Shares of Neptune Insurance Holdings Inc. (NYSE:NP – Get Free Report) have received a consensus recommendation of “Hold” from the fifteen brokerages that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $28.3929.
Several research firms recently weighed in on NP. Wells Fargo & Company assumed coverage on shares of Neptune Insurance in a report on Tuesday, June 30th. They issued an “overweight” rating and a $35.00 price target on the stock. Mizuho lifted their target price on shares of Neptune Insurance from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, April 13th. Evercore reiterated an “outperform” rating on shares of Neptune Insurance in a research report on Friday, May 8th. Weiss Ratings reissued a “sell (d)” rating on shares of Neptune Insurance in a research note on Monday, April 20th. Finally, Morgan Stanley raised their price objective on shares of Neptune Insurance from $26.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, May 21st.
Get Our Latest Research Report on NP
Neptune Insurance Stock Down 6.9%
Neptune Insurance (NYSE:NP – Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $0.09 EPS for the quarter, meeting the consensus estimate of $0.09. The firm had revenue of $37.80 million for the quarter, compared to the consensus estimate of $36.96 million. The firm’s revenue for the quarter was up 28.8% compared to the same quarter last year. Sell-side analysts expect that Neptune Insurance will post 0.4 EPS for the current fiscal year.
Insider Activity at Neptune Insurance
In other news, major shareholder Vii L.P. Ftv sold 5,252,044 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $26.40, for a total value of $138,653,961.60. Following the completion of the transaction, the insider owned 17,098,587 shares in the company, valued at $451,402,696.80. This trade represents a 23.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Hold 101 Lp Bsiv sold 4,589,351 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $26.40, for a total value of $121,158,866.40. Following the completion of the sale, the insider directly owned 14,941,121 shares in the company, valued at approximately $394,445,594.40. The trade was a 23.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 11,317,604 shares of company stock valued at $298,784,746 in the last three months. Corporate insiders own 74.26% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the business. Wells Fargo & Company MN purchased a new position in Neptune Insurance during the 4th quarter valued at about $28,000. PNC Financial Services Group Inc. bought a new position in shares of Neptune Insurance during the fourth quarter valued at approximately $125,000. FNY Investment Advisers LLC purchased a new position in shares of Neptune Insurance during the third quarter valued at approximately $171,000. Symmetry Investments LP purchased a new position in shares of Neptune Insurance during the fourth quarter valued at approximately $204,000. Finally, FJ Capital Management LLC bought a new stake in shares of Neptune Insurance in 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.
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