Neptune Insurance (NP) Expected to Post Quarterly Earnings on Tuesday

Neptune Insurance (NYSE:NP) is expected to issue its results after the market closes on Tuesday, July 21st. Analysts expect the company to announce earnings of $0.14 per share and revenue of $52.3870 million for the quarter.

Neptune Insurance (NYSE:NP) last released its earnings results on Wednesday, April 22nd. The company reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. The firm had revenue of $37.80 million for the quarter, compared to analyst estimates of $36.96 million. The firm’s revenue for the quarter was up 28.8% compared to the same quarter last year. On average, analysts expect Neptune Insurance to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Neptune Insurance Stock Up 0.1%

Shares of NYSE NP opened at $31.07 on Monday. Neptune Insurance has a 52 week low of $14.78 and a 52 week high of $34.61. The business’s 50 day moving average price is $28.94 and its 200 day moving average price is $25.92. The firm has a market cap of $4.30 billion and a P/E ratio of 115.07.

Wall Street Analyst Weigh In

Several analysts have commented on NP shares. Wells Fargo & Company started coverage on shares of Neptune Insurance in a research note on Tuesday, June 30th. They set an “overweight” rating and a $35.00 price objective for the company. Bank of America raised their target price on shares of Neptune Insurance from $23.00 to $26.00 and gave the stock a “neutral” rating in a report on Tuesday, April 14th. Mizuho upped their price target on shares of Neptune Insurance from $29.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Raymond James Financial reaffirmed an “outperform” rating on shares of Neptune Insurance in a research report on Monday, April 27th. Finally, Morgan Stanley boosted their price objective on Neptune Insurance from $26.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, May 21st. Eight equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $29.82.

Insider Buying and Selling

In related news, major shareholder Hold 101 Lp Bsiv sold 688,403 shares of the business’s stock in a transaction on 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 in the company, valued at $376,271,755.20. The trade was a 4.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Vii L.P. Ftv sold 787,806 shares of the stock in a transaction on Tuesday, May 19th. The stock was 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 in the company, valued at $430,604,618.40. This trade represents a 4.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 11,317,604 shares of company stock worth $298,784,746 in the last ninety days. Corporate insiders own 74.26% of the company’s stock.

Institutional Investors Weigh In On Neptune Insurance

Hedge funds have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Neptune Insurance during the 4th quarter valued at about $133,488,000. XTX Topco Ltd acquired a new position in Neptune Insurance in the 4th quarter worth about $361,000. Zimmer Partners LP purchased a new position in Neptune Insurance during the fourth quarter worth approximately $3,645,000. Symmetry Investments LP purchased a new position in Neptune Insurance during the fourth quarter worth approximately $204,000. Finally, Readystate Asset Management LP acquired a new stake in Neptune Insurance in the fourth quarter valued at approximately $1,448,000.

About Neptune Insurance

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.