Neptune Insurance (NP) Expected to Release Earnings on Tuesday

Neptune Insurance (NYSE:NP) is expected to post its results before the market opens on Tuesday, July 21st. Analysts expect the company to announce earnings of $0.14 per share and revenue of $52.4570 million for the quarter.

Neptune Insurance (NYSE:NP) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $0.09 earnings per share for the quarter, hitting 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. On average, analysts expect Neptune Insurance to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Neptune Insurance Stock Up 1.0%

Shares of Neptune Insurance stock opened at $32.23 on Tuesday. The company has a market capitalization of $4.46 billion and a price-to-earnings ratio of 119.38. Neptune Insurance has a 12-month low of $14.78 and a 12-month high of $34.61. The firm’s 50-day moving average price is $28.64 and its two-hundred day moving average price is $25.89.

Insider Transactions at Neptune Insurance

In other news, major shareholder Hold 101 Lp Bsiv sold 4,589,351 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $26.40, for a total value of $121,158,866.40. Following the completion of the transaction, the insider owned 14,941,121 shares of the company’s stock, valued at approximately $394,445,594.40. This represents a 23.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 shares were sold at an average price of $26.40, for a total transaction of $138,653,961.60. Following the completion of the sale, the insider owned 17,098,587 shares in the company, valued at approximately $451,402,696.80. The trade was a 23.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 11,317,604 shares of company stock worth $298,784,746. Company insiders own 74.26% of the company’s stock.

Hedge Funds Weigh In On Neptune Insurance

A number of institutional investors have recently added to or reduced their stakes in NP. PNC Financial Services Group Inc. bought a new position in Neptune Insurance in the 4th quarter valued at approximately $125,000. Geode Capital Management LLC bought a new stake in shares of Neptune Insurance during the fourth quarter worth $5,770,000. Norges Bank bought a new stake in shares of Neptune Insurance during the fourth quarter worth $2,479,000. Goldman Sachs Group Inc. acquired a new position in shares of Neptune Insurance during the fourth quarter worth $6,407,000. Finally, TD Asset Management Inc acquired a new position in shares of Neptune Insurance during the fourth quarter worth $3,221,000.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on NP shares. JPMorgan Chase & Co. boosted their target price on shares of Neptune Insurance from $26.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday. Weiss Ratings reiterated a “sell (d)” rating on shares of Neptune Insurance in a research report on Monday, April 20th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $34.00 price objective (up from $32.00) on shares of Neptune Insurance in a research note on Wednesday, July 8th. Wells Fargo & Company initiated coverage on shares of Neptune Insurance in a research report on Tuesday, June 30th. They set an “overweight” rating and a $35.00 price objective for the company. Finally, Morgan Stanley upped their target price on Neptune Insurance from $26.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 21st. Eight research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $29.18.

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.