Vii L.P. Ftv Sells 1,867,840 Shares of Neptune Insurance (NYSE:NP) Stock

Key Points

• Major shareholder Vii L.P. Ftv sold 1.87 million Neptune Insurance shares at an average price of $33.22, generating approximately $62.05 million. The sale reduced its ownership by 11.45%, leaving it with 14.44 million shares.
• Neptune reported quarterly EPS of $0.15, ahead of the $0.14 consensus estimate, while revenue of $55.87 million exceeded expectations of $52.38 million.
• Analyst sentiment is mixed, with seven Buy, seven Hold and one Sell rating; the stock has a consensus “Hold” rating and an average price target of $31.46, compared with a recent price of $31.84.

Neptune Insurance Holdings Inc. (NYSE:NP - Get Free Report) major shareholder Vii L.P. Ftv sold 1,867,840 shares of Neptune Insurance stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $33.22, for a total value of $62,049,644.80. Following the completion of the sale, the insider owned 14,442,941 shares of the company's stock, valued at $479,794,500.02. The trade was a 11.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Vii L.P. Ftv also recently made the following trade(s):

• On Tuesday, May 19th, Vii L.P. Ftv sold 787,806 shares of Neptune Insurance stock. The stock was sold at an average price of $26.40, for a total transaction of $20,798,078.40.
• On Friday, May 15th, Vii L.P. Ftv sold 5,252,044 shares of Neptune Insurance stock. The shares were sold at an average price of $26.40, for a total transaction of $138,653,961.60.

Neptune Insurance Price Performance

Shares of NYSE:NP traded up $0.18 during trading hours on Friday, hitting $31.84. The company's stock had a trading volume of 998,533 shares, compared to its average volume of 740,123. The firm's fifty day moving average price is $29.61 and its 200 day moving average price is $26.14. Neptune Insurance Holdings Inc. has a 52 week low of $14.78 and a 52 week high of $35.15. The company has a market capitalization of $4.37 billion and a price-to-earnings ratio of 127.36.

Neptune Insurance (NYSE:NP - Get Free Report) last announced 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. Neptune Insurance had a negative return on equity of 18.77% and a net margin of 21.45%.The business had revenue of $55.87 million for the quarter, compared to analysts' expectations of $52.38 million. On average, equities research analysts predict that Neptune Insurance Holdings Inc. will post 0.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

NP has been the topic of several analyst reports. Evercore restated an "outperform" rating and set a $36.00 price target on shares of Neptune Insurance in a research report on Wednesday, July 22nd. Mizuho increased their price objective on Neptune Insurance from $29.00 to $32.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. BMO Capital Markets lowered shares of Neptune Insurance from an "outperform" rating to a "market perform" rating and set a $32.00 target price on the stock. in a research note on Thursday. Keefe, Bruyette & Woods reduced their price target on Neptune Insurance from $34.00 to $33.00 and set a "market perform" rating on the stock in a report on Friday, July 24th. Finally, Raymond James Financial reiterated an "outperform" rating on shares of Neptune Insurance in a report on Monday, April 27th. Seven research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $31.46.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA acquired a new stake in Neptune Insurance in the 4th quarter valued at about $759,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Neptune Insurance during the fourth quarter worth approximately $2,068,000. Vanguard Group Inc. purchased a new stake in shares of Neptune Insurance during the fourth quarter worth approximately $47,063,000. Comerica Bank acquired a new stake in Neptune Insurance in the fourth quarter valued at approximately $1,507,000. Finally, TimesSquare Capital Management LLC acquired a new stake in Neptune Insurance in the fourth quarter valued at approximately $12,260,000.

About Neptune Insurance

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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