Maltese Capital Management LLC Acquires 37,500 Shares of Neptune Insurance Holdings Inc. $NP

Maltese Capital Management LLC lifted its holdings in shares of Neptune Insurance Holdings Inc. (NYSE:NP) by 37.5% in the 4th quarter, Holdings Channel reports. The firm owned 137,500 shares of the company’s stock after acquiring an additional 37,500 shares during the period. Maltese Capital Management LLC’s holdings in Neptune Insurance were worth $4,009,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Wells Fargo & Company MN purchased a new stake in Neptune Insurance in the fourth quarter valued at approximately $28,000. PNC Financial Services Group Inc. purchased a new stake in shares of Neptune Insurance during the 4th quarter valued at $125,000. FNY Investment Advisers LLC bought a new stake in shares of Neptune Insurance during the 3rd quarter worth $171,000. FJ Capital Management LLC purchased a new position in Neptune Insurance in the fourth quarter worth $289,000. Finally, BIT Capital GmbH purchased a new position in Neptune Insurance in the fourth quarter worth $292,000.

Neptune Insurance Trading Up 0.2%

NP opened at $27.47 on Tuesday. Neptune Insurance Holdings Inc. has a 12 month low of $14.78 and a 12 month high of $33.23. The business’s 50-day moving average price is $26.83 and its 200-day moving average price is $25.27. The company has a market cap of $3.80 billion and a P/E ratio of 101.72.

Neptune Insurance (NYSE:NP) last issued its earnings results on Wednesday, April 22nd. The company reported $0.09 earnings per share for the quarter, meeting the consensus estimate of $0.09. The company had revenue of $37.80 million for the quarter, compared to analysts’ expectations of $36.96 million. The business’s revenue was up 28.8% on a year-over-year basis. Equities research analysts forecast that Neptune Insurance Holdings Inc. will post 0.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NP has been the topic of a number of research reports. Piper Sandler lowered 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. Mizuho increased their price objective on Neptune Insurance from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Monday, April 13th. Evercore reissued an “outperform” rating on shares of Neptune Insurance in a report on Friday, May 8th. Morgan Stanley upped their target price on Neptune Insurance from $26.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 21st. Finally, Bank of America increased their price target 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. Eight equities research 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.73.

Insider Activity at Neptune Insurance

In related news, major shareholder Hold 101 Lp Bsiv sold 688,403 shares of Neptune Insurance stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $26.40, for a total value of $18,173,839.20. Following the transaction, the insider directly owned 14,252,718 shares of the company’s stock, valued at $376,271,755.20. The trade was a 4.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Vii L.P. Ftv sold 787,806 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $26.40, for a total transaction of $20,798,078.40. Following the completion of the sale, the insider directly owned 16,310,781 shares in the company, valued at approximately $430,604,618.40. This trade represents a 4.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 11,317,604 shares of company stock valued at $298,784,746 in the last quarter. Corporate insiders own 74.26% of the company’s stock.

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.