Neptune Insurance (NP)
Market Price (8/18/2026): $31.59 | Market Cap: $4.4 BilSector: Financials | Industry: Insurance Brokers
Neptune Insurance (NP)
Market Price (8/18/2026): $31.59Market Cap: $4.4 BilSector: FinancialsIndustry: Insurance Brokers
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 33% Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 44% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 40%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 37% Megatrend and thematic driversMegatrends include AI in Financial Services, and Fintech & Digital Payments. Themes include AI for Fraud Detection, and Digital Payments. | Weak multi-year price returns2Y Excs Rtn is -47%, 3Y Excs Rtn is -75% | Expensive valuation multiplesP/SPrice/Sales ratio is 24x, P/EBITPrice/EBIT or Price/(Operating Income) ratio is 58x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 60x, P/EPrice/Earnings or Price/(Net Income) is 111x Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 14% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.6% Key risksNP key risks include [1] significant geographic concentration of policies in catastrophe-prone states, Show more. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 33% |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 44% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 40%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 37% |
| Megatrend and thematic driversMegatrends include AI in Financial Services, and Fintech & Digital Payments. Themes include AI for Fraud Detection, and Digital Payments. |
| Weak multi-year price returns2Y Excs Rtn is -47%, 3Y Excs Rtn is -75% |
| Expensive valuation multiplesP/SPrice/Sales ratio is 24x, P/EBITPrice/EBIT or Price/(Operating Income) ratio is 58x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 60x, P/EPrice/Earnings or Price/(Net Income) is 111x |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 14% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.6% |
| Key risksNP key risks include [1] significant geographic concentration of policies in catastrophe-prone states, Show more. |
Qualitative Assessment
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Updated on 8/1/2026
Neptune Insurance (NP) stock has gained about 25% since 4/30/2026 because of the following key factors:
1. Exceptional Fiscal Q2 2026 Financial Performance: Neptune Insurance reported strong fiscal Q2 2026 results (ended June 30, 2026), significantly beating analyst expectations. Revenue reached a record $55.9 million, marking a 32.8% year-over-year (YoY) increase and surpassing estimates of $52.3 million. Adjusted EBITDA also saw substantial growth, rising 36.5% YoY to $34.5 million, with an Adjusted EBITDA margin of 61.7%. The company achieved a diluted earnings per share of $0.11, a notable improvement from $(0.49) in fiscal Q2 2025, and an adjusted EPS of $0.15, beating the consensus estimate of $0.14.
2. Upgraded Full-Year 2026 Guidance: Following the robust fiscal Q2 2026 results, Neptune Insurance raised its full-year 2026 GAAP revenue guidance to $199 million, representing a 25% YoY growth, an increase from earlier projections of $186 million to $189 million. The company also maintained its outlook for a strong Adjusted EBITDA margin between 60% and 61%, signaling confidence in sustained profitability and growth.
Show more
Neptune Insurance (NP) stock has gained about 25% since 4/30/2026 because of the following key factors:
1. Exceptional Fiscal Q2 2026 Financial Performance: Neptune Insurance reported strong fiscal Q2 2026 results (ended June 30, 2026), significantly beating analyst expectations. Revenue reached a record $55.9 million, marking a 32.8% year-over-year (YoY) increase and surpassing estimates of $52.3 million. Adjusted EBITDA also saw substantial growth, rising 36.5% YoY to $34.5 million, with an Adjusted EBITDA margin of 61.7%. The company achieved a diluted earnings per share of $0.11, a notable improvement from $(0.49) in fiscal Q2 2025, and an adjusted EPS of $0.15, beating the consensus estimate of $0.14.
2. Upgraded Full-Year 2026 Guidance: Following the robust fiscal Q2 2026 results, Neptune Insurance raised its full-year 2026 GAAP revenue guidance to $199 million, representing a 25% YoY growth, an increase from earlier projections of $186 million to $189 million. The company also maintained its outlook for a strong Adjusted EBITDA margin between 60% and 61%, signaling confidence in sustained profitability and growth.
