Vanguard Group Inc. Purchases Shares of 1,613,955 Neptune Insurance Holdings Inc. $NP

Vanguard Group Inc. acquired a new position in Neptune Insurance Holdings Inc. (NYSE:NP) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,613,955 shares of the company’s stock, valued at approximately $47,063,000. Vanguard Group Inc. owned 1.17% of Neptune Insurance at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Neptune Insurance during the fourth quarter worth $2,068,000. Massachusetts Financial Services Co. MA purchased a new position in shares of Neptune Insurance in the fourth quarter worth about $759,000. FNY Investment Advisers LLC purchased a new position in shares of Neptune Insurance in the third quarter worth about $171,000. Maltese Capital Management LLC acquired a new stake in Neptune Insurance during the third quarter worth about $3,200,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in Neptune Insurance during the third quarter worth about $792,000.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NP. Morgan Stanley dropped their price target on shares of Neptune Insurance from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 4th. Keefe, Bruyette & Woods lifted their price target on shares of Neptune Insurance from $28.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. BMO Capital Markets upgraded shares of Neptune Insurance from a “market perform” rating to an “outperform” rating and dropped their price target for the company from $25.00 to $20.00 in a research report on Friday, February 13th. Bank of America lifted their price target on shares of Neptune Insurance from $23.00 to $26.00 and gave the company a “neutral” rating in a research report on Tuesday, April 14th. Finally, Piper Sandler dropped their price target 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. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.42.

Neptune Insurance Trading Up 1.7%

Neptune Insurance stock opened at $27.92 on Friday. The stock has a market cap of $3.86 billion and a P/E ratio of 103.41. The company has a fifty day simple moving average of $24.87 and a 200-day simple moving average of $24.99. Neptune Insurance Holdings Inc. has a 12-month low of $14.78 and a 12-month high of $33.23.

Neptune Insurance (NYSE:NP) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. The firm had revenue of $37.80 million for the quarter, compared to analysts’ expectations of $36.96 million. The firm’s quarterly revenue was up 28.8% on a year-over-year basis. As a group, sell-side analysts forecast that Neptune Insurance Holdings Inc. will post 0.39 earnings per share for the current fiscal year.

Insider Activity at Neptune Insurance

In related news, CEO Trevor R. Burgess acquired 50,000 shares of Neptune Insurance stock in a transaction dated Friday, March 13th. The stock was acquired at an average price of $18.71 per share, for a total transaction of $935,500.00. Following the transaction, the chief executive officer owned 2,082,964 shares of the company’s stock, valued at $38,972,256.44. This represents a 2.46% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Warren Vostrizansky acquired 23,000 shares of Neptune Insurance stock in a transaction dated Friday, February 20th. The shares were bought at an average price of $21.50 per share, with a total value of $494,500.00. Following the transaction, the director directly owned 23,000 shares in the company, valued at approximately $494,500. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 74.26% of the stock is currently owned by insiders.

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.