Trupanion, Inc. $TRUP Shares Newly Acquired by Bank of America Corp DE

Key Points

• Bank of America acquired 575,764 Trupanion shares during the second quarter, valued at approximately $14.3 million and representing a 1.31% stake.
• Trupanion reported quarterly EPS of $0.16, exceeding the $0.11 analyst consensus, while revenue rose 11.1% year over year to $392.93 million.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and a $39.20 price target; insiders sold 13,046 shares worth approximately $381,210 over the past 90 days.

Bank of America Corp DE bought a new position in shares of Trupanion, Inc. (NASDAQ:TRUP - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 575,764 shares of the financial services provider's stock, valued at approximately $14,262,000. Bank of America Corp DE owned 1.31% of Trupanion as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of TRUP. Illinois Municipal Retirement Fund lifted its stake in Trupanion by 2.3% in the first quarter. Illinois Municipal Retirement Fund now owns 17,819 shares of the financial services provider's stock worth $456,000 after acquiring an additional 406 shares during the period. Kelleher Financial Advisors purchased a new position in Trupanion during the second quarter valued at approximately $42,000. Parallel Advisors LLC increased its holdings in Trupanion by 1,831.9% during the first quarter. Parallel Advisors LLC now owns 1,816 shares of the financial services provider's stock valued at $47,000 after buying an additional 1,722 shares during the period. Quantbot Technologies LP bought a new position in Trupanion in the second quarter worth approximately $89,000. Finally, Fifth Third Bancorp raised its stake in Trupanion by 2,911.1% in the first quarter. Fifth Third Bancorp now owns 7,588 shares of the financial services provider's stock worth $194,000 after buying an additional 7,336 shares in the last quarter.

Trupanion Stock Performance

Shares of Trupanion stock opened at $23.16 on Friday. Trupanion, Inc. has a one year low of $21.16 and a one year high of $46.98. The business has a 50-day simple moving average of $27.05 and a 200-day simple moving average of $25.60. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.77 and a current ratio of 1.77. The company has a market cap of $1.02 billion, a PE ratio of 43.70, a P/E/G ratio of 1.52 and a beta of 1.45.

Trupanion (NASDAQ:TRUP - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.05. Trupanion had a return on equity of 5.96% and a net margin of 1.53%.The company had revenue of $392.93 million during the quarter, compared to the consensus estimate of $389.72 million. During the same period in the previous year, the business earned $0.22 EPS. Trupanion's revenue for the quarter was up 11.1% on a year-over-year basis. On average, equities research analysts forecast that Trupanion, Inc. will post 0.63 EPS for the current fiscal year.

Insider Activity at Trupanion

In other Trupanion news, CFO Fawwad Qureshi sold 6,111 shares of the firm's stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $30.01, for a total transaction of $183,391.11. Following the transaction, the chief financial officer owned 4,230 shares of the company's stock, valued at approximately $126,942.30. This trade represents a 59.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO John R. Gallagher sold 3,604 shares of Trupanion stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $29.70, for a total value of $107,038.80. Following the sale, the chief operating officer owned 33,742 shares in the company, valued at $1,002,137.40. This trade represents a 9.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 13,046 shares of company stock valued at $381,210 over the last ninety days. Insiders own 5.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TRUP. Weiss Ratings lowered Trupanion from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, September 10th. Atlantic Securities set a $42.00 target price on Trupanion in a research note on Wednesday, July 15th. Zacks Research downgraded shares of Trupanion from a "strong-buy" rating to a "hold" rating in a report on Monday, August 24th. Stifel Nicolaus lifted their price target on shares of Trupanion from $28.00 to $29.00 and gave the stock a "hold" rating in a report on Thursday, August 20th. Finally, Piper Sandler downgraded Trupanion from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $45.00 to $32.00 in a research report on Wednesday, August 26th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $39.20.

About Trupanion

Trupanion, Inc is a pet insurance company that provides medical coverage for cats and dogs. Its subscription-based policies are designed to help pet owners manage the cost of eligible veterinary care, including coverage for unexpected illnesses and injuries. Depending on the policy and jurisdiction, coverage may include diagnostic tests, surgeries, hospital stays and prescription medications, subject to applicable terms, exclusions and deductibles.

The company also develops technology intended to simplify the relationship between pet owners, veterinarians and insurers.

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