Show more
Updated on 8/1/2026
Neptune Insurance (NP) stock has gained about 25% since 4/30/2026 because of the following key factors:
1. Exceptional Fiscal Q2 2026 Financial Performance: Neptune Insurance reported strong fiscal Q2 2026 results (ended June 30, 2026), significantly beating analyst expectations. Revenue reached a record $55.9 million, marking a 32.8% year-over-year (YoY) increase and surpassing estimates of $52.3 million. Adjusted EBITDA also saw substantial growth, rising 36.5% YoY to $34.5 million, with an Adjusted EBITDA margin of 61.7%. The company achieved a diluted earnings per share of $0.11, a notable improvement from $(0.49) in fiscal Q2 2025, and an adjusted EPS of $0.15, beating the consensus estimate of $0.14.
2. Upgraded Full-Year 2026 Guidance: Following the robust fiscal Q2 2026 results, Neptune Insurance raised its full-year 2026 GAAP revenue guidance to $199 million, representing a 25% YoY growth, an increase from earlier projections of $186 million to $189 million. The company also maintained its outlook for a strong Adjusted EBITDA margin between 60% and 61%, signaling confidence in sustained profitability and growth.
3. Robust Operational Growth and High Retention Rates: Neptune demonstrated strong operational growth during the period, surpassing 300,000 policies in force and $400 million in premium in force as of May 6, 2026. For fiscal Q2 2026, written premium grew 31.1% YoY to $126.9 million. Premium in force increased 31.8% and policies in force rose 29.0% YoY. The company also maintained strong retention rates, with policy retention at 86.0% and premium retention at 92.1%.
4. Strategic Product and Technology Enhancements: Neptune launched its AI-powered platform, Atlas+, in May 2026, aimed at enhancing the experience for insurance agents. Additionally, in June 2026, the company expanded its flood insurance offerings by raising building coverage limits to $15 million and introducing broader coverage options. These company-specific initiatives highlight ongoing innovation and market expansion efforts.
Show less
Neptune Insurance (NP) stock has gained about 25% since 4/30/2026 because of the following key factors:
1. Exceptional Fiscal Q2 2026 Financial Performance: Neptune Insurance reported strong fiscal Q2 2026 results (ended June 30, 2026), significantly beating analyst expectations. Revenue reached a record $55.9 million, marking a 32.8% year-over-year (YoY) increase and surpassing estimates of $52.3 million. Adjusted EBITDA also saw substantial growth, rising 36.5% YoY to $34.5 million, with an Adjusted EBITDA margin of 61.7%. The company achieved a diluted earnings per share of $0.11, a notable improvement from $(0.49) in fiscal Q2 2025, and an adjusted EPS of $0.15, beating the consensus estimate of $0.14.
2. Upgraded Full-Year 2026 Guidance: Following the robust fiscal Q2 2026 results, Neptune Insurance raised its full-year 2026 GAAP revenue guidance to $199 million, representing a 25% YoY growth, an increase from earlier projections of $186 million to $189 million. The company also maintained its outlook for a strong Adjusted EBITDA margin between 60% and 61%, signaling confidence in sustained profitability and growth.
3. Robust Operational Growth and High Retention Rates: Neptune demonstrated strong operational growth during the period, surpassing 300,000 policies in force and $400 million in premium in force as of May 6, 2026. For fiscal Q2 2026, written premium grew 31.1% YoY to $126.9 million. Premium in force increased 31.8% and policies in force rose 29.0% YoY. The company also maintained strong retention rates, with policy retention at 86.0% and premium retention at 92.1%.
4. Strategic Product and Technology Enhancements: Neptune launched its AI-powered platform, Atlas+, in May 2026, aimed at enhancing the experience for insurance agents. Additionally, in June 2026, the company expanded its flood insurance offerings by raising building coverage limits to $15 million and introducing broader coverage options. These company-specific initiatives highlight ongoing innovation and market expansion efforts.
