45,000 Shares in Neptune Insurance Holdings Inc. $NP Acquired by BlueCrest Capital Management Ltd

Key Points

• BlueCrest Capital Management acquired 45,000 shares of Neptune Insurance in the second quarter, valued at approximately $1.42 million. Other institutional investors, including Vanguard and Azora Capital, also recently established or expanded positions.
• Insiders sold 3.6 million shares worth approximately $119.4 million over the past 90 days, while insiders still retain a substantial 74.26% ownership stake.
• Neptune reported quarterly EPS of $0.15, exceeding estimates by $0.01, and revenue of $55.87 million above expectations. The stock was recently down 1.2% at $31.67, with analysts holding a consensus “Moderate Buy” rating and an average price target of $31.82.

BlueCrest Capital Management Ltd purchased a new stake in Neptune Insurance Holdings Inc. (NYSE:NP - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 45,000 shares of the company's stock, valued at approximately $1,418,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sei Investments Co. boosted its position in Neptune Insurance by 203.3% in the first quarter. Sei Investments Co. now owns 59,114 shares of the company's stock valued at $1,430,000 after buying an additional 39,626 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Neptune Insurance by 874.4% in the 1st quarter. Renaissance Technologies LLC now owns 160,703 shares of the company's stock worth $3,887,000 after acquiring an additional 144,210 shares in the last quarter. Vanguard Group Inc. bought a new stake in Neptune Insurance during the 4th quarter worth approximately $47,063,000. Azora Capital LP acquired a new stake in Neptune Insurance during the 4th quarter valued at $21,695,000. Finally, Bregal Sagemount IV General Partner Jersey Ltd acquired a new stake in Neptune Insurance during the 4th quarter valued at $569,509,000.

Insider Buying and Selling at Neptune Insurance

In other news, major shareholder Hold 101 Lp Bsiv sold 1,632,160 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $33.22, for a total value of $54,220,355.20. Following the transaction, the insider owned 12,620,558 shares of the company's stock, valued at $419,254,936.76. This represents a 11.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO James Steiner sold 57,012 shares of the firm's stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $31.71, for a total value of $1,807,850.52. Following the completion of the transaction, the chief financial officer owned 3,749,050 shares in the company, valued at $118,882,375.50. This represents a 1.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 3,600,000 shares of company stock worth $119,413,918. Insiders own 74.26% of the company's stock.

Neptune Insurance Stock Down 1.2%

Neptune Insurance stock opened at $31.67 on Thursday. The stock has a market cap of $4.35 billion and a price-to-earnings ratio of 126.70. Neptune Insurance Holdings Inc. has a 12-month low of $14.78 and a 12-month high of $35.15. The business's 50-day simple moving average is $32.23 and its 200 day simple moving average is $27.91.

Neptune Insurance (NYSE:NP - Get Free Report) last issued its earnings results on Tuesday, July 21st. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.01. The company had revenue of $55.87 million for the quarter, compared to analyst estimates of $52.38 million. Neptune Insurance had a net margin of 21.45% and a negative return on equity of 18.77%. As a group, sell-side analysts expect that Neptune Insurance Holdings Inc. will post 0.4 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on NP shares. BMO Capital Markets cut Neptune Insurance from an "outperform" rating to a "market perform" rating and set a $32.00 target price on the stock. in a report on Thursday, July 30th. JPMorgan Chase & Co. upped their price target on shares of Neptune Insurance from $26.00 to $30.00 and gave the stock a "neutral" rating in a research report on Monday, July 13th. Evercore restated an "outperform" rating and issued a $36.00 price objective on shares of Neptune Insurance in a research report on Wednesday, July 22nd. Piper Sandler boosted their target price on shares of Neptune Insurance from $30.00 to $39.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th. Finally, Wells Fargo & Company increased their price target on shares of Neptune Insurance from $35.00 to $37.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. Eight analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, Neptune Insurance presently has an average rating of "Moderate Buy" and a consensus price target of $31.82.

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.

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