California State Teachers Retirement System Takes Position in Neptune Insurance Holdings Inc. $NP

California State Teachers Retirement System acquired a new position in shares of Neptune Insurance Holdings Inc. (NYSE:NP) in the 1st quarter, HoldingsChannel reports. The institutional investor acquired 21,634 shares of the company’s stock, valued at approximately $523,000.

A number of other hedge funds have also modified their holdings of the stock. Bregal Sagemount IV General Partner Jersey Ltd acquired a new stake in shares of Neptune Insurance during the fourth quarter worth $569,509,000. T. Rowe Price Investment Management Inc. acquired a new position in shares of Neptune Insurance in the 4th quarter valued at $133,488,000. Vanguard Group Inc. purchased a new position in Neptune Insurance in the 4th quarter worth about $47,063,000. Capital World Investors purchased a new position in Neptune Insurance in the 4th quarter worth about $32,091,000. Finally, Balyasny Asset Management L.P. acquired a new stake in Neptune Insurance during the 4th quarter worth about $29,051,000.

Neptune Insurance Price Performance

Shares of NYSE:NP opened at $31.82 on Friday. Neptune Insurance Holdings Inc. has a fifty-two week low of $14.78 and a fifty-two week high of $35.15. The business has a 50-day moving average of $30.65 and a two-hundred day moving average of $26.56. The stock has a market capitalization of $4.37 billion and a P/E ratio of 127.30.

Neptune Insurance (NYSE:NP) last issued its quarterly earnings data on Tuesday, July 21st. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $52.38 million. As a group, research analysts expect that Neptune Insurance Holdings Inc. will post 0.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NP. Wells Fargo & Company lifted their target price on shares of Neptune Insurance from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Piper Sandler boosted their price objective on shares of Neptune Insurance from $30.00 to $39.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Mizuho increased their target price on shares of Neptune Insurance from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Weiss Ratings upgraded shares of Neptune Insurance from a “sell (d)” rating to a “hold (c)” rating in a report on Friday, July 31st. Finally, Morgan Stanley set a $31.00 price target on shares of Neptune Insurance in a research note on Thursday, July 23rd. Seven equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $31.46.

Insiders Place Their Bets

In related news, major shareholder Hold 101 Lp Bsiv sold 1,632,160 shares of the firm’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $33.22, for a total value of $54,220,355.20. Following the transaction, the insider directly owned 12,620,558 shares in the company, valued at approximately $419,254,936.76. This trade represents a 11.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Vii L.P. Ftv sold 1,867,840 shares of Neptune Insurance stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $33.22, for a total transaction of $62,049,644.80. Following the completion of the transaction, the insider owned 14,442,941 shares in the company, valued at $479,794,500.02. This trade represents a 11.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 5,076,209 shares of company stock valued at $158,385,835 over the last 90 days. 74.26% of the stock is currently owned by company insiders.

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.