Key Points
- Major shareholder Hold 101 LP BSIV sold 1.63 million Neptune Insurance shares for approximately $54.2 million at an average price of $33.22, reducing its ownership by 11.45% to 12.62 million shares.
- Neptune Insurance reported quarterly EPS of $0.15, slightly above the $0.14 consensus, while revenue of $55.87 million exceeded expectations of $52.38 million.
- Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $31.46; shares recently opened at $31.84, below the $35.15 one-year high.
Neptune Insurance Holdings Inc. (NYSE:NP - Get Free Report) major shareholder Hold 101 Lp Bsiv sold 1,632,160 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $33.22, for a total transaction of $54,220,355.20. Following the completion of the transaction, the insider owned 12,620,558 shares of the company's stock, valued at $419,254,936.76. This trade represents a 11.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% 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 Tuesday, May 19th, Hold 101 Lp Bsiv sold 688,403 shares of Neptune Insurance stock. The stock was sold at an average price of $26.40, for a total value of $18,173,839.20.
- 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 Price Performance
NP opened at $31.84 on Friday. The business has a 50 day moving average price of $29.61 and a two-hundred day moving average price of $26.14. The company has a market capitalization of $4.37 billion and a price-to-earnings ratio of 127.36. Neptune Insurance Holdings Inc. has a 1-year low of $14.78 and a 1-year high of $35.15.
Neptune Insurance (NYSE:NP - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.01. Neptune Insurance had a negative return on equity of 18.77% and a net margin of 21.45%.The company had revenue of $55.87 million for the quarter, compared to analysts' expectations of $52.38 million. Equities analysts expect that Neptune Insurance Holdings Inc. will post 0.4 EPS for the current fiscal year.
Analysts Set New Price Targets
NP has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods lowered their target price on Neptune Insurance from $34.00 to $33.00 and set a "market perform" rating on the stock in a report on Friday, July 24th. Bank of America upped their price target on shares of Neptune Insurance from $23.00 to $26.00 and gave the company a "neutral" rating in a report on Tuesday, April 14th. Wells Fargo & Company raised their price objective on shares of Neptune Insurance from $35.00 to $37.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. BMO Capital Markets cut shares of Neptune Insurance from an "outperform" rating to a "market perform" rating and set a $32.00 price objective on the stock. in a research note on Thursday. Finally, Mizuho boosted their target price on shares of Neptune Insurance from $29.00 to $32.00 and gave the stock a "neutral" rating in a report on Thursday, July 9th. Seven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Neptune Insurance has a consensus rating of "Hold" and an average target price of $31.46.
View Our Latest Report on NP
Institutional Investors Weigh In On Neptune Insurance
Several large investors have recently modified their holdings of the stock. Bregal Sagemount IV General Partner Jersey Ltd acquired a new position in shares of Neptune Insurance in the 4th quarter worth $569,509,000. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Neptune Insurance during the fourth quarter worth $133,488,000. Vanguard Group Inc. purchased a new stake in shares of Neptune Insurance during the fourth quarter valued at $47,063,000. Capital World Investors purchased a new stake in shares of Neptune Insurance during the fourth quarter valued at $32,091,000. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Neptune Insurance in the 4th quarter valued at $29,051,000.
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.
Featured Articles
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].
