Neptune Insurance (NYSE:NP) Announces Earnings Results, Misses Estimates By $0.01 EPS

Neptune Insurance (NYSE:NP) announced its quarterly earnings data on Wednesday. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01), Zacks reports. Neptune Insurance had a positive return on equity of 11.06% and a negative net margin of 2.53%.

Neptune Insurance Stock Performance

NP traded down $0.62 during trading on Wednesday, hitting $25.01. 111,353 shares of the company traded hands, compared to its average volume of 465,618. Neptune Insurance has a one year low of $22.30 and a one year high of $33.23. The stock’s fifty day moving average is $28.81 and its 200 day moving average is $30.88. The company has a quick ratio of 1.22, a current ratio of 2.01 and a debt-to-equity ratio of 1.55. The firm has a market cap of $3.45 billion, a P/E ratio of -15.25 and a beta of 1.46.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on NP shares. TD Cowen began coverage on shares of Neptune Insurance in a research note on Monday, October 27th. They issued a “buy” rating and a $32.00 target price on the stock. Keefe, Bruyette & Woods assumed coverage on shares of Neptune Insurance in a research note on Monday, October 27th. They issued a “market perform” rating and a $26.00 price objective for the company. The Goldman Sachs Group started coverage on Neptune Insurance in a report on Monday, October 27th. They issued a “buy” rating and a $30.00 price target on the stock. Morgan Stanley started coverage on Neptune Insurance in a report on Monday, October 27th. They set an “equal weight” rating and a $26.00 price objective for the company. Finally, JPMorgan Chase & Co. initiated coverage on Neptune Insurance in a research report on Monday, October 27th. They issued a “neutral” rating and a $25.00 price objective on the stock. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $27.54.

Insider Transactions at Neptune Insurance

In other Neptune Insurance news, major shareholder Hold 101 Lp Bsiv sold 820,123 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $18.75, for a total transaction of $15,377,306.25. Following the completion of the transaction, the insider directly owned 19,530,472 shares of the company’s stock, valued at approximately $366,196,350. This represents a 4.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Vii L.P. Ftv sold 678,019 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $18.75, for a total value of $12,712,856.25. Following the transaction, the insider directly owned 22,350,631 shares in the company, valued at $419,074,331.25. This represents a 2.94% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.63% of the stock is owned by insiders.

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.