Neptune Insurance (NYSE:NP – Get Free Report) posted its earnings results on Tuesday. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01, FiscalAI reports. The business had revenue of $59.57 million for the quarter, compared to analyst estimates of $56.59 million. Neptune Insurance had a net margin of 21.45% and a negative return on equity of 18.77%.
Neptune Insurance Price Performance
NYSE:NP traded up $0.24 during trading hours on Tuesday, hitting $29.54. The company had a trading volume of 435,147 shares, compared to its average volume of 589,194. The stock has a 50-day moving average price of $30.52 and a 200 day moving average price of $29.33. The company has a market capitalization of $4.05 billion and a PE ratio of 118.15. Neptune Insurance has a 52 week low of $14.78 and a 52 week high of $35.15.
Insiders Place Their Bets
In related news, major shareholder Vii L.P. Ftv sold 1,867,840 shares of Neptune Insurance stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $33.22, for a total transaction of $62,049,644.80. Following the sale, the insider directly owned 14,442,941 shares in the company, valued at $479,794,500.02. The trade was a 11.45% decrease in their ownership of the stock. 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 1,632,160 shares of the company’s stock in a transaction dated Wednesday, July 29th. The stock was 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 directly 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. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 3,815,570 shares of company stock worth $125,567,525. Company insiders own 74.26% of the company’s stock.
Wall Street Analyst Weigh In
NP has been the topic of a number of research reports. Morgan Stanley raised Neptune Insurance from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $31.00 to $36.00 in a report on Wednesday, August 19th. Weiss Ratings lowered shares of Neptune Insurance from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. BMO Capital Markets lowered shares of Neptune Insurance from an “outperform” rating to a “market perform” rating and set a $32.00 target price on the stock. in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Neptune Insurance in a research report on Wednesday, September 23rd. Finally, Piper Sandler reissued an “overweight” rating on shares of Neptune Insurance in a research note on Monday. Eight analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.54.
View Our Latest Analysis on NP
About Neptune Insurance
Neptune Insurance is a technology-enabled insurance company focused primarily on flood coverage for residential and commercial policyholders. Its platform is designed to streamline the insurance process, including quoting, underwriting and policy management, while providing coverage tailored to properties that may face flood-related risks.
The company offers flood insurance products for homeowners, renters, landlords and businesses. Its offerings are intended to complement or provide an alternative to coverage available through traditional government and private-market flood insurance programs, depending on the policyholder’s location and eligibility.
Neptune’s business is primarily focused on the United States, where flood risk varies significantly by geography and many properties are outside federally designated high-risk areas.
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