Show less
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Stock Movement Drivers
Fundamental Drivers
The 25.3% change in NP stock from 4/30/2026 to 8/17/2026 was primarily driven by a 0.0% change in the company's P/E Multiple.| (LTM values as of) | 4302026 | 8172026 | Change |
|---|---|---|---|
| Stock Price ($) | 25.13 | 31.48 | 25.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | � | 182 | 0.0% |
| Net Income Margin (%) | � | 21.5% | 0.0% |
| P/E Multiple | � | 111.2 | 0.0% |
| Shares Outstanding (Mil) | 135 | 138 | -1.9% |
| Cumulative Contribution | 0.0% |
Market Drivers
4/30/2026 to 8/17/2026| Return | Correlation | |
|---|---|---|
| NP | 25.3% | |
| Market (SPY) | 7.5% | -27.0% |
| Sector (XLF) | 10.5% | 6.4% |
Fundamental Drivers
The 23.5% change in NP stock from 1/31/2026 to 8/17/2026 was primarily driven by a 0.0% change in the company's P/E Multiple.| (LTM values as of) | 1312026 | 8172026 | Change |
|---|---|---|---|
| Stock Price ($) | 25.50 | 31.48 | 23.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | � | 182 | 0.0% |
| Net Income Margin (%) | � | 21.5% | 0.0% |
| P/E Multiple | � | 111.2 | 0.0% |
| Shares Outstanding (Mil) | 138 | 138 | 0.2% |
| Cumulative Contribution | 0.0% |
Market Drivers
1/31/2026 to 8/17/2026| Return | Correlation | |
|---|---|---|
| NP | 23.5% | |
| Market (SPY) | 12.0% | 0.2% |
| Sector (XLF) | 8.3% | 26.4% |
Fundamental Drivers
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Market Drivers
7/31/2025 to 8/17/2026| Return | Correlation | |
|---|---|---|
| NP | -1.6% | |
| Market (SPY) | 23.3% | 3.9% |
| Sector (XLF) | 11.3% | 26.6% |
Fundamental Drivers
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Market Drivers
7/31/2023 to 8/17/2026| Return | Correlation | |
|---|---|---|
| NP | -1.6% | |
| Market (SPY) | 74.7% | 3.9% |
| Sector (XLF) | 70.3% | 26.6% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| NP Return | -13% | -29% | 0% | 0% | -9% | 9% | -39% |
| Peers Return | 25% | 9% | 14% | 24% | -9% | -1% | 76% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 14% | 107% |
Monthly Win Rates [3] | |||||||
| NP Win Rate | 50% | 17% | 0% | 0% | 8% | 62% | |
| Peers Win Rate | 60% | 48% | 52% | 67% | 50% | 35% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| NP Max Drawdown | -25% | -34% | 0% | 0% | -28% | -41% | |
| Peers Max Drawdown | -18% | -20% | -17% | -15% | -26% | -22% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: WTW, ERIE, MRSH, AON, AJG.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/17/2026 (YTD)
How Low Can It Go
| Event | NP | S&P 500 |
|---|---|---|
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -10.1% | -12.2% |
| % Gain to Breakeven | 11.2% | 13.9% |
| Time to Breakeven | 41 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -37.0% | -17.9% |
| % Gain to Breakeven | 58.8% | 21.8% |
| Time to Breakeven | 73 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -19.2% | -15.4% |
| % Gain to Breakeven | 23.8% | 18.2% |
| Time to Breakeven | 10 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -88.5% | -53.4% |
| % Gain to Breakeven | 773.2% | 114.4% |
| Time to Breakeven | 1072 days | 1085 days |
| Summer 2007 Credit Crunch | ||
| % Loss | -24.0% | -8.6% |
| % Gain to Breakeven | 31.6% | 9.5% |
| Time to Breakeven | 2134 days | 47 days |
In The Past
Neptune Insurance's stock fell -7.0% during the 2016-2017 Trump Reflation Bond Selloff. Such a loss loss requires a 7.6% gain to breakeven.
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| Event | NP | S&P 500 |
|---|---|---|
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -37.0% | -17.9% |
| % Gain to Breakeven | 58.8% | 21.8% |
| Time to Breakeven | 73 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -88.5% | -53.4% |
| % Gain to Breakeven | 773.2% | 114.4% |
| Time to Breakeven | 1072 days | 1085 days |
| Summer 2007 Credit Crunch | ||
| % Loss | -24.0% | -8.6% |
| % Gain to Breakeven | 31.6% | 9.5% |
| Time to Breakeven | 2134 days | 47 days |
In The Past
Neptune Insurance's stock fell -7.0% during the 2016-2017 Trump Reflation Bond Selloff. Such a loss loss requires a 7.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Neptune Insurance (NP)
Neptune Insurance (NP) operates as a specialty materials company, primarily engaged in two distinct business segments: Technical Products and Fine Paper & Packaging. The company develops and manufactures a wide array of specialized materials, catering to diverse industrial and consumer markets across North America and Europe.
