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

Shares of Neptune Insurance Holdings Inc. (NYSE:NP) have earned an average recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $31.8214.

A number of analysts have recently issued reports on the company. Mizuho lifted their price target on Neptune Insurance from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Piper Sandler boosted their price objective on Neptune Insurance from $30.00 to $39.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods cut their target price on Neptune Insurance from $34.00 to $33.00 and set a “market perform” rating on the stock in a research note on Friday, July 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $33.00 target price on shares of Neptune Insurance in a research note on Wednesday, July 22nd. Finally, Evercore reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Neptune Insurance in a research note on Wednesday, July 22nd.

Insider Buying and Selling

In other news, major shareholder Vii L.P. Ftv sold 1,867,840 shares of Neptune Insurance stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $33.22, for a total value of $62,049,644.80. Following the completion of the transaction, the insider owned 14,442,941 shares of the company’s stock, valued at $479,794,500.02. The trade was a 11.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan Carlon sold 50,000 shares of Neptune Insurance stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $31.15, for a total transaction 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 trade represents a 7.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,650,000 shares of company stock valued at $120,971,418 over the last ninety days. Insiders own 74.26% of the company’s stock.

Hedge Funds Weigh In On Neptune Insurance

Institutional investors and hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. increased its position in shares of Neptune Insurance by 73.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,440 shares of the company’s stock valued at $180,000 after purchasing an additional 3,146 shares during the last quarter. AXQ Capital LP purchased a new stake in Neptune Insurance during the 2nd quarter valued at approximately $296,000. FJ Capital Management LLC purchased a new position in Neptune Insurance during the 4th quarter valued at approximately $289,000. BIT Capital GmbH bought a new position in Neptune Insurance during the fourth quarter valued at $292,000. Finally, Arizona State