CenterBook Partners LP Purchases Shares of 41,346 Neptune Insurance Holdings Inc. $NP

CenterBook Partners LP acquired a new position in shares of Neptune Insurance Holdings Inc. (NYSE:NP) in the 4th quarter, Holdings Channel reports. The fund acquired 41,346 shares of the company’s stock, valued at approximately $1,206,000.

A number of other large investors have also recently made changes to their positions in the stock. PNC Financial Services Group Inc. acquired a new position in shares of Neptune Insurance in the 4th quarter valued at $125,000. FNY Investment Advisers LLC purchased a new stake in Neptune Insurance during the 3rd quarter valued at about $171,000. BIT Capital GmbH purchased a new stake in Neptune Insurance during the 4th quarter valued at about $292,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Neptune Insurance in the fourth quarter valued at about $759,000. Finally, Comerica Bank purchased a new position in shares of Neptune Insurance in the fourth quarter worth about $1,507,000.

Neptune Insurance Price Performance

Shares of NYSE NP opened at $26.98 on Thursday. The stock has a market capitalization of $3.73 billion and a price-to-earnings ratio of 99.94. The firm’s 50 day simple moving average is $26.67 and its 200-day simple moving average is $25.19. Neptune Insurance Holdings Inc. has a 12 month low of $14.78 and a 12 month high of $33.23.

Neptune Insurance (NYSE:NP) last posted its 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 analyst estimates of $36.96 million. The company’s quarterly revenue was up 28.8% on a year-over-year basis. Analysts anticipate that Neptune Insurance Holdings Inc. will post 0.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on NP shares. Raymond James Financial reiterated an “outperform” rating on shares of Neptune Insurance in a research report on Monday, April 27th. Keefe, Bruyette & Woods upped their price objective on shares of Neptune Insurance from $28.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Mizuho raised their target price on shares of Neptune Insurance from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Monday, April 13th. Morgan Stanley boosted their target price on shares of Neptune Insurance from $26.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. Finally, Piper Sandler cut their price target on Neptune Insurance from $33.00 to $30.00 and set an “overweight” rating on the stock in a research report on Thursday, February 19th. Eight investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.73.

Insiders Place Their Bets

In other news, CEO Trevor R. Burgess acquired 50,000 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was acquired at an average price of $18.71 per share, for a total transaction of $935,500.00. Following the completion of the transaction, the chief executive officer owned 2,082,964 shares in the company, valued at approximately $38,972,256.44. The trade was a 2.46% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Vii L.P. Ftv sold 5,252,044 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $26.40, for a total value of $138,653,961.60. Following the sale, the insider owned 17,098,587 shares in the company, valued at $451,402,696.80. This trade represents a 23.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 11,317,604 shares of company stock worth $298,784,746. Company insiders own 74.26% of the company’s stock.

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.