The Technical Products segment focuses on performance-based materials for critical applications. Its offerings include advanced filtration media for transportation and water purification, various industrial tapes, and coated lightweight abrasive papers for automotive, construction, and woodworking industries. This segment also produces specialized papers for digital transfer, labels, tags, medical packaging, security, and release liners, serving customers that require high-performance, engineered solutions.
Conversely, the Fine Paper & Packaging segment provides aesthetically rich and functional paper products. This includes premium writing, text, and cover papers for commercial printing, corporate identity, and advertising. The company also offers a comprehensive range of packaging products for retail, cosmetics, spirits, and electronics markets, alongside bright papers for direct mail, advertising, and scrapbooking. Additionally, it supplies cardstock, stationery, art papers, and specialized optical scanning papers, reaching customers in commercial printing, luxury branding, and consumer stationery sectors.
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The key risks to Neptune Insurance Holdings Inc. (symbol: NP) are as follows:
- Reliance on Capacity Providers: Neptune Insurance Holdings Inc. operates as a managing general agent (MGA), underwriting and administering insurance policies on behalf of a diverse panel of insurance and reinsurance companies, referred to as capacity providers. The company does not take any balance sheet insurance risk or have claims handling responsibility related to the policies it sells. Therefore, Neptune's business is highly dependent on its relationships with these capacity providers and their willingness to continue taking on flood policies.
- Regulatory Scrutiny and Changes in Flood Insurance Programs: Neptune operates in the specialized flood insurance market, which is significantly influenced by government programs like the National Flood Insurance Program (NFIP) run by the U.S. Federal Emergency Management Agency (FEMA). The company faces scrutiny regarding its business model and the impact of its artificial intelligence-driven underwriting on insurance costs. Potential changes in FEMA's Risk 2.0 initiative or the role of the NFIP could impact Neptune's growth opportunities and market penetration.
- Accuracy and Transparency of AI Underwriting and Pricing: There are concerns regarding Neptune's reliance on its in-house AI underwriting platform, "Triton," particularly whether the company can adequately explain its inputs, how premiums are calculated, and if customers can challenge or understand the premiums they are paying. Lack of transparency or perceived unfairness in AI-driven pricing could lead to regulatory challenges, reputational damage, or customer distrust.
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Neptune Insurance Holdings Inc. (symbol: NP) is expected to drive future revenue growth over the next 2-3 years through several key strategies:
- Expansion into adjacent insurance markets: Neptune Insurance is diversifying its product offerings beyond flood insurance. The company has launched a beta indemnity earthquake product and provides parametric earthquake insurance, indicating a strategic move to tap into new market segments and offer more comprehensive coverage options.
- Continued growth in the specialized U.S. flood insurance market: As a prominent player in the U.S. flood insurance market, Neptune Insurance is well-positioned to capitalize on the increasing demand for specialized flood and catastrophe coverage, driven by climate-related risks. The company has consistently achieved record new business sales and maintains strong policy retention rates, which are crucial for sustained revenue expansion.
- Leveraging proprietary AI platforms and data science for enhanced underwriting and operational efficiency: Neptune Insurance utilizes its proprietary AI platforms, Triton for underwriting and Poseidon for policy management, along with advanced data science. This technological advantage supports its asset-light business model, enabling efficient and accurate underwriting and policy administration. This operational efficiency is a significant factor in driving scalable and profitable growth.
- Broadening distribution networks and strengthening capacity provider relationships: The company's strategy includes actively onboarding new agents and expanding its diversified panel of capacity providers. As of October 2025, Neptune had grown its panel to 39 capacity providers across seven programs. This expansion of distribution channels and partnerships directly contributes to an increase in written premiums, which is a primary driver of Neptune's commission revenue.
