance platform powered by AI, data science, and technology, enabling insurers to deploy capacity with confidence and delivering instant access to coverage for policyholders and agents. Neptune is a leading, high-growth, highly profitable, data-driven managing general agent that is revolutionizing the way homeowners and businesses protect against the growing risks of flooding. We offer a range of easy-to-purchase residential and commercial insurance products — including primary flood insurance, excess flood insurance, and parametric earthquake insurance — distributed through a nationwide network of agencies.