Neptune Insurance (NYSE:NP) Sets New 12-Month High – Still a Buy?

Neptune Insurance Holdings Inc. (NYSE:NP) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $34.40 and last traded at $34.3950, with a volume of 260684 shares changing hands. The stock had previously closed at $33.39.

Analyst Ratings Changes

NP has been the topic of several analyst reports. Raymond James Financial reaffirmed an “outperform” rating on shares of Neptune Insurance in a report on Monday, April 27th. Keefe, Bruyette & Woods raised their price objective on shares of Neptune Insurance from $28.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Evercore reaffirmed an “outperform” rating on shares of Neptune Insurance in a report on Friday, May 8th. Bank of America boosted their target price on Neptune Insurance from $23.00 to $26.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 14th. Finally, Wells Fargo & Company assumed coverage on Neptune Insurance in a research note on Tuesday, June 30th. They set an “overweight” rating and a $35.00 target price for the company. Nine investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $28.25.

Neptune Insurance Stock Performance

The stock’s fifty day moving average price is $28.02 and its 200-day moving average price is $25.78. The firm has a market cap of $4.76 billion and a PE ratio of 127.31.

Neptune Insurance (NYSE:NP) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. The company had revenue of $37.80 million for the quarter, compared to analysts’ expectations of $36.96 million. Neptune Insurance’s quarterly revenue was up 28.8% compared to the same quarter last year. Sell-side analysts forecast that Neptune Insurance Holdings Inc. will post 0.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Neptune Insurance

In other Neptune Insurance news, major shareholder Vii L.P. Ftv sold 5,252,044 shares of the business’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $26.40, for a total transaction of $138,653,961.60. Following the sale, the insider directly owned 17,098,587 shares in the company, valued at approximately $451,402,696.80. The trade was a 23.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Hold 101 Lp Bsiv sold 4,589,351 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $26.40, for a total value of $121,158,866.40. Following the completion of the transaction, the insider owned 14,941,121 shares of the company’s stock, valued at approximately $394,445,594.40. This represents a 23.50% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 11,317,604 shares of company stock valued at $298,784,746. 74.26% of the stock is currently owned by insiders.

Institutional Trading of Neptune Insurance

Several large investors have recently modified their holdings of NP. Bregal Sagemount IV General Partner Jersey Ltd acquired a new position in shares of Neptune Insurance during the 4th quarter worth approximately $569,509,000. T. Rowe Price Investment Management Inc. purchased a new position in Neptune Insurance during the fourth quarter worth $133,488,000. Vanguard Group Inc. purchased a new position in Neptune Insurance during the fourth quarter worth $47,063,000. Capital World Investors acquired a new position in shares of Neptune Insurance in the fourth quarter worth $32,091,000. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Neptune Insurance during the fourth quarter valued at $29,051,000.

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.