CenterBook Partners LP Takes Position in Neptune Insurance Holdings Inc. $NP

CenterBook Partners LP acquired a new stake in shares of Neptune Insurance Holdings Inc. (NYSE:NP) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 41,346 shares of the company’s stock, valued at approximately $1,206,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. purchased a new position in shares of Neptune Insurance during the fourth quarter worth approximately $47,063,000. Capital World Investors bought a new position in Neptune Insurance in the fourth quarter worth approximately $32,091,000. JPMorgan Chase & Co. purchased a new position in Neptune Insurance during the 4th quarter worth $27,695,000. Capital International Investors bought a new stake in Neptune Insurance during the 4th quarter valued at $20,412,000. Finally, TimesSquare Capital Management LLC bought a new stake in Neptune Insurance during the 4th quarter valued at $12,260,000.

Analyst Ratings Changes

NP has been the topic of several research reports. Bank of America raised their price target on Neptune Insurance from $23.00 to $26.00 and gave the company a “neutral” rating in a research note on Tuesday, April 14th. Morgan Stanley raised their target price on shares of Neptune Insurance from $26.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. BMO Capital Markets upgraded shares of Neptune Insurance from a “market perform” rating to an “outperform” rating and reduced their price target for the company from $25.00 to $20.00 in a report on Friday, February 13th. Keefe, Bruyette & Woods upped their price target on shares of Neptune Insurance from $28.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Neptune Insurance in a report on Monday, April 20th. Eight analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $27.73.

Neptune Insurance Stock Up 7.3%

Shares of Neptune Insurance stock opened at $26.98 on Thursday. The company has a market cap of $3.73 billion and a P/E ratio of 99.94. The firm’s 50 day moving average price is $26.67 and its 200-day moving average price is $25.19. Neptune Insurance Holdings Inc. has a 52-week low of $14.78 and a 52-week high of $33.23.

Neptune Insurance (NYSE:NP) last announced its earnings results on Wednesday, April 22nd. The company reported $0.09 earnings per share for the quarter, meeting the consensus estimate of $0.09. The firm had revenue of $37.80 million during the quarter, compared to analyst estimates of $36.96 million. The business’s revenue for the quarter was up 28.8% compared to the same quarter last year. As a group, equities research analysts forecast that Neptune Insurance Holdings Inc. will post 0.4 EPS for the current fiscal year.

Insider Transactions at Neptune Insurance

In other Neptune Insurance news, major shareholder Hold 101 Lp Bsiv sold 688,403 shares of the stock in a transaction dated Tuesday, May 19th. The stock was 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 directly owned 14,252,718 shares in the company, valued at approximately $376,271,755.20. This trade represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Vii L.P. Ftv sold 787,806 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider directly owned 16,310,781 shares of the company’s stock, valued at approximately $430,604,618.40. This represents a 4.61% 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 in the last quarter. 74.26% of the stock is currently owned by corporate insiders.

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.