Swiss National Bank Takes $1.13 Million Position in Neptune Insurance Holdings Inc. $NP

Swiss National Bank bought a new position in Neptune Insurance Holdings Inc. (NYSE:NP) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 46,800 shares of the company’s stock, valued at approximately $1,132,000.

Several other institutional investors also recently modified their holdings of NP. Fifth Third Bancorp purchased a new position in Neptune Insurance during the 1st quarter valued at about $1,531,000. Y Intercept Hong Kong Ltd purchased a new stake in Neptune Insurance in the first quarter worth about $359,000. T. Rowe Price Investment Management Inc. purchased a new stake in Neptune Insurance in the fourth quarter worth about $133,488,000. XTX Topco Ltd bought a new position in shares of Neptune Insurance during the fourth quarter valued at approximately $361,000. Finally, Zimmer Partners LP purchased a new position in shares of Neptune Insurance during the fourth quarter valued at approximately $3,645,000.

Insider Buying and Selling at Neptune Insurance

In other news, major shareholder Vii L.P. Ftv sold 1,867,840 shares of the business’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $33.22, for a total value of $62,049,644.80. Following the completion of the transaction, the insider owned 14,442,941 shares in the company, valued at $479,794,500.02. The trade was a 11.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Hold 101 Lp Bsiv sold 1,632,160 shares of the company’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $33.22, for a total value of $54,220,355.20. Following the transaction, the insider directly owned 12,620,558 shares in the company, valued at approximately $419,254,936.76. The trade was a 11.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 14,817,604 shares of company stock worth $415,054,746. Company insiders own 74.26% of the company’s stock.

Analysts Set New Price Targets

NP has been the topic of several recent research reports. Mizuho upped their price target on Neptune Insurance from $29.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. BMO Capital Markets cut Neptune Insurance from an “outperform” rating to a “market perform” rating and set a $32.00 price objective for the company. in a research note on Thursday. Bank of America boosted their target price on Neptune Insurance from $23.00 to $26.00 and gave the stock a “neutral” rating in a report on Tuesday, April 14th. Morgan Stanley set a $31.00 target price on Neptune Insurance in a research note on Thursday, July 23rd. Finally, Evercore restated an “outperform” rating and set a $36.00 price target on shares of Neptune Insurance in a report on Wednesday, July 22nd. Seven research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $31.46.

Neptune Insurance Stock Performance

Shares of NYSE NP opened at $31.84 on Friday. The firm’s 50 day moving average price is $29.61 and its 200-day moving average price is $26.14. Neptune Insurance Holdings Inc. has a 52-week low of $14.78 and a 52-week high of $35.15. The company has a market cap of $4.37 billion and a PE ratio of 127.36.

Neptune Insurance (NYSE:NP) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $0.15 earnings per share for the quarter, beating 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 company had revenue of $55.87 million during the quarter, compared to the consensus estimate of $52.38 million. On average, analysts forecast that Neptune Insurance Holdings Inc. will post 0.4 earnings per share for the current fiscal year.

Neptune Insurance 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.