Massachusetts Financial Services Co. MA Buys New Shares in Neptune Insurance Holdings Inc. $NP
by Doug Wharley · The Cerbat GemMassachusetts Financial Services Co. MA bought a new stake in shares of Neptune Insurance Holdings Inc. (NYSE:NP – Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 26,028 shares of the company’s stock, valued at approximately $759,000.
Several other institutional investors and hedge funds also recently bought and sold shares of NP. FNY Investment Advisers LLC purchased a new position in Neptune Insurance during the third quarter valued at $171,000. Emerald Mutual Fund Advisers Trust purchased a new position in Neptune Insurance during the third quarter valued at $792,000. Finally, Maltese Capital Management LLC purchased a new position in shares of Neptune Insurance in the third quarter valued at about $3,200,000.
Neptune Insurance Stock Up 3.3%
Shares of Neptune Insurance stock opened at $27.59 on Friday. The stock’s 50-day simple moving average is $22.37 and its 200-day simple moving average is $25.01. Neptune Insurance Holdings Inc. has a 52 week low of $14.78 and a 52 week high of $33.23. The company has a market capitalization of $3.81 billion and a price-to-earnings ratio of 125.39.
Neptune Insurance (NYSE:NP – Get Free Report) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. The business had revenue of $43.77 million during the quarter, compared to analysts’ expectations of $39.42 million.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on NP shares. Weiss Ratings started coverage on Neptune Insurance in a research report on Wednesday, December 24th. They issued a “sell (d)” rating on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on Neptune Insurance from $29.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, December 22nd. Keefe, Bruyette & Woods boosted their price objective on Neptune Insurance from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Tuesday, April 7th. BMO Capital Markets upgraded Neptune Insurance from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $25.00 to $20.00 in a research report on Friday, February 13th. Finally, Evercore set a $30.00 price objective on Neptune Insurance in a research report on Thursday, February 19th. Eight analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $27.12.
Check Out Our Latest Analysis on NP
Insider Transactions at Neptune Insurance
In other news, CEO Trevor R. Burgess bought 50,000 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were bought at an average cost 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 of the company’s stock, valued at approximately $38,972,256.44. This represents a 2.46% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael Warren Vostrizansky bought 23,000 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The stock was purchased at an average price of $21.50 per share, for a total transaction of $494,500.00. Following the completion of the transaction, the director directly owned 23,000 shares of the company’s stock, valued at $494,500. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. 0.63% of the stock is currently owned by insiders.
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.