Neptune Insurance Holdings Inc. (NYSE:NP) Receives Average Rating of “Moderate Buy” from Analysts

Neptune Insurance Holdings Inc. (NYSE:NP) has been given an average recommendation of “Moderate Buy” by the fourteen research firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $26.50.

Several equities research analysts recently commented on NP shares. Morgan Stanley cut their target price on shares of Neptune Insurance from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 4th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $32.50 price target on shares of Neptune Insurance in a research note on Wednesday, January 7th. Keefe, Bruyette & Woods upgraded shares of Neptune Insurance from a “market perform” rating to an “outperform” rating and cut their price target for the stock from $26.00 to $25.00 in a report on Thursday, February 19th. BMO Capital Markets raised shares of Neptune Insurance from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from $25.00 to $20.00 in a research note on Friday, February 13th. Finally, Evercore set a $30.00 price objective on Neptune Insurance in a report on Thursday, February 19th.

Insider Activity

In related news, CEO Trevor R. Burgess acquired 50,000 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The shares were bought at an average cost of $18.71 per share, with a total value of $935,500.00. Following the completion of the purchase, the chief executive officer directly owned 2,082,964 shares in the company, valued at $38,972,256.44. The trade was a 2.46% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael Warren Vostrizansky bought 23,000 shares of Neptune Insurance stock in a transaction that occurred on Friday, February 20th. The stock was bought at an average price of $21.50 per share, for a total transaction of $494,500.00. Following the completion of the acquisition, the director directly owned 23,000 shares of the company’s stock, valued at $494,500. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On Neptune Insurance

Institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN acquired a new stake in shares of Neptune Insurance during the fourth quarter worth $28,000. PNC Financial Services Group Inc. bought a new position in Neptune Insurance during the fourth quarter worth $125,000. FNY Investment Advisers LLC acquired a new position in Neptune Insurance in the third quarter valued at $171,000. Symmetry Investments LP bought a new stake in Neptune Insurance during the fourth quarter valued at $204,000. Finally, FJ Capital Management LLC bought a new stake in Neptune Insurance during the fourth quarter valued at $289,000.

Neptune Insurance Trading Up 4.8%

Neptune Insurance stock opened at $23.28 on Thursday. The stock has a 50-day moving average price of $22.36 and a two-hundred day moving average price of $25.76. Neptune Insurance has a 12 month low of $14.78 and a 12 month high of $33.23. The company has a market capitalization of $3.22 billion and a PE ratio of 105.80.

Neptune Insurance (NYSE:NP) last released its quarterly earnings results on Wednesday, February 18th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. The firm had revenue of $43.77 million for the quarter, compared to the consensus estimate of $39.42 million.

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.