Neptune Insurance (NYSE:NP) Major Shareholder Vii L.P. Ftv Sells 1,867,840 Shares of Stock

Neptune Insurance Holdings Inc. (NYSE:NP) major shareholder Vii L.P. Ftv sold 1,867,840 shares of the company’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 sale, the insider owned 14,442,941 shares of the company’s stock, valued at approximately $479,794,500.02. This represents a 11.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Vii L.P. Ftv also recently made the following trade(s):

• On Tuesday, May 19th, Vii L.P. Ftv sold 787,806 shares of Neptune Insurance stock. The shares were sold at an average price of $26.40, for a total value of $20,798,078.40.
• On Friday, May 15th, Vii L.P. Ftv sold 5,252,044 shares of Neptune Insurance stock. The stock was sold at an average price of $26.40, for a total transaction of $138,653,961.60.

Neptune Insurance Trading Up 0.6%

Shares of NP stock opened at $31.84 on Friday. The business’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 12 month low of $14.78 and a 12 month high of $35.15. The firm has a market capitalization of $4.37 billion and a price-to-earnings ratio of 127.36.

Neptune Insurance (NYSE:NP) last announced its earnings results on Tuesday, July 21st. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.14 by $0.01. Neptune Insurance had a negative return on equity of 18.77% and a net margin of 21.45%.The business had revenue of $55.87 million for the quarter, compared to analysts’ expectations of $52.38 million. On average, sell-side analysts predict that Neptune Insurance Holdings Inc. will post 0.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Neptune Insurance

Large investors have recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA acquired a new position in Neptune Insurance during the 4th quarter valued at about $759,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Neptune Insurance in the fourth quarter worth approximately $2,068,000. Vanguard Group Inc. bought a new position in shares of Neptune Insurance in the fourth quarter valued at approximately $47,063,000. Comerica Bank purchased a new position in shares of Neptune Insurance during the fourth quarter valued at approximately $1,507,000. Finally, TimesSquare Capital Management LLC purchased a new position in shares of Neptune Insurance during the fourth quarter valued at approximately $12,260,000.

Analyst Upgrades and Downgrades

Several analysts have recently commented on NP shares. Mizuho raised their price objective 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. Weiss Ratings restated a “sell (d)” rating on shares of Neptune Insurance in a research note on Friday, July 17th. Evercore reaffirmed an “outperform” rating and issued a $36.00 target price on shares of Neptune Insurance in a research report on Wednesday, July 22nd. Keefe, Bruyette & Woods cut their price target 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, Morgan Stanley set a $31.00 price objective on Neptune Insurance in a research note on Thursday, July 23rd. Seven research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $31.46.

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.