Neptune Insurance Holdings Inc. (NP) – What Are Brokerages Saying About This Stock?

Shares of Neptune Insurance Holdings Inc. (NYSE:NP) have earned an average rating of “Moderate Buy” from the thirteen ratings firms that are covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $32.29.

Several research firms have commented on NP. Weiss Ratings raised shares of Neptune Insurance from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 23rd. Piper Sandler reissued an “overweight” rating on shares of Neptune Insurance in a research note on Monday, October 19th. Morgan Stanley decreased their price objective on Neptune Insurance from $36.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, October 22nd. Keefe, Bruyette & Woods lifted their price objective on Neptune Insurance from $32.00 to $33.00 and gave the company a “market perform” rating in a research report on Wednesday, October 21st. Finally, Deutsche Bank reiterated a “buy” rating on shares of Neptune Insurance in a research note on Wednesday, September 23rd.

Neptune Insurance Stock Up 0.2%

Shares of NP stock opened at $28.54 on Friday. Neptune Insurance has a fifty-two week low of $14.78 and a fifty-two week high of $35.15. The stock has a market cap of $3.94 billion and a P/E ratio of 69.46. The business has a fifty day simple moving average of $29.06 and a 200-day simple moving average of $27.61.

Neptune Insurance (NYSE:NP) last released its quarterly earnings results on Tuesday, October 20th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01. The business had revenue of $59.57 million for the quarter, compared to analyst estimates of $56.59 million. Neptune Insurance had a net margin of 22.71% and a negative return on equity of 26.63%. On average, sell-side analysts anticipate that Neptune Insurance will post 0.41 earnings per share for the current year.

Insider Transactions at Neptune Insurance

In other news, insider Matthew Duffy sold 86,000 shares of the company’s stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $28.04, for a total transaction of $2,411,440.00. Following the completion of the transaction, the insider owned 1,705,798 shares of the company’s stock, valued at $47,830,575.92. This represents a 4.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Trevor R. Burgess sold 4,431 shares of the stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $27.63, for a total transaction of $122,428.53. Following the transaction, the chief executive officer owned 1,902,520 shares in the company, valued at approximately $52,566,627.60. The trade was a 0.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 795,722 shares of company stock worth $22,608,359. 74.26% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Neptune Insurance

Institutional investors and hedge funds have recently bought and sold shares of the stock. USS Investment Management Ltd raised its stake in Neptune Insurance by 152.0% during the third quarter. USS Investment Management Ltd now owns 311,686 shares of the company’s stock worth $8,523,000 after purchasing an additional 187,996 shares during the period. Public Sector Pension Investment Board acquired a new position in shares of Neptune Insurance in the 3rd quarter valued at $6,017,000. Fifth Third Bancorp boosted its holdings in shares of Neptune Insurance by 30.2% in the 3rd quarter. Fifth Third Bancorp now owns 82,615 shares of the company’s stock valued at $2,260,000 after purchasing an additional 19,165 shares during the last quarter. State of Wyoming grew its stake in shares of Neptune Insurance by 80.7% during the 3rd quarter. State of Wyoming now owns 5,026 shares of the company’s stock valued at $137,000 after buying an additional 2,244 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in shares of Neptune Insurance by 41.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,727 shares of the company’s stock valued at $47,000 after buying an additional 503 shares during the period.

Neptune Insurance Company Profile

Neptune Insurance is a technology-enabled provider of private flood insurance. Founded in 2016, the company uses data analytics and risk modeling to assess flood exposure and support policy underwriting and distribution. Its products include flood coverage for residential and commercial properties, with options for protection of buildings and contents. Neptune distributes its policies through a network of insurance agents and serves customers across the United States. Founder Trevor Burgess has served as the company’s chief executive officer.