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Peer Outperformance in Insurance Brokers
NP has trailed 79% of its 14 Insurance Brokers peers over 5Y. Insurance Brokers ranks 10th of 18 industries in Financials by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Insurance Brokers constituents that NP has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
80%
of 15 industry peers · -1.6% return
3Y
29%
of 14 industry peers · -1.6% return
5Y
21%
of 14 industry peers · -33.0% return
No Insurance Brokers peer with a comparable growth profile has beaten NP by more than 20pp over 5Y.
Median price return by industry across the Financials sector, ranked by 5Y. Insurance Brokers is NP's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Investment Banking & Brokerage | 13 | 10.5% | 132.2% | 134.3% | IBKR 529% · SNEX 254% · GS 198% |
| Reinsurance | 6 | 22.0% | 85.3% | 117.8% | SPNT 143% · MTG 134% · RGA 133% |
| Diversified Banks | 12 | 48.9% | 135.6% | 116.1% | CM 167% · JPM 163% · RY 150% |
| Life & Health Insurance | 19 | 21.2% | 61.7% | 95.7% | UNM 308% · FG 248% · MFC 181% |
| Regional Banks | 264 | 35.7% | 85.5% | 69.1% | ESQ 398% · GCBC 388% · NBN 291% |
| Property & Casualty Insurance | 42 | 14.8% | 69.5% | 68.8% | ASIC 2408900% · HRTG 431% · UVE 274% |
| Multi-line Insurance | 9 | 18.6% | 83.9% | 62.4% | GNW 190% · L 109% · SLF 91% |
| Multi-Sector Holdings | 6 | 3.8% | -4.9% | 35.1% | JEF 90% · BRK-B 74% · VOYA 68% |
| Consumer Finance | 30 | 15.2% | 89.4% | 35.0% | ENVA 743% · EZPW 372% · AGM 178% |
| Insurance Brokers ← | 15 | -11.8% | 9.9% | 30.7% | LIFE 653% · ARX 86% · AJG 85% |
| Financial Exchanges & Data | 15 | -6.8% | 10.1% | 27.8% | VIRT 182% · CBOE 157% · CME 67% |
| Asset Management & Custody Banks | 83 | -7.5% | 20.5% | 22.4% | WT 313% · SII 303% · VCTR 299% |
| Commercial & Residential Mortgage Finance | 13 | -24.8% | 33.9% | 21.0% | FNMA 513% · FMCC 481% · IOR 67% |
| Specialized Finance | 3 | 20.7% | 54.4% | 0.0% | EFC 39% · CACC 0% · HASI -6% |
| Mortgage REITs | 34 | -5.5% | 15.1% | -9.2% | RITM 74% · NREF 56% · DX 42% |
| Diversified Capital Markets | 21 | -30.4% | -4.0% | -37.2% | BTCS 467% · OPY 196% · LPLA 166% |
| Transaction & Payment Processing Services | 15 | -2.7% | 2.8% | -43.0% | V 61% · MA 60% · CPAY 58% |
| Diversified Financial Services | 5 | -12.5% | 62.2% | -48.9% | FRHC 147% · EQH 88% · TMS -49% |
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 247.86 |
| Mkt Cap | 47.2 |
| Rev LTM | 12,928 |
| Op Inc LTM | 2,691 |
| FCF LTM | 2,285 |
| FCF 3Y Avg | 2,612 |
| CFO LTM | 2,449 |
| CFO 3Y Avg | 2,813 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 6.6% |
| Rev Chg 3Y Avg | 9.0% |
| Rev Chg Q | 7.6% |
| QoQ Delta Rev Chg LTM | 1.8% |
| Op Inc Chg LTM | 5.8% |
| Op Inc Chg 3Y Avg | 10.7% |
| Op Mgn LTM | 23.5% |
| Op Mgn 3Y Avg | 22.6% |
| QoQ Delta Op Mgn LTM | -0.1% |
| CFO/Rev LTM | 19.0% |
| CFO/Rev 3Y Avg | 18.3% |
| FCF/Rev LTM | 17.1% |
| FCF/Rev 3Y Avg | 17.0% |
Price Behavior
Price Behavior
| Market Price | $31.48 | |
