Neptune Insurance (NYSE:NP) Major Shareholder Sells 1,632,160 Shares

Key Points

• Major shareholder Hold 101 LP BSIV sold 1.63 million Neptune Insurance shares at an average $33.22, generating $54.2 million and reducing its stake by 11.45% to 12.62 million shares.
• Neptune shares recently traded at $31.84, with a $4.37 billion market capitalization, while the stock has ranged from $14.78 to $35.15 over the past year.
• The company exceeded quarterly expectations, reporting $0.15 in EPS and $55.87 million in revenue; analysts’ consensus rating remains “Hold,” with an average price target of $31.46.

Neptune Insurance Holdings Inc. (NYSE:NP - Get Free Report) major shareholder Hold 101 Lp Bsiv sold 1,632,160 shares of the company's stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $33.22, for a total transaction of $54,220,355.20. Following the transaction, the insider owned 12,620,558 shares in the company, valued at $419,254,936.76. The trade was a 11.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Hold 101 Lp Bsiv also recently made the following trade(s):

• On Tuesday, May 19th, Hold 101 Lp Bsiv sold 688,403 shares of Neptune Insurance stock. The stock was sold at an average price of $26.40, for a total transaction of $18,173,839.20.
• On Friday, May 15th, Hold 101 Lp Bsiv sold 4,589,351 shares of Neptune Insurance stock. The shares were sold at an average price of $26.40, for a total transaction of $121,158,866.40.

Neptune Insurance Stock Performance

Shares of NYSE NP traded up $0.18 during mid-day trading on Friday, hitting $31.84. The stock had a trading volume of 998,533 shares, compared to its average volume of 740,123. The firm has a market cap of $4.37 billion and a PE ratio of 127.36. The company has a 50 day moving average of $29.61 and a two-hundred day moving average of $26.14. Neptune Insurance Holdings Inc. has a twelve month low of $14.78 and a twelve month high of $35.15.

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

Analyst Ratings Changes

NP has been the topic of several research reports. Weiss Ratings reiterated a "sell (d)" rating on shares of Neptune Insurance in a report on Friday, July 17th. Wells Fargo & Company upped their price objective on shares of Neptune Insurance from $35.00 to $37.00 and gave the company an "overweight" rating in a report on Thursday, July 23rd. Morgan Stanley set a $31.00 price objective on shares of Neptune Insurance in a research note on Thursday, July 23rd. 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 report on Thursday, July 9th. Finally, Bank of America boosted their target price on shares of Neptune Insurance from $23.00 to $26.00 and gave the company a "neutral" rating in a research report on Tuesday, April 14th. Seven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $31.46.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN acquired a new position in shares of Neptune Insurance in the fourth quarter worth about $28,000. PNC Financial Services Group Inc. acquired a new stake in shares of Neptune Insurance during the 4th quarter valued at about $125,000. Symmetry Investments LP purchased a new position in shares of Neptune Insurance in the 4th quarter valued at about $204,000. FJ Capital Management LLC purchased a new position in shares of Neptune Insurance in the 4th quarter valued at about $289,000. Finally, BIT Capital GmbH acquired a new position in Neptune Insurance in the 4th quarter worth about $292,000.

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.

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