TimesSquare Capital Management LLC Buys New Holdings in Neptune Insurance Holdings Inc. $NP

TimesSquare Capital Management LLC bought a new stake in Neptune Insurance Holdings Inc. (NYSE:NP) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 420,434 shares of the company’s stock, valued at approximately $12,260,000. TimesSquare Capital Management LLC owned about 0.30% of Neptune Insurance at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC acquired a new position in Neptune Insurance in the third quarter valued at $171,000. Emerald Mutual Fund Advisers Trust acquired a new position in Neptune Insurance in the third quarter valued at $792,000. Massachusetts Financial Services Co. MA acquired a new position in Neptune Insurance in the fourth quarter valued at $759,000. Comerica Bank acquired a new position in Neptune Insurance in the fourth quarter valued at $1,507,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Neptune Insurance in the fourth quarter valued at $2,068,000.

Insiders Place Their Bets

In other news, major shareholder Hold 101 Lp Bsiv sold 688,403 shares of Neptune Insurance stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $26.40, for a total transaction of $18,173,839.20. Following the sale, the insider directly owned 14,252,718 shares of the company’s stock, valued at approximately $376,271,755.20. The trade was a 4.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Vii L.P. Ftv sold 787,806 shares of Neptune Insurance stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $26.40, for a total value of $20,798,078.40. Following the sale, the insider directly owned 16,310,781 shares in the company, valued at approximately $430,604,618.40. The trade was a 4.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 11,317,604 shares of company stock valued at $298,784,746 in the last three months. 74.26% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on NP shares. Raymond James Financial restated an “outperform” rating on shares of Neptune Insurance in a research note on Monday, April 27th. Mizuho boosted their price objective on Neptune Insurance from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Monday, April 13th. Bank of America boosted their price objective on Neptune Insurance from $23.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 14th. Morgan Stanley reduced their price objective on Neptune Insurance from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 4th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Neptune Insurance in a research note on Monday, April 20th. Eight analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.42.

Neptune Insurance Price Performance

Shares of NP opened at $26.70 on Wednesday. The stock’s 50-day moving average is $25.13 and its two-hundred day moving average is $25.00. The stock has a market cap of $3.69 billion and a PE ratio of 98.90. 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 announced its earnings results on Wednesday, April 22nd. The company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09. The business had revenue of $37.80 million for the quarter, compared to analysts’ expectations of $36.96 million. The firm’s revenue for the quarter was up 28.8% compared to the same quarter last year. On average, research analysts anticipate that Neptune Insurance Holdings Inc. will post 0.39 earnings per share for the current year.

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.