Maltese Capital Management LLC Takes $3.20 Million Position in Neptune Insurance Holdings Inc. $NP

Maltese Capital Management LLC bought a new position in Neptune Insurance Holdings Inc. (NYSE:NP) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 100,000 shares of the company’s stock, valued at approximately $3,200,000. Maltese Capital Management LLC owned about 0.07% of Neptune Insurance as of its most recent SEC filing.

Separately, Emerald Mutual Fund Advisers Trust purchased a new position in Neptune Insurance during the third quarter valued at approximately $792,000.

Insider Activity at Neptune Insurance

In other news, Director Michael Warren Vostrizansky purchased 23,000 shares of the stock in a transaction dated Friday, February 20th. The shares were purchased at an average cost of $21.50 per share, with a total value of $494,500.00. Following the completion of the purchase, the director directly owned 23,000 shares of the company’s stock, valued at approximately $494,500. The trade was a ? increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Trevor R. Burgess purchased 50,000 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were purchased at an average price of $18.71 per share, with a total value of $935,500.00. Following the completion of the transaction, the chief executive officer directly owned 2,082,964 shares of the company’s stock, valued at $38,972,256.44. This represents a 2.46% increase in their position. The disclosure for this purchase is available in the SEC filing.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Piper Sandler decreased their price objective on shares of Neptune Insurance from $33.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. BMO Capital Markets upgraded Neptune Insurance from a “market perform” rating to an “outperform” rating and dropped their target price for the company from $25.00 to $20.00 in a research report on Friday, February 13th. The Goldman Sachs Group restated a “buy” rating and issued a $32.50 price target on shares of Neptune Insurance in a research note on Wednesday, January 7th. Bank of America upgraded Neptune Insurance from an “underperform” rating to a “neutral” rating and set a $23.00 price target on the stock in a research report on Friday, February 20th. Finally, Morgan Stanley cut their price objective on Neptune Insurance from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 4th. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $26.50.

Neptune Insurance Stock Up 0.1%

Shares of NYSE NP opened at $21.89 on Tuesday. The company’s 50-day simple moving average is $22.97 and its 200-day simple moving average is $26.18. Neptune Insurance Holdings Inc. has a 52-week low of $14.78 and a 52-week high of $33.23. The firm has a market cap of $3.02 billion and a price-to-earnings ratio of 99.49.

Neptune Insurance (NYSE:NP) last released its quarterly earnings results on Wednesday, February 18th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. The company had revenue of $43.77 million for the quarter, compared to analyst estimates of $39.42 million.

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.