| Market Cap ($ Bil) | 4.3 | |
| First Trading Date | 11/17/2004 | |
| Distance from 52W High | -10.3% | |
| 50 Days | 200 Days | |
| DMA Price | $28.14 | $28.14 |
| DMA Trend | up | up |
| Distance from DMA | 11.9% | 11.9% |
| 3M | 1YR | |
| Volatility | 57.7% | 68.4% |
| Downside Capture | -165.49 | 7.92 |
| Upside Capture | -66.74 | 36.97 |
| Correlation (SPY) | -31.4% | 2.9% |
NP Betas & Captures as of 7/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -2.76 | -1.86 | -1.60 | 0.00 | 0.14 | 0.03 |
| Up Beta | -5.71 | 0.16 | 0.23 | 0.45 | 0.64 | 0.10 |
| Down Beta | -3.40 | -3.29 | -3.08 | -0.86 | 0.01 | 0.01 |
| Up Capture | -148% | -129% | -65% | 35% | 2% | 0% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 12 | 25 | 34 | 66 | 103 | 103 |
| Down Capture | -188% | -284% | -299% | -1% | 7% | 4% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 10 | 18 | 29 | 60 | 106 | 106 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NP | |
|---|---|---|---|---|
| NP | 27.1% | 68.4% | 0.67 | - |
| Sector ETF (XLF) | 10.0% | 14.5% | 0.43 | 26.6% |
| Equity (SPY) | 20.9% | 12.8% | 1.21 | 3.9% |
| Gold (GLD) | 32.1% | 28.5% | 0.97 | 0.4% |
| Commodities (DBC) | 40.1% | 20.2% | 1.55 | -12.3% |
| Real Estate (VNQ) | 14.2% | 13.9% | 0.72 | 19.3% |
| Bitcoin (BTCUSD) | -46.9% | 42.7% | -1.37 | 19.6% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NP | |
|---|---|---|---|---|
| NP | -2.8% | 54.8% | 0.07 | - |
| Sector ETF (XLF) | 10.5% | 18.4% | 0.43 | 31.9% |
| Equity (SPY) | 13.3% | 17.2% | 0.60 | 18.8% |
| Gold (GLD) | 20.2% | 18.5% | 0.89 | -0.3% |
| Commodities (DBC) | 10.3% | 19.6% | 0.41 | -5.5% |
| Real Estate (VNQ) | 2.2% | 18.9% | 0.01 | 22.5% |
| Bitcoin (BTCUSD) | 6.3% | 52.7% | 0.31 | 19.4% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NP | |
|---|---|---|---|---|
| NP | -4.4% | 39.5% | -0.03 | - |
| Sector ETF (XLF) | 13.5% | 22.0% | 0.56 | 50.2% |
| Equity (SPY) | 15.3% | 17.9% | 0.73 | 40.9% |
| Gold (GLD) | 12.3% | 16.2% | 0.62 | -0.5% |
| Commodities (DBC) | 7.8% | 18.1% | 0.35 | 12.4% |
| Real Estate (VNQ) | 4.9% | 20.7% | 0.20 | 40.0% |
| Bitcoin (BTCUSD) | 60.0% | 66.1% | 1.00 | 13.7% |
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Earnings Returns History
Updated 7/21/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/22/2026 | -3.2% | -7.7% | -2.9% |
| 2/18/2026 | 12.7% | 17.4% | 22.3% |
| 11/12/2025 | -1.2% | -7.8% | 9.3% |
| SUMMARY STATS | |||
| # Positive | 1 | 1 | 2 |
| # Negative | 2 | 2 | 1 |
| Median Positive | 12.7% | 17.4% | 15.8% |
| Median Negative | -2.2% | -7.7% | -2.9% |
| Max Positive | 12.7% | 17.4% | 22.3% |
| Max Negative | -3.2% | -7.8% | -2.9% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/22/2026 | -3.2% | -7.7% | -2.9% |
| 2/18/2026 | 12.7% | 17.4% | 22.3% |
| 11/12/2025 | -1.2% | -7.8% | 9.3% |
| SUMMARY STATS | |||
| # Positive | 1 | 1 | 2 |
| # Negative | 2 | 2 | 1 |
| Median Positive | 12.7% | 17.4% | 15.8% |
| Median Negative | -2.2% | -7.7% | -2.9% |
| Max Positive | 12.7% | 17.4% | 22.3% |
