TimesSquare Capital Management LLC Invests $12.26 Million in Neptune Insurance Holdings Inc. $NP

TimesSquare Capital Management LLC acquired a new stake in Neptune Insurance Holdings Inc. (NYSE:NP) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 420,434 shares of the company’s stock, valued at approximately $12,260,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FNY Investment Advisers LLC bought a new stake in Neptune Insurance in the third quarter valued at about $171,000. Massachusetts Financial Services Co. MA bought a new stake in Neptune Insurance in the fourth quarter valued at about $759,000. Emerald Mutual Fund Advisers Trust bought a new stake in Neptune Insurance in the third quarter valued at about $792,000. Comerica Bank bought a new stake in Neptune Insurance in the fourth quarter valued at about $1,507,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Neptune Insurance in the fourth quarter valued at about $2,068,000.

Neptune Insurance Stock Down 1.9%

Shares of NP stock opened at $26.70 on Wednesday. The business has a 50 day moving average of $25.13 and a two-hundred day moving average of $25.00. Neptune Insurance Holdings Inc. has a 52 week low of $14.78 and a 52 week high of $33.23. The company has a market cap of $3.69 billion and a P/E ratio of 98.90.

Neptune Insurance (NYSE:NP) last issued its earnings results on Wednesday, April 22nd. The company reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. The company had revenue of $37.80 million during the quarter, compared to analyst estimates of $36.96 million. The business’s quarterly revenue was up 28.8% compared to the same quarter last year. Analysts expect that Neptune Insurance Holdings Inc. will post 0.39 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Trevor R. Burgess bought 50,000 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was bought at an average cost of $18.71 per share, for a total transaction of $935,500.00. Following the completion of the purchase, the chief executive officer directly owned 2,082,964 shares in the company, valued at approximately $38,972,256.44. The trade was a 2.46% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Hold 101 Lp Bsiv sold 4,589,351 shares of Neptune Insurance stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $26.40, for a total value of $121,158,866.40. Following the completion of the transaction, the insider owned 14,941,121 shares of the company’s stock, valued at approximately $394,445,594.40. The trade was a 23.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 11,317,604 shares of company stock valued at $298,784,746. 74.26% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. BMO Capital Markets raised Neptune Insurance from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $25.00 to $20.00 in a report on Friday, February 13th. Piper Sandler lowered their price objective on Neptune Insurance from $33.00 to $30.00 and set an “overweight” rating for the company in a report on Thursday, February 19th. Morgan Stanley lowered their price objective on Neptune Insurance from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Wednesday, March 4th. Mizuho boosted their price objective on Neptune Insurance from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Monday, April 13th. Finally, Keefe, Bruyette & Woods boosted their price objective on Neptune Insurance from $28.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $27.42.

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.