Capital World Investors Makes New $32.09 Million Investment in Neptune Insurance Holdings Inc. $NP

Capital World Investors bought a new position in shares of Neptune Insurance Holdings Inc. (NYSE:NP) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,100,500 shares of the company’s stock, valued at approximately $32,091,000. Capital World Investors owned approximately 0.80% of Neptune Insurance as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the company. Capital International Investors purchased a new stake in Neptune Insurance during the fourth quarter worth $20,412,000. BIT Capital GmbH purchased a new stake in Neptune Insurance during the fourth quarter worth $292,000. TD Asset Management Inc purchased a new stake in Neptune Insurance during the fourth quarter worth $3,221,000. Goldman Sachs Group Inc. purchased a new stake in Neptune Insurance during the fourth quarter worth $6,407,000. Finally, Norges Bank purchased a new stake in Neptune Insurance during the fourth quarter worth $2,479,000.

Analyst Upgrades and Downgrades

A number of analysts have commented on NP shares. Keefe, Bruyette & Woods boosted their target price on Neptune Insurance from $28.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Piper Sandler decreased their target price on Neptune Insurance from $33.00 to $30.00 and set an “overweight” rating on the stock in a research report on Thursday, February 19th. Morgan Stanley boosted their target price on Neptune Insurance from $26.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 21st. Weiss Ratings reiterated a “sell (d)” rating on shares of Neptune Insurance in a research report on Monday, April 20th. Finally, BMO Capital Markets upgraded Neptune Insurance from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $25.00 to $20.00 in a research report on Friday, February 13th. Eight analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $27.73.

Insider Activity

In other news, major shareholder Vii L.P. Ftv sold 787,806 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $26.40, for a total value of $20,798,078.40. Following the sale, the insider directly owned 16,310,781 shares in the company, valued at $430,604,618.40. This represents a 4.61% 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. Also, major shareholder Hold 101 Lp Bsiv sold 688,403 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $26.40, for a total value of $18,173,839.20. Following the completion of the sale, the insider owned 14,252,718 shares in the company, valued at $376,271,755.20. This represents a 4.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 11,317,604 shares of company stock worth $298,784,746 over the last three months. 74.26% of the stock is currently owned by corporate insiders.

Neptune Insurance Stock Up 2.3%

Shares of NYSE:NP opened at $25.18 on Wednesday. Neptune Insurance Holdings Inc. has a 52-week low of $14.78 and a 52-week high of $33.23. The stock’s fifty day simple moving average is $26.60 and its 200-day simple moving average is $25.16. The company has a market capitalization of $3.48 billion and a P/E ratio of 93.25.

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