Key Points
- Neptune Insurance major shareholder Hold 101 Lp Bsiv sold 688,403 shares on May 19 at an average price of $26.40, totaling about $18.2 million. The sale reduced its ownership by 4.61% to 14.25 million shares.
- The shareholder also sold 4.59 million shares on May 15 for about $121.2 million, indicating a sizable recent reduction in its stake.
- Neptune Insurance was trading down 1.9% at $26.70, while its latest quarterly results met EPS expectations and showed 28.8% revenue growth year over year.
Neptune Insurance Holdings Inc. (NYSE:NP - Get Free Report) major shareholder Hold 101 Lp Bsiv sold 688,403 shares of the company's 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 transaction, the insider owned 14,252,718 shares of the company's stock, valued at $376,271,755.20. The trade was a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.
Hold 101 Lp Bsiv also recently made the following trade(s):
- On Friday, May 15th, Hold 101 Lp Bsiv sold 4,589,351 shares of Neptune Insurance stock. The stock was sold at an average price of $26.40, for a total value of $121,158,866.40.
Neptune Insurance Trading Down 1.9%
NP opened at $26.70 on Wednesday. The stock has a 50-day moving average price of $25.13 and a 200-day moving average price of $25.00. Neptune Insurance Holdings Inc. has a 12-month low of $14.78 and a 12-month high of $33.23. The stock has a market capitalization of $3.69 billion and a P/E ratio of 98.90.
Neptune Insurance (NYSE:NP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $0.09 EPS for the quarter, meeting analysts' consensus estimates of $0.09. The business had revenue of $37.80 million for the quarter, compared to the consensus estimate of $36.96 million. The company's quarterly revenue was up 28.8% compared to the same quarter last year. On average, equities research analysts predict that Neptune Insurance Holdings Inc. will post 0.39 EPS for the current year.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the company. Maltese Capital Management LLC purchased a new position in shares of Neptune Insurance in the third quarter worth $3,200,000. Comerica Bank purchased a new position in shares of Neptune Insurance in the fourth quarter worth $1,507,000. Vanguard Group Inc. bought a new stake in shares of Neptune Insurance in the fourth quarter worth about $47,063,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Neptune Insurance during the 4th quarter valued at about $2,068,000. Finally, Massachusetts Financial Services Co. MA purchased a new position in Neptune Insurance during the 4th quarter valued at about $759,000.
Analyst Ratings Changes
A number of brokerages have commented on NP. Mizuho increased their price target on shares of Neptune Insurance from $24.00 to $26.00 and gave the company a "neutral" rating in a research report on Monday, April 13th. BMO Capital Markets upgraded shares of Neptune Insurance from a "market perform" rating to an "outperform" rating and reduced their price target for the company from $25.00 to $20.00 in a research report on Friday, February 13th. Bank of America raised their price objective on Neptune Insurance from $23.00 to $26.00 and gave the company a "neutral" rating in a research note on Tuesday, April 14th. Keefe, Bruyette & Woods raised 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. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Neptune Insurance in a research note on Monday, April 20th. Eight investment 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 MarketBeat.com, Neptune Insurance presently has an average rating of "Moderate Buy" and a consensus price target of $27.42.
Get Our Latest Stock Analysis on NP
Neptune Insurance Company Profile
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
