Azora Capital LP Makes New $21.70 Million Investment in Neptune Insurance Holdings Inc. $NP

Azora Capital LP purchased a new stake in Neptune Insurance Holdings Inc. (NYSE:NP) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 743,987 shares of the company’s stock, valued at approximately $21,695,000. Neptune Insurance makes up approximately 1.4% of Azora Capital LP’s investment portfolio, making the stock its 21st largest holding. Azora Capital LP owned about 0.54% of Neptune Insurance as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wells Fargo & Company MN bought a new stake in shares of Neptune Insurance during the 4th quarter valued at approximately $28,000. PNC Financial Services Group Inc. bought a new stake in shares of Neptune Insurance during the 4th quarter valued at approximately $125,000. FNY Investment Advisers LLC bought a new stake in shares of Neptune Insurance during the 3rd quarter valued at approximately $171,000. FJ Capital Management LLC bought a new stake in shares of Neptune Insurance during the 4th quarter valued at approximately $289,000. Finally, BIT Capital GmbH bought a new stake in shares of Neptune Insurance during the 4th quarter valued at approximately $292,000.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on NP shares. Evercore reaffirmed an “outperform” rating on shares of Neptune Insurance in a report on Friday, May 8th. Raymond James Financial reaffirmed an “outperform” rating on shares of Neptune Insurance in a report on Monday, April 27th. Keefe, Bruyette & Woods upped their price objective on Neptune Insurance from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Neptune Insurance in a research note on Monday, April 20th. Finally, Piper Sandler lowered their price objective 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. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $27.73.

Neptune Insurance Price Performance

Neptune Insurance stock opened at $28.87 on Thursday. The business has a 50 day moving average of $26.95 and a 200-day moving average of $25.32. Neptune Insurance Holdings Inc. has a 1 year low of $14.78 and a 1 year high of $33.23. The company has a market capitalization of $3.99 billion and a P/E ratio of 106.92.

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

Insider Activity at Neptune Insurance

In other Neptune Insurance news, major shareholder Vii L.P. Ftv sold 5,252,044 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $26.40, for a total transaction of $138,653,961.60. Following the completion of the sale, the insider owned 17,098,587 shares of the company’s stock, valued at approximately $451,402,696.80. This represents a 23.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Hold 101 Lp Bsiv sold 4,589,351 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $26.40, for a total transaction of $121,158,866.40. Following the sale, the insider directly owned 14,941,121 shares of the company’s stock, valued at $394,445,594.40. This represents a 23.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 11,317,604 shares of company stock valued at $298,784,746 in the last ninety days. 74.26% of the stock is currently owned by insiders.

Neptune Insurance Company Profile

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.