Emerald Mutual Fund Advisers Trust Sells 40,228 Shares of Neptune Insurance Holdings Inc. $NP

Emerald Mutual Fund Advisers Trust reduced its stake in shares of Neptune Insurance Holdings Inc. (NYSE:NP) by 32.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 82,879 shares of the company’s stock after selling 40,228 shares during the quarter. Emerald Mutual Fund Advisers Trust’s holdings in Neptune Insurance were worth $2,005,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Wells Fargo & Company MN bought a new stake in Neptune Insurance during the fourth quarter worth about $28,000. PNC Financial Services Group Inc. bought a new position in Neptune Insurance in the 4th quarter valued at about $125,000. FNY Investment Advisers LLC acquired a new position in shares of Neptune Insurance in the 3rd quarter valued at approximately $171,000. Symmetry Investments LP acquired a new position in shares of Neptune Insurance in the 4th quarter valued at approximately $204,000. Finally, FJ Capital Management LLC bought a new stake in shares of Neptune Insurance during the 4th quarter worth approximately $289,000.

Neptune Insurance Price Performance

Shares of Neptune Insurance stock opened at $32.23 on Tuesday. The company’s 50 day moving average price is $28.64 and its two-hundred day moving average price is $25.89. The firm has a market capitalization of $4.46 billion and a P/E ratio of 119.38. Neptune Insurance Holdings Inc. has a fifty-two week low of $14.78 and a fifty-two week high of $34.61.

Neptune Insurance (NYSE:NP) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. The company had revenue of $37.80 million for the quarter, compared to analyst estimates of $36.96 million. The company’s revenue was up 28.8% compared to the same quarter last year. On average, analysts expect that Neptune Insurance Holdings Inc. will post 0.4 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Hold 101 Lp Bsiv sold 688,403 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $26.40, for a total transaction of $18,173,839.20. Following the sale, the insider owned 14,252,718 shares in the company, valued at $376,271,755.20. The trade was a 4.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Vii L.P. Ftv sold 787,806 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 $20,798,078.40. Following the completion of the transaction, the insider directly owned 16,310,781 shares of the company’s stock, valued at approximately $430,604,618.40. The trade was a 4.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 11,317,604 shares of company stock worth $298,784,746 in the last 90 days. 74.26% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Mizuho increased their price target on shares of Neptune Insurance from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Wells Fargo & Company assumed coverage on Neptune Insurance in a research note on Tuesday, June 30th. They set an “overweight” rating and a $35.00 target price for the company. Raymond James Financial reaffirmed an “outperform” rating on shares of Neptune Insurance in a report on Monday, April 27th. JPMorgan Chase & Co. lifted their price target on Neptune Insurance from $26.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $34.00 price target (up from $32.00) on shares of Neptune Insurance in a report on Wednesday, July 8th. Eight equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued 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 price target of $29.18.

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.