Emerald Mutual Fund Advisers Trust Sells 40,228 Shares of Neptune Insurance Holdings Inc. $NP

Emerald Mutual Fund Advisers Trust lowered its stake in Neptune Insurance Holdings Inc. (NYSE:NP) by 32.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 82,879 shares of the company’s stock after selling 40,228 shares during the quarter. Emerald Mutual Fund Advisers Trust owned about 0.06% of Neptune Insurance worth $2,005,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in NP. Wells Fargo & Company MN acquired a new stake in shares of Neptune Insurance during the fourth quarter worth $28,000. PNC Financial Services Group Inc. acquired a new position in Neptune Insurance in the 4th quarter worth $125,000. FNY Investment Advisers LLC bought a new position in Neptune Insurance during the 3rd quarter worth about $171,000. Symmetry Investments LP bought a new position in Neptune Insurance during the 4th quarter worth about $204,000. Finally, FJ Capital Management LLC acquired a new stake in shares of Neptune Insurance in the 4th quarter valued at about $289,000.

Neptune Insurance Trading Up 1.0%

Shares of NYSE NP opened at $32.23 on Tuesday. The firm has a market cap of $4.46 billion and a P/E ratio of 119.38. Neptune Insurance Holdings Inc. has a 1-year low of $14.78 and a 1-year high of $34.61. The business’s 50 day moving average is $28.64 and its 200-day moving average is $25.89.

Neptune Insurance (NYSE:NP) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. The firm had revenue of $37.80 million during the quarter, compared to the consensus estimate of $36.96 million. The business’s revenue was up 28.8% on a year-over-year basis. Analysts forecast that Neptune Insurance Holdings Inc. will post 0.4 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on NP. Raymond James Financial reaffirmed an “outperform” rating on shares of Neptune Insurance in a research report on Monday, April 27th. Morgan Stanley lifted their price target on Neptune Insurance from $26.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, May 21st. Wells Fargo & Company started coverage on shares of Neptune Insurance in a research report on Tuesday, June 30th. They set an “overweight” rating and a $35.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on shares of Neptune Insurance from $26.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Mizuho raised their target price on shares of Neptune Insurance from $29.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Eight analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $29.18.

Insider Transactions at Neptune Insurance

In other Neptune Insurance news, major shareholder Vii L.P. Ftv sold 787,806 shares of Neptune Insurance stock in a transaction dated Tuesday, May 19th. The shares were 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 owned 16,310,781 shares in the company, valued at $430,604,618.40. The trade was a 4.61% decrease in their position. The sale was disclosed in a document filed 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 business’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $26.40, for a total transaction of $18,173,839.20. Following the completion of the sale, the insider directly owned 14,252,718 shares of the company’s stock, valued at $376,271,755.20. This represents a 4.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 11,317,604 shares of company stock valued at $298,784,746. 74.26% of the stock is currently owned by company insiders.

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.