Capital International Investors Buys Shares of 700,000 Neptune Insurance Holdings Inc. $NP

Capital International Investors bought a new stake in shares of Neptune Insurance Holdings Inc. (NYSE:NP) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 700,000 shares of the company’s stock, valued at approximately $20,412,000.

Several other large investors have also modified their holdings of the business. PNC Financial Services Group Inc. purchased a new position in shares of Neptune Insurance during the fourth quarter valued at approximately $125,000. FNY Investment Advisers LLC purchased a new stake in shares of Neptune Insurance in the third quarter valued at approximately $171,000. BIT Capital GmbH purchased a new stake in shares of Neptune Insurance in the fourth quarter valued at approximately $292,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Neptune Insurance in the fourth quarter valued at approximately $759,000. Finally, Comerica Bank purchased a new stake in shares of Neptune Insurance in the fourth quarter valued at approximately $1,507,000.

Insider Buying and Selling

In related news, major shareholder Vii L.P. Ftv sold 5,252,044 shares of the business’s 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 $138,653,961.60. Following the completion of the transaction, the insider owned 17,098,587 shares of the company’s stock, valued at $451,402,696.80. The trade was a 23.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Hold 101 Lp Bsiv sold 4,589,351 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $26.40, for a total transaction of $121,158,866.40. Following the completion of the transaction, the insider directly owned 14,941,121 shares of the company’s stock, valued at $394,445,594.40. This trade represents a 23.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 11,317,604 shares of company stock valued at $298,784,746 over the last 90 days. Corporate insiders own 74.26% of the company’s stock.

Neptune Insurance Stock Up 2.3%

Shares of NYSE:NP opened at $25.18 on Wednesday. The company has a market capitalization of $3.48 billion and a price-to-earnings ratio of 93.25. Neptune Insurance Holdings Inc. has a 52 week low of $14.78 and a 52 week high of $33.23. The firm has a 50 day moving average of $26.60 and a 200 day moving average of $25.16.

Neptune Insurance (NYSE:NP) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. The business had revenue of $37.80 million during the quarter, compared to the consensus estimate of $36.96 million. Neptune Insurance’s revenue for the quarter was up 28.8% compared to the same quarter last year. On average, sell-side analysts expect that Neptune Insurance Holdings Inc. will post 0.4 EPS for the current year.

Analyst Ratings Changes

NP has been the subject of a number of research reports. Mizuho boosted their price target on Neptune Insurance from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Monday, April 13th. Weiss Ratings reiterated a “sell (d)” rating on shares of Neptune Insurance in a report on Monday, April 20th. Evercore reiterated an “outperform” rating on shares of Neptune Insurance in a report on Friday, May 8th. Raymond James Financial reiterated an “outperform” rating on shares of Neptune Insurance in a report on Monday, April 27th. Finally, Morgan Stanley boosted their price target on Neptune Insurance from $26.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, May 21st. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $27.73.

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.