Capital World Investors Buys New Shares in Neptune Insurance Holdings Inc. $NP

Capital World Investors bought a new stake in Neptune Insurance Holdings Inc. (NYSE:NP) in the 4th quarter, Holdings Channel.com reports. The fund bought 1,100,500 shares of the company’s stock, valued at approximately $32,091,000.

Other institutional investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. acquired a new position in Neptune Insurance in the fourth quarter valued at $125,000. FNY Investment Advisers LLC acquired a new position in Neptune Insurance in the third quarter valued at $171,000. BIT Capital GmbH acquired a new position in Neptune Insurance in the fourth quarter valued at $292,000. Massachusetts Financial Services Co. MA acquired a new position in Neptune Insurance in the fourth quarter valued at $759,000. Finally, Comerica Bank acquired a new position in Neptune Insurance in the fourth quarter valued at $1,507,000.

Neptune Insurance Price Performance

Shares of NYSE:NP opened at $25.18 on Wednesday. The firm has a market capitalization of $3.48 billion and a PE ratio of 93.25. The business has a 50-day moving average of $26.60 and a two-hundred day moving average of $25.16. Neptune Insurance Holdings Inc. has a 12 month low of $14.78 and a 12 month high of $33.23.

Neptune Insurance (NYSE:NP) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. The firm had revenue of $37.80 million for the quarter, compared to analyst estimates of $36.96 million. The business’s revenue was up 28.8% compared to the same quarter last year. As a group, research analysts anticipate that Neptune Insurance Holdings Inc. will post 0.4 earnings per share for the current year.

Insider Activity

In other news, major shareholder Hold 101 Lp Bsiv sold 688,403 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $26.40, for a total value of $18,173,839.20. Following the completion of the sale, the insider owned 14,252,718 shares in the company, valued at approximately $376,271,755.20. This trade represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Vii L.P. Ftv sold 787,806 shares of the stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $26.40, for a total value of $20,798,078.40. Following the completion of the sale, the insider owned 16,310,781 shares of the company’s stock, valued at approximately $430,604,618.40. This trade represents a 4.61% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 11,317,604 shares of company stock worth $298,784,746. 74.26% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

NP has been the subject of several analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Neptune Insurance in a research note on Monday, April 20th. Keefe, Bruyette & Woods upped their price target on Neptune Insurance from $28.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Morgan Stanley upped their price target on Neptune Insurance from $26.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 21st. Piper Sandler dropped their price target on Neptune Insurance from $33.00 to $30.00 and set an “overweight” rating for the company in a research note on Thursday, February 19th. Finally, Bank of America upped their price target on Neptune Insurance from $23.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 14th. Eight investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Neptune Insurance presently has a consensus rating of “Moderate Buy” and an average price target of $27.73.

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.