Neptune Insurance Holdings Inc. (NYSE:NP – Get Free Report) shares fell 7.1% on Wednesday . The stock traded as low as $31.40 and last traded at $31.40. Approximately 199,941 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 605,971 shares. The stock had previously closed at $33.79.
Analyst Ratings Changes
NP has been the topic of several research analyst reports. Morgan Stanley increased their price target on shares of Neptune Insurance from $26.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, May 21st. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $34.00 price objective (up from $32.00) on shares of Neptune Insurance in a research report on Wednesday. Evercore reissued an “outperform” rating on shares of Neptune Insurance in a research note on Friday, May 8th. Raymond James Financial reaffirmed an “outperform” rating on shares of Neptune Insurance in a research note on Monday, April 27th. Finally, Bank of America raised their price target on Neptune Insurance from $23.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, April 14th. Eight investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $28.39.
Neptune Insurance Stock Performance
Neptune Insurance (NYSE:NP – Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. The company had revenue of $37.80 million for the quarter, compared to analyst estimates of $36.96 million. The firm’s revenue was up 28.8% compared to the same quarter last year. As a group, research analysts forecast that Neptune Insurance Holdings Inc. will post 0.4 earnings per share for the current year.
Insider Buying and Selling
In related news, major shareholder Vii L.P. Ftv sold 787,806 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 transaction of $20,798,078.40. Following the transaction, the insider owned 16,310,781 shares of the company’s stock, valued at $430,604,618.40. This trade represents a 4.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Hold 101 Lp Bsiv sold 688,403 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $26.40, for a total transaction of $18,173,839.20. Following the transaction, the insider owned 14,252,718 shares of the company’s stock, valued at approximately $376,271,755.20. This represents a 4.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 11,317,604 shares of company stock worth $298,784,746 over the last quarter. 74.26% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN bought a new stake in shares of Neptune Insurance in the fourth quarter worth about $28,000. PNC Financial Services Group Inc. acquired a new position in shares of Neptune Insurance in the 4th quarter valued at approximately $125,000. FNY Investment Advisers LLC bought a new stake in Neptune Insurance during the 3rd quarter worth approximately $171,000. Symmetry Investments LP acquired a new stake in Neptune Insurance during the 4th quarter worth approximately $204,000. Finally, FJ Capital Management LLC acquired a new stake in Neptune Insurance during the 4th quarter worth approximately $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.
Featured Articles
- Five stocks we like better than Neptune Insurance
- A Market Panic Just Discounted the AI Highway’s Tollbooth
- Why Exxon Could Be the Market’s Next Big Comeback Stock
- The Market Just Got Shaken—These 3 ETFs May Come Out Stronger
- Meta Platforms’ Cloud Push: Growth Opportunity Versus AI Concerns
Receive News & Ratings for Neptune Insurance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Neptune Insurance and related companies with MarketBeat.com's FREE daily email newsletter.
