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

Shares of Neptune Insurance Holdings Inc. (NYSE:NP) have received an average rating of “Moderate Buy” from the fourteen brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $27.4231.

Several research firms have commented on NP. BMO Capital Markets upgraded Neptune Insurance from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $25.00 to $20.00 in a report on Friday, February 13th. Mizuho lifted their price objective on Neptune Insurance from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, April 13th. Bank of America lifted their price objective on Neptune Insurance from $23.00 to $26.00 and gave the company a “neutral” rating in a research note on Tuesday, April 14th. Raymond James Financial set a $24.00 price objective on Neptune Insurance in a research note on Monday, February 23rd. Finally, Piper Sandler reduced their price objective on Neptune Insurance from $33.00 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday, February 19th.

Neptune Insurance Price Performance

NP opened at $26.73 on Monday. The stock has a market capitalization of $3.69 billion and a price-to-earnings ratio of 121.49. The business has a 50-day moving average of $23.09 and a two-hundred day moving average of $24.89. Neptune Insurance has a 12 month low of $14.78 and a 12 month high of $33.23.

Neptune Insurance (NYSE:NP) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $0.09 EPS for the quarter, meeting the consensus estimate of $0.09. The business 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% on a year-over-year basis. Equities research analysts anticipate that Neptune Insurance will post 0.38 earnings per share for the current year.

Insider Activity

In other news, Director Michael Warren Vostrizansky acquired 23,000 shares of Neptune Insurance stock in a transaction dated Friday, February 20th. The shares were acquired at an average cost of $21.50 per share, with a total value of $494,500.00. Following the purchase, the director directly owned 23,000 shares of the company’s stock, valued at approximately $494,500. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Trevor R. Burgess acquired 50,000 shares of Neptune Insurance stock in a transaction dated Friday, March 13th. The stock was purchased at an average cost of $18.71 per share, for a total transaction 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 approximately $38,972,256.44. This represents a 2.46% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On Neptune Insurance

Several hedge funds and other institutional investors have recently bought and sold shares of NP. Emerald Mutual Fund Advisers Trust acquired a new position in Neptune Insurance during the 3rd quarter worth approximately $792,000. Maltese Capital Management LLC acquired a new position in Neptune Insurance during the 3rd quarter worth approximately $3,200,000. FNY Investment Advisers LLC acquired a new position in Neptune Insurance during the 3rd quarter worth approximately $171,000. Massachusetts Financial Services Co. MA acquired a new position in Neptune Insurance during the 4th quarter worth approximately $759,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Neptune Insurance during the 4th quarter worth approximately $2,068,000.

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.