Walleye Capital LLC raised its stake in shares of Neptune Insurance Holdings Inc. (NYSE:NP – Free Report) by 17.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,364 shares of the company’s stock after buying an additional 20,000 shares during the quarter. Walleye Capital LLC’s holdings in Neptune Insurance were worth $3,274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently modified their holdings of NP. Wells Fargo & Company MN bought a new stake in Neptune Insurance in the fourth quarter worth $28,000. PNC Financial Services Group Inc. bought a new position in Neptune Insurance during the fourth quarter valued at $125,000. Symmetry Investments LP purchased a new position in shares of Neptune Insurance in the 4th quarter worth $204,000. FJ Capital Management LLC purchased a new position in shares of Neptune Insurance in the 4th quarter worth $289,000. Finally, BIT Capital GmbH bought a new stake in shares of Neptune Insurance in the 4th quarter worth about $292,000.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on NP shares. Keefe, Bruyette & Woods restated a “market perform” rating and set a $34.00 target price (up from $32.00) on shares of Neptune Insurance in a research report on Wednesday, July 8th. JPMorgan Chase & Co. lifted their price target on Neptune Insurance from $26.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Raymond James Financial reissued an “outperform” rating on shares of Neptune Insurance in a research note on Monday, April 27th. Mizuho upped their price objective on Neptune Insurance from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Finally, Wells Fargo & Company raised their price objective on Neptune Insurance from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday. Eight equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $30.68.
Neptune Insurance Stock Down 0.7%
NP stock opened at $29.78 on Friday. Neptune Insurance Holdings Inc. has a twelve month low of $14.78 and a twelve month high of $34.61. The stock has a market capitalization of $4.12 billion and a price-to-earnings ratio of 119.11. The firm’s fifty day simple moving average is $29.08 and its two-hundred day simple moving average is $25.95.
Neptune Insurance (NYSE:NP – Get Free Report) last released its earnings results on Tuesday, July 21st. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.01. Neptune Insurance had a net margin of 21.45% and a negative return on equity of 18.77%. The firm had revenue of $55.87 million during the quarter, compared to analyst estimates of $52.38 million. As a group, equities research analysts expect that Neptune Insurance Holdings Inc. will post 0.4 EPS for the current year.
Insider Transactions at Neptune Insurance
In other Neptune Insurance news, major shareholder Vii L.P. Ftv sold 787,806 shares of the firm’s 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 $430,604,618.40. This trade represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Hold 101 Lp Bsiv sold 688,403 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $26.40, for a total value of $18,173,839.20. Following the transaction, the insider owned 14,252,718 shares of the company’s stock, valued at $376,271,755.20. This trade represents a 4.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 11,317,604 shares of company stock worth $298,784,746 over the last three months. 74.26% of the stock is currently owned by corporate insiders.
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.
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