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

Shares of Neptune Insurance Holdings Inc. (NYSE:NP) have been given a consensus rating of “Moderate Buy” by the fifteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $31.8214.

Several brokerages recently issued reports on NP. JPMorgan Chase & Co. raised their price target on Neptune Insurance from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Weiss Ratings raised Neptune Insurance from a “sell (d)” rating to a “hold (c)” rating in a research report on Friday, July 31st. Mizuho raised 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. Piper Sandler boosted their price target on shares of Neptune Insurance from $30.00 to $39.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Finally, Wells Fargo & Company upped their price target on shares of Neptune Insurance from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd.

Insider Activity

In related news, Director Jonathan Carlon sold 50,000 shares of the stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $31.15, for a total value of $1,557,500.00. Following the completion of the transaction, the director directly owned 603,500 shares of the company’s stock, valued at $18,799,025. This represents a 7.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Vii L.P. Ftv sold 1,867,840 shares of Neptune Insurance stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $33.22, for a total value of $62,049,644.80. Following the sale, the insider directly owned 14,442,941 shares in the company, valued at $479,794,500.02. The trade was a 11.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,650,000 shares of company stock worth $120,971,418 over the last ninety days. 74.26% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Bregal Sagemount IV General Partner Jersey Ltd bought a new stake in shares of Neptune Insurance during the fourth quarter valued at about $569,509,000. Capital World Investors bought a new position in Neptune Insurance in the 4th quarter valued at about $32,091,000. Azora Capital LP acquired a new position in Neptune Insurance during the 4th quarter valued at about $21,695,000. Capital International Investors bought a new stake in Neptune Insurance during the fourth quarter worth approximately $20,412,000. Finally, TimesSquare Capital Management LLC bought a new stake in shares of Neptune Insurance in the 4th quarter worth $12,260,000.

Neptune Insurance Stock Up 0.2%

Shares of NYSE:NP opened at $27.61 on Thursday. Neptune Insurance has a fifty-two week low of $14.78 and a fifty-two week high of $35.15. The firm has a 50-day simple moving average of $31.74 and a 200 day simple moving average of $28.53. The company has a market cap of $3.79 billion and a PE ratio of 110.44.

Neptune Insurance (NYSE:NP) last issued its earnings results on Tuesday, July 21st. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The firm had revenue of $55.87 million for the quarter, compared to analysts’ expectations 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, research analysts forecast that Neptune Insurance will post 0.4 EPS for the current fiscal year.

Neptune Insurance Company Profile

Neptune Insurance, commonly known as Neptune Flood, is a U.S.-focused insurtech company specializing in private flood insurance. Its products are designed to provide alternatives to coverage available through the National Flood Insurance Program and may cover residential properties, personal belongings, additional living expenses and certain commercial properties, subject to policy terms and availability.

The company distributes its insurance through independent agents and uses technology to support quoting, underwriting and policy administration.