Manchester Global Management UK Ltd Invests $1.90 Million in Neptune Insurance Holdings Inc. $NP

Manchester Global Management UK Ltd purchased a new stake in Neptune Insurance Holdings Inc. (NYSE:NP) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 65,180 shares of the company’s stock, valued at approximately $1,901,000. Neptune Insurance comprises 0.3% of Manchester Global Management UK Ltd’s portfolio, making the stock its 21st biggest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bregal Sagemount IV General Partner Jersey Ltd acquired a new position in Neptune Insurance during the fourth quarter valued at approximately $569,509,000. Vanguard Group Inc. acquired a new stake in Neptune Insurance in the fourth quarter worth $47,063,000. Capital World Investors bought a new position in shares of Neptune Insurance during the fourth quarter worth $32,091,000. JPMorgan Chase & Co. acquired a new position in shares of Neptune Insurance in the 4th quarter valued at $27,695,000. Finally, Capital International Investors acquired a new position in shares of Neptune Insurance in the 4th quarter valued at $20,412,000.

Neptune Insurance Trading Up 1.5%

Shares of NYSE NP opened at $27.97 on Wednesday. The company has a fifty day moving average price of $26.89 and a 200 day moving average price of $25.29. The firm has a market cap of $3.87 billion and a PE ratio of 103.59. Neptune Insurance Holdings Inc. has a 1-year low of $14.78 and a 1-year high of $33.23.

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

Insider Activity at Neptune Insurance

In other news, major shareholder Hold 101 Lp Bsiv sold 688,403 shares of Neptune Insurance stock in a transaction that occurred 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 sale, the insider directly owned 14,252,718 shares in the company, valued at $376,271,755.20. This trade represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Vii L.P. Ftv sold 787,806 shares of the business’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 represents a 4.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 11,317,604 shares of company stock worth $298,784,746 in the last 90 days. Company insiders own 74.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods lifted their target price on Neptune Insurance from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Bank of America increased their price target on Neptune Insurance from $23.00 to $26.00 and gave the stock a “neutral” rating in a report on Tuesday, April 14th. Mizuho raised their price target on Neptune Insurance from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Monday, April 13th. Morgan Stanley boosted their price objective on Neptune Insurance from $26.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. Finally, Raymond James Financial reissued an “outperform” rating on shares of Neptune Insurance in a research note on Monday, April 27th. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Neptune Insurance presently has a consensus rating of “Moderate Buy” and an average target price of $27.73.

Neptune Insurance 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.