Neptune Insurance Holdings Inc. (NYSE:NP – Get Free Report)’s stock price shot up 8.6% on Wednesday . The stock traded as high as $34.58 and last traded at $34.6250. 906,003 shares were traded during trading, an increase of 48% from the average daily volume of 610,769 shares. The stock had previously closed at $31.88.
Analysts Set New Price Targets
Several analysts have issued reports on the stock. Wells Fargo & Company upped their price target on shares of Neptune Insurance from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Weiss Ratings reissued a “sell (d)” rating on shares of Neptune Insurance in a research note on Friday, July 17th. Piper Sandler upped their target price on Neptune Insurance from $30.00 to $39.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. JPMorgan Chase & Co. increased their target price on Neptune Insurance from $26.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Finally, BMO Capital Markets downgraded Neptune Insurance from an “outperform” rating to a “market perform” rating and set a $32.00 price target for the company. in a research report on Thursday. Seven investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Neptune Insurance has an average rating of “Hold” and an average target price of $31.46.
Get Our Latest Report on Neptune Insurance
Neptune Insurance Stock Performance
Neptune Insurance (NYSE:NP – Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The business had revenue of $55.87 million during the quarter, compared to the consensus estimate of $52.38 million. Neptune Insurance had a net margin of 21.45% and a negative return on equity of 18.77%. On average, equities analysts anticipate that Neptune Insurance Holdings Inc. will post 0.4 EPS for the current year.
Insider Activity at Neptune Insurance
In other Neptune Insurance news, 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 value of $20,798,078.40. Following the completion of the transaction, the insider directly owned 16,310,781 shares in the company, valued at approximately $430,604,618.40. The trade was a 4.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Hold 101 Lp Bsiv sold 688,403 shares of Neptune Insurance stock in a transaction 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 completion of the sale, the insider directly 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 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 over the last ninety days. 74.26% of the stock is owned by corporate insiders.
Institutional Trading of Neptune Insurance
Institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN purchased a new stake in Neptune Insurance during the fourth quarter valued at about $28,000. PNC Financial Services Group Inc. purchased a new position in shares of Neptune Insurance in the 4th quarter valued at $125,000. Symmetry Investments LP acquired a new stake in Neptune Insurance in the 4th quarter valued at $204,000. FJ Capital Management LLC acquired a new position in shares of Neptune Insurance during the fourth quarter worth about $289,000. Finally, BIT Capital GmbH purchased a new stake in shares of Neptune Insurance during the 4th quarter valued at about $292,000.
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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