Vanguard Group Inc. Takes Position in Neptune Insurance Holdings Inc. $NP

Vanguard Group Inc. bought a new stake in Neptune Insurance Holdings Inc. (NYSE:NP) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,613,955 shares of the company’s stock, valued at approximately $47,063,000.

A number of other institutional investors have also modified their holdings of NP. Emerald Mutual Fund Advisers Trust acquired a new position in shares of Neptune Insurance in the 3rd quarter valued at $792,000. Maltese Capital Management LLC acquired a new position in shares of Neptune Insurance in the 3rd quarter valued at $3,200,000. FNY Investment Advisers LLC acquired a new position in shares of Neptune Insurance in the 3rd quarter valued at $171,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Neptune Insurance in the 4th quarter valued at $759,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Neptune Insurance in the 4th quarter valued at $2,068,000.

Insiders Place Their Bets

In related news, CEO Trevor R. Burgess purchased 50,000 shares of the stock in a transaction dated Friday, March 13th. The shares were acquired at an average cost of $18.71 per share, with a total value of $935,500.00. Following the purchase, the chief executive officer directly owned 2,082,964 shares in the company, valued at $38,972,256.44. This trade represents a 2.46% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael Warren Vostrizansky purchased 23,000 shares of the stock in a transaction dated Friday, February 20th. The shares were bought at an average cost of $21.50 per share, for a total transaction of $494,500.00. Following the completion of the purchase, the director owned 23,000 shares in the company, valued at approximately $494,500. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 74.26% of the company’s stock.

Neptune Insurance Stock Up 1.7%

NYSE:NP opened at $27.92 on Friday. Neptune Insurance Holdings Inc. has a fifty-two week low of $14.78 and a fifty-two week high of $33.23. The stock has a market cap of $3.86 billion and a PE ratio of 103.41. The firm’s fifty day simple moving average is $24.87 and its 200-day simple moving average is $24.99.

Neptune Insurance (NYSE:NP) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. The company had revenue of $37.80 million for the quarter, compared to analyst estimates of $36.96 million. The firm’s revenue was up 28.8% on a year-over-year basis. Equities analysts anticipate that Neptune Insurance Holdings Inc. will post 0.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Morgan Stanley cut their target price on shares of Neptune Insurance from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 4th. BMO Capital Markets raised shares of Neptune Insurance from a “market perform” rating to an “outperform” rating and cut their target price for the company from $25.00 to $20.00 in a report on Friday, February 13th. Weiss Ratings reissued a “sell (d)” rating on shares of Neptune Insurance in a research note on Monday, April 20th. Piper Sandler cut their price objective on shares of Neptune Insurance from $33.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. Finally, Raymond James Financial restated an “outperform” rating on shares of Neptune Insurance in a research report on Monday, April 27th. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $27.42.

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.