Neptune Insurance (NYSE:NP) Issues Quarterly Earnings Results

Neptune Insurance (NYSE:NP) released its quarterly earnings data on Tuesday. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01, FiscalAI reports. The firm had revenue of $55.87 million during the quarter, compared to analysts’ expectations of $52.39 million.

Neptune Insurance Price Performance

NP traded down $1.38 during trading hours on Tuesday, hitting $30.21. 728,426 shares of the stock were exchanged, compared to its average volume of 600,991. The stock has a 50-day simple moving average of $28.96 and a 200-day simple moving average of $25.93. Neptune Insurance has a 12 month low of $14.78 and a 12 month high of $34.61. The stock has a market cap of $4.18 billion and a price-to-earnings ratio of 111.88.

Insider Buying and Selling at Neptune Insurance

In other news, major shareholder Hold 101 Lp Bsiv sold 688,403 shares of Neptune Insurance stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $26.40, for a total value of $18,173,839.20. Following the completion of the transaction, the insider directly owned 14,252,718 shares of the company’s stock, valued at approximately $376,271,755.20. The trade was a 4.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Vii L.P. Ftv sold 787,806 shares of the business’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $26.40, for a total transaction of $20,798,078.40. Following the sale, the insider directly owned 16,310,781 shares of the company’s stock, valued at approximately $430,604,618.40. This represents a 4.61% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 11,317,604 shares of company stock valued at $298,784,746. 74.26% of the stock is owned by insiders.

Hedge Funds Weigh In On Neptune Insurance

Several institutional investors have recently made changes to their positions in NP. Readystate Asset Management LP acquired a new position in Neptune Insurance during the 4th quarter valued at approximately $1,448,000. Hound Partners LLC bought a new position in shares of Neptune Insurance during the fourth quarter worth about $1,473,000. Fred Alger Management LLC acquired a new stake in shares of Neptune Insurance in the 4th quarter worth about $628,000. State Street Corp bought a new stake in Neptune Insurance in the 4th quarter valued at about $1,753,000. Finally, Boston Partners acquired a new position in Neptune Insurance during the 4th quarter valued at about $843,000.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Evercore restated an “outperform” rating on shares of Neptune Insurance in a report on Friday, May 8th. Wells Fargo & Company initiated coverage on shares of Neptune Insurance in a research note on Tuesday, June 30th. They issued an “overweight” rating and a $35.00 target price on the stock. Raymond James Financial reaffirmed an “outperform” rating on shares of Neptune Insurance in a research report on Monday, April 27th. Weiss Ratings restated a “sell (d)” rating on shares of Neptune Insurance in a research note on Friday. Finally, Mizuho increased their target price on Neptune Insurance from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Eight equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $29.82.

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.