Shares of Neptune Insurance Holdings Inc. (NYSE:NP – Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $30.68, but opened at $28.59. Neptune Insurance shares last traded at $27.2110, with a volume of 45,274 shares changing hands.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on NP. Piper Sandler reduced 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 note on Thursday, February 19th. Evercore restated an “outperform” rating on shares of Neptune Insurance in a research report on Friday. BMO Capital Markets upgraded Neptune Insurance from a “market perform” rating to an “outperform” rating and lowered their price objective for the stock from $25.00 to $20.00 in a research report on Friday, February 13th. Bank of America lifted their price objective on Neptune Insurance from $23.00 to $26.00 and gave the company a “neutral” rating in a research note on Tuesday, April 14th. Finally, Mizuho upped their target price on Neptune Insurance from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Monday, April 13th. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.42.
View Our Latest Stock Report on NP
Neptune Insurance Stock Performance
Neptune Insurance (NYSE:NP – Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. The business had revenue of $37.80 million for the quarter, compared to analysts’ expectations of $36.96 million. The business’s revenue for the quarter was up 28.8% compared to the same quarter last year. On average, analysts anticipate that Neptune Insurance Holdings Inc. will post 0.39 EPS for the current year.
Insider Transactions at Neptune Insurance
In other Neptune Insurance news, CEO Trevor R. Burgess purchased 50,000 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was bought at an average cost of $18.71 per share, with a total value of $935,500.00. Following the transaction, the chief executive officer directly owned 2,082,964 shares in the company, valued at approximately $38,972,256.44. The trade was a 2.46% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michael Warren Vostrizansky bought 23,000 shares of the company’s stock in a transaction on Friday, February 20th. The stock was bought at an average cost of $21.50 per share, for a total transaction of $494,500.00. Following the completion of the acquisition, the director directly owned 23,000 shares of the company’s stock, valued at approximately $494,500. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 74.26% of the company’s stock.
Institutional Investors Weigh In On Neptune Insurance
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN bought a new stake in Neptune Insurance during the fourth quarter valued at approximately $28,000. PNC Financial Services Group Inc. purchased a new position in shares of Neptune Insurance during the 4th quarter worth $125,000. FNY Investment Advisers LLC purchased a new stake in shares of Neptune Insurance in the 3rd quarter worth $171,000. Symmetry Investments LP bought a new position in Neptune Insurance in the 4th quarter worth $204,000. Finally, FJ Capital Management LLC bought a new stake in Neptune Insurance during the fourth quarter valued at about $289,000.
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.
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