BlueCrest Capital Management Ltd Acquires New Shares in Neptune Insurance Holdings Inc. $NP

BlueCrest Capital Management Ltd acquired a new position in shares of Neptune Insurance Holdings Inc. (NYSE:NP) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 45,000 shares of the company’s stock, valued at approximately $1,418,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NP. Bregal Sagemount IV General Partner Jersey Ltd acquired a new position in Neptune Insurance in the fourth quarter valued at about $569,509,000. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Neptune Insurance during the fourth quarter worth about $133,488,000. Vanguard Group Inc. bought a new position in shares of Neptune Insurance during the 4th quarter valued at about $47,063,000. California State Teachers Retirement System grew its position in shares of Neptune Insurance by 6,014.4% in the 2nd quarter. California State Teachers Retirement System now owns 1,322,780 shares of the company’s stock valued at $41,993,000 after purchasing an additional 1,301,146 shares during the period. Finally, Capital World Investors acquired a new position in shares of Neptune Insurance in the 4th quarter valued at approximately $32,091,000.

Insider Activity at Neptune Insurance

In other news, CFO James Steiner sold 57,012 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $31.71, for a total value of $1,807,850.52. Following the completion of the transaction, the chief financial officer owned 3,749,050 shares in the company, valued at $118,882,375.50. This trade represents a 1.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Vii L.P. Ftv sold 1,867,840 shares of Neptune Insurance stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $33.22, for a total value of $62,049,644.80. Following the completion of the sale, the insider directly owned 14,442,941 shares in the company, valued at approximately $479,794,500.02. This represents a 11.45% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 3,600,000 shares of company stock valued at $119,413,918. Corporate insiders own 74.26% of the company’s stock.

Neptune Insurance Stock Performance

NYSE NP opened at $31.67 on Thursday. Neptune Insurance Holdings Inc. has a 52 week low of $14.78 and a 52 week high of $35.15. The stock’s 50 day moving average price is $32.23 and its two-hundred day moving average price is $27.91. The stock has a market capitalization of $4.35 billion and a price-to-earnings ratio of 126.70.

Neptune Insurance (NYSE:NP) last posted its quarterly earnings data on Tuesday, July 21st. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. The company had revenue of $55.87 million for the quarter, compared to the consensus estimate of $52.38 million. Neptune Insurance had a net margin of 21.45% and a negative return on equity of 18.77%. On average, equities research analysts forecast that Neptune Insurance Holdings Inc. will post 0.4 EPS for the current year.

Analyst Ratings Changes

Several brokerages have commented on NP. Evercore restated an “outperform” rating and set a $36.00 target price on shares of Neptune Insurance in a report on Wednesday, July 22nd. Wells Fargo & Company increased their price objective on shares of Neptune Insurance from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. raised their price objective on shares of Neptune Insurance from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Keefe, Bruyette & Woods reduced their target price on shares of Neptune Insurance from $34.00 to $33.00 and set a “market perform” rating for the company in a research note on Friday, July 24th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $33.00 target price on shares of Neptune Insurance in a report on Wednesday, July 22nd. Eight equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Neptune Insurance presently has an average rating of “Moderate Buy” and a consensus target price of $31.82.

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.