Neptune Insurance Holdings Inc. (NYSE:NP) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Neptune Insurance Holdings Inc. (NYSE:NP) have been given a consensus recommendation of “Moderate Buy” by the fifteen ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $28.25.

A number of equities analysts have weighed in on NP shares. Evercore reiterated an “outperform” rating on shares of Neptune Insurance in a report on Friday, May 8th. Wells Fargo & Company assumed coverage on Neptune Insurance in a research report on Tuesday. They issued an “overweight” rating and a $35.00 target price on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Neptune Insurance in a report on Monday, April 20th. Keefe, Bruyette & Woods boosted their price target on Neptune Insurance from $28.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Finally, Bank of America upped their price target on Neptune Insurance from $23.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 14th.

Neptune Insurance Price Performance

Shares of NP stock opened at $33.12 on Friday. The firm has a market cap of $4.58 billion and a P/E ratio of 122.68. Neptune Insurance has a 1-year low of $14.78 and a 1-year high of $34.41. The firm’s 50-day simple moving average is $27.90 and its 200-day simple moving average is $25.76.

Neptune Insurance (NYSE:NP) last released its earnings results on Wednesday, April 22nd. The company reported $0.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.09. The company had revenue of $37.80 million during the quarter, compared to analysts’ expectations of $36.96 million. The business’s revenue for the quarter was up 28.8% compared to the same quarter last year. Analysts expect that Neptune Insurance will post 0.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Vii L.P. Ftv sold 787,806 shares of the firm’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $26.40, for a total value of $20,798,078.40. Following the transaction, the insider owned 16,310,781 shares of the company’s stock, valued at approximately $430,604,618.40. This trade represents a 4.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Hold 101 Lp Bsiv sold 688,403 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $26.40, for a total transaction of $18,173,839.20. Following the sale, the insider directly owned 14,252,718 shares of the company’s stock, valued at approximately $376,271,755.20. This trade represents a 4.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 11,317,604 shares of company stock valued at $298,784,746. Corporate insiders own 74.26% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NP. Wells Fargo & Company MN purchased a new stake in shares of Neptune Insurance in the fourth quarter worth about $28,000. PNC Financial Services Group Inc. purchased a new stake in shares of Neptune Insurance during the 4th quarter valued at about $125,000. FNY Investment Advisers LLC acquired a new position in Neptune Insurance during the 3rd quarter worth approximately $171,000. Symmetry Investments LP acquired a new position in Neptune Insurance during the 4th quarter worth approximately $204,000. Finally, FJ Capital Management LLC purchased a new position in Neptune Insurance in the 4th quarter worth approximately $289,000.

About Neptune Insurance

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.