Neptune Insurance Holdings Inc. (NYSE:NP – Get Free Report) has received an average recommendation of “Moderate Buy” from the fifteen ratings firms that are covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $31.54.
NP has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Neptune Insurance in a research report on Wednesday, September 23rd. Mizuho decreased their price objective on shares of Neptune Insurance from $32.00 to $31.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 7th. Evercore reissued an “outperform” rating and issued a $36.00 price objective on shares of Neptune Insurance in a research note on Wednesday, July 22nd. Keefe, Bruyette & Woods lowered their price objective on shares of Neptune Insurance from $34.00 to $33.00 and set a “market perform” rating on the stock in a research note on Friday, July 24th. Finally, Morgan Stanley upgraded shares of Neptune Insurance from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $31.00 to $36.00 in a report on Wednesday, August 19th.
Check Out Our Latest Research Report on Neptune Insurance
Neptune Insurance Price Performance
Neptune Insurance (NYSE:NP – Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.01. The firm had revenue of $55.87 million during the quarter, compared to analysts’ expectations of $52.38 million. Neptune Insurance had a negative return on equity of 18.77% and a net margin of 21.45%. On average, research analysts expect that Neptune Insurance will post 0.40 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Neptune Insurance news, insider Matthew Duffy sold 84,441 shares of the company’s stock in a transaction dated Thursday, October 8th. The shares were sold at an average price of $28.10, for a total value of $2,372,792.10. Following the sale, the insider owned 1,879,798 shares of the company’s stock, valued at $52,822,323.80. This represents a 4.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Hold 101 Lp Bsiv sold 1,632,160 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $33.22, for a total transaction of $54,220,355.20. Following the completion of the sale, the insider owned 12,620,558 shares in the company, valued at $419,254,936.76. This represents a 11.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 3,815,570 shares of company stock valued at $125,567,525. 74.26% of the stock is owned by company insiders.
Institutional Investors Weigh In On Neptune Insurance
A number of hedge funds and other institutional investors have recently modified their holdings of NP. PNC Financial Services Group Inc. boosted its holdings in shares of Neptune Insurance by 73.3% during the first quarter. PNC Financial Services Group Inc. now owns 7,440 shares of the company’s stock worth $180,000 after purchasing an additional 3,146 shares during the last quarter. FJ Capital Management LLC purchased a new position in shares of Neptune Insurance in the 4th quarter worth $289,000. AXQ Capital LP acquired a new position in Neptune Insurance in the second quarter valued at $296,000. Janus Henderson Group PLC acquired a new position in Neptune Insurance in the first quarter valued at $313,000. Finally, Arizona State Retirement System purchased a new stake in Neptune Insurance during the second quarter valued at about $329,000.
About Neptune Insurance
Neptune Insurance is a technology-enabled insurance company focused on providing flood insurance coverage for residential and commercial property owners. Its offerings are designed to complement or supplement coverage available through the National Flood Insurance Program and traditional homeowners’ insurance policies, which generally provide limited protection against flood damage.
The company distributes its policies through insurance agents and brokers, using a digital platform intended to streamline quoting, underwriting, policy management and claims handling.
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