| Max Negative | -3.2% | -7.8% | -2.9% |
Insider Activity
Updated 8/14/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Steiner, James | Chief Financial Officer | Direct | Sell | 8142026 | 31.71 | 57,012 | 1,807,970 | 118,890,249 | Form |
| 2 | Steiner, James | Chief Financial Officer | Direct | Sell | 8142026 | 31.08 | 42,988 | 1,335,874 | 118,275,280 | Form |
| 3 | Bsiv, Hold 101, LP | Direct | Sell | 7302026 | 33.22 | 1,632,160 | 54,220,355 | 419,254,937 | Form | |
| 4 | Ftv, Vii, LP | See footnotes | Sell | 7302026 | 33.22 | 1,867,840 | 62,049,645 | 479,794,500 | Form | |
| 5 | Bsiv, Hold 101, LP | Direct | Sell | 5192026 | 26.40 | 688,403 | 18,173,839 | 376,271,755 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Steiner, James | Chief Financial Officer | Direct | Sell | 8142026 | 31.71 | 57,012 | 1,807,970 | 118,890,249 | Form |
| 2 | Steiner, James | Chief Financial Officer | Direct | Sell | 8142026 | 31.08 | 42,988 | 1,335,874 | 118,275,280 | Form |
| 3 | Bsiv, Hold 101, LP | Direct | Sell | 7302026 | 33.22 | 1,632,160 | 54,220,355 | 419,254,937 | Form | |
| 4 | Ftv, Vii, LP | See footnotes | Sell | 7302026 | 33.22 | 1,867,840 | 62,049,645 | 479,794,500 | Form | |
| 5 | Bsiv, Hold 101, LP | Direct | Sell | 5192026 | 26.40 | 688,403 | 18,173,839 | 376,271,755 | Form | |
| 6 | Ftv, Vii, LP | See footnotes | Sell | 5192026 | 26.40 | 787,806 | 20,798,078 | 430,604,618 | Form | |
| 7 | Bsiv, Hold 101, LP | Direct | Sell | 5192026 | 26.40 | 4,589,351 | 121,158,866 | 394,445,594 | Form | |
| 8 | Ftv, Vii, LP | See footnotes | Sell | 5192026 | 26.40 | 5,252,044 | 138,653,962 | 451,402,697 | Form | |
| 9 | Burgess, Trevor R | CEO & Chairman of the Board | Direct | Buy | 3132026 | 18.71 | 50,000 | 935,345 | 38,965,799 | Form |
| 10 | Vostrizansky, Michael Warren | Direct | Buy | 2242026 | 21.50 | 23,000 | 494,415 | 494,415 | Form | |
| 11 | Steiner, James | CFO and Secretary | Direct | Buy | 11142025 | 20.00 | 119,050 | 2,381,000 | 87,694,300 | Form |
| 12 | Carlon, Jonathan Winant | Direct | Buy | 11142025 | 20.00 | 5,000 | 100,000 | 13,070,000 | Form | |
| 13 | Burgess, Trevor R | CEO & Chairman of the Board | Direct | Buy | 11142025 | 20.00 | 50,000 | 1,000,000 | 40,659,280 | Form |
| 14 | Ftv, Vii, LP | See footnotes | Sell | 10032025 | 18.75 | 678,019 | 12,712,856 | 419,074,331 | Form | |
| 15 | Bsiv, Hold 101, LP | Direct | Sell | 10032025 | 18.75 | 820,123 | 15,377,306 | 366,196,350 | Form |
Investor Activity (13F)
Updated Aug 18, 202613F holdings as of Mar 31, 2026 (Q1 2026)
Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager |
|---|
Industry Resources
| Financials Resources |
| Federal Reserve Economic Data |
| Federal Reserve |
| FDIC Data |
| American Banker |
| The Banker |
| Banking Technology |
| Insurance Brokers Resources |
| Insurance Business America |
| A.M. Best |
| National Underwriter |
| Insurance News |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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Core Cache Last Updated: 8/17/2026