Neptune Insurance Holdings Inc. (NYSE:NP) Stock Has Consensus Target Price of $31.75 According to Brokerages

Shares of Neptune Insurance Holdings Inc. (NYSE:NP) have received a consensus recommendation of “Moderate Buy” from the fifteen research firms that are presently covering the company, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $31.54.

A number of equities research analysts have weighed in on NP shares. Evercore reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Neptune Insurance in a report on Wednesday, July 22nd. Mizuho cut their target price on Neptune Insurance from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Wednesday, October 7th. Keefe, Bruyette & Woods reduced their price target on Neptune Insurance from $34.00 to $33.00 and set a “market perform” rating for the company in a report on Friday, July 24th. Piper Sandler lifted their price target on Neptune Insurance from $30.00 to $39.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Finally, BMO Capital Markets downgraded Neptune Insurance from an “outperform” rating to a “market perform” rating and set a $32.00 price target on the stock. in a research note on Thursday, July 30th.

Neptune Insurance Price Performance

Neptune Insurance stock opened at $29.27 on Monday. The business has a 50 day simple moving average of $30.55 and a 200-day simple moving average of $29.25. Neptune Insurance has a 12 month low of $14.78 and a 12 month high of $35.15. The stock has a market capitalization of $4.02 billion and a PE ratio of 79.60.

Neptune Insurance (NYSE:NP) last posted its quarterly earnings data on Tuesday, July 21st. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. The firm had revenue of $55.87 million for the quarter, compared to analyst estimates of $52.38 million. Neptune Insurance had a net margin of 21.45% and a negative return on equity of 18.77%. As a group, equities research analysts anticipate that Neptune Insurance will post 0.40 EPS for the current year.

Insider Buying and Selling

In other news, insider Matthew Duffy sold 84,441 shares of the company’s stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $28.10, for a total transaction of $2,372,792.10. Following the transaction, the insider directly owned 1,879,798 shares of the company’s stock, valued at $52,822,323.80. This represents a 4.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Hold 101 Lp Bsiv sold 1,632,160 shares of the company’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $33.22, for a total transaction of $54,220,355.20. Following the transaction, the insider directly owned 12,620,558 shares in the company, valued at approximately $419,254,936.76. This trade represents a 11.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 3,815,570 shares of company stock valued at $125,567,525 in the last quarter. Corporate insiders own 74.26% of the company’s stock.

Institutional Investors Weigh In On Neptune Insurance

Hedge funds and other institutional investors have recently modified their holdings of the stock. State of Alaska Department of Revenue acquired a new stake in Neptune Insurance in the third quarter valued at $105,000. PNC Financial Services Group Inc. grew its position in shares of Neptune Insurance by 73.3% in the first quarter. PNC Financial Services Group Inc. now owns 7,440 shares of the company’s stock valued at $180,000 after purchasing an additional 3,146 shares during the last quarter. FJ Capital Management LLC acquired a new stake in shares of Neptune Insurance in the fourth quarter valued at approximately $289,000. AXQ Capital LP purchased a new position in shares of Neptune Insurance during the 2nd quarter worth approximately $296,000. Finally, Janus Henderson Group PLC purchased a new position in shares of Neptune Insurance during the 1st quarter worth approximately $313,000.

About Neptune Insurance

Neptune Insurance is a technology-enabled insurance company focused on providing flood insurance coverage for residential and commercial property owners. Its offerings are designed to complement or supplement coverage available through the National Flood Insurance Program and traditional homeowners’ insurance policies, which generally provide limited protection against flood damage.

The company distributes its policies through insurance agents and brokers, using a digital platform intended to streamline quoting, underwriting, policy management and claims handling.