Neptune Insurance (NYSE:NP) Trading Up 4.6% – What’s Next?

Neptune Insurance Holdings Inc. (NYSE:NP)’s stock price was up 4.6% during trading on Friday . The stock traded as high as $25.16 and last traded at $25.1850. Approximately 61,681 shares traded hands during trading, a decline of 88% from the average daily volume of 522,050 shares. The stock had previously closed at $24.08.

Analyst Ratings Changes

Several equities research analysts have commented on NP shares. Morgan Stanley boosted their price objective 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. BMO Capital Markets upgraded Neptune Insurance from a “market perform” rating to an “outperform” rating and dropped their price target for the company from $25.00 to $20.00 in a research report on Friday, February 13th. Evercore restated an “outperform” rating on shares of Neptune Insurance in a research report on Friday, May 8th. Piper Sandler dropped their price target on Neptune Insurance from $33.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. Finally, Raymond James Financial restated an “outperform” rating on shares of Neptune Insurance in a research report on Monday, April 27th. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.73.

Neptune Insurance Price Performance

The stock has a market capitalization of $3.53 billion and a price-to-earnings ratio of 94.61. The business has a fifty day moving average of $26.54 and a 200 day moving average of $25.12.

Neptune Insurance (NYSE:NP) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. The business had revenue of $37.80 million during the quarter, compared to analyst estimates of $36.96 million. The company’s revenue was up 28.8% compared to the same quarter last year. On average, equities research analysts expect that Neptune Insurance Holdings Inc. will post 0.4 EPS for the current year.

Insider Activity at Neptune Insurance

In other Neptune Insurance news, CEO Trevor R. Burgess acquired 50,000 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were purchased at an average cost of $18.71 per share, for a total transaction of $935,500.00. Following the completion of the acquisition, the chief executive officer owned 2,082,964 shares of the company’s stock, valued at approximately $38,972,256.44. The trade was a 2.46% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Vii L.P. Ftv sold 5,252,044 shares of the company’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 value of $138,653,961.60. Following the completion of the transaction, the insider owned 17,098,587 shares in the company, valued at $451,402,696.80. This represents a 23.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 11,317,604 shares of company stock worth $298,784,746. Insiders own 74.26% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Maltese Capital Management LLC purchased a new position in shares of Neptune Insurance during the third quarter worth $3,200,000. Comerica Bank purchased a new position in shares of Neptune Insurance during the fourth quarter worth $1,507,000. Vanguard Group Inc. purchased a new position in shares of Neptune Insurance during the fourth quarter worth $47,063,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Neptune Insurance during the fourth quarter worth $2,068,000. Finally, TimesSquare Capital Management LLC purchased a new position in shares of Neptune Insurance during the fourth quarter worth $12,260,000.

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.