Swiss National Bank Buys Shares of 46,800 Neptune Insurance Holdings Inc. $NP

Swiss National Bank purchased a new stake in shares of Neptune Insurance Holdings Inc. (NYSE:NP) during the first quarter, HoldingsChannel.com reports. The fund purchased 46,800 shares of the company’s stock, valued at approximately $1,132,000.

Several other hedge funds have also recently made changes to their positions in NP. Wells Fargo & Company MN bought a new position in Neptune Insurance during the fourth quarter valued at approximately $28,000. PNC Financial Services Group Inc. purchased a new stake in Neptune Insurance in the fourth quarter worth approximately $125,000. Symmetry Investments LP bought a new stake in Neptune Insurance in the 4th quarter worth approximately $204,000. FJ Capital Management LLC bought a new stake in Neptune Insurance in the 4th quarter worth approximately $289,000. Finally, BIT Capital GmbH purchased a new stake in Neptune Insurance during the 4th quarter valued at $292,000.

Neptune Insurance Trading Up 0.6%

Shares of NP stock opened at $31.84 on Friday. Neptune Insurance Holdings Inc. has a 12 month low of $14.78 and a 12 month high of $35.15. The stock has a market cap of $4.37 billion and a P/E ratio of 127.36. The company has a 50 day simple moving average of $29.61 and a two-hundred day simple moving average of $26.14.

Neptune Insurance (NYSE:NP) last released its quarterly earnings results on Tuesday, July 21st. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.01. The business had revenue of $55.87 million for the quarter, compared to the consensus estimate of $52.38 million. Neptune Insurance had a net margin of 21.45% and a negative return on equity of 18.77%. As a group, equities analysts forecast that Neptune Insurance Holdings Inc. will post 0.4 earnings per share for the current year.

Insider Buying and Selling at Neptune Insurance

In related news, major shareholder Hold 101 Lp Bsiv sold 1,632,160 shares of the firm’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 $54,220,355.20. Following the transaction, the insider directly owned 12,620,558 shares of the company’s stock, valued at approximately $419,254,936.76. This trade represents a 11.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Vii L.P. Ftv sold 1,867,840 shares of the firm’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 directly owned 14,442,941 shares in the company, valued at approximately $479,794,500.02. This represents a 11.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 14,817,604 shares of company stock valued at $415,054,746 over the last 90 days. 74.26% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NP. Piper Sandler increased their price target on Neptune Insurance from $30.00 to $39.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Bank of America lifted their price objective 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 price objective on Neptune Insurance in a research report on Thursday, July 23rd. Keefe, Bruyette & Woods lowered their target price on Neptune Insurance from $34.00 to $33.00 and set a “market perform” rating on the stock in a report on Friday, July 24th. Finally, BMO Capital Markets cut Neptune Insurance from an “outperform” rating to a “market perform” rating and set a $32.00 target price on the stock. in a research report on Thursday. Seven investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Neptune Insurance presently has a consensus rating of “Hold” and an average target price of $31.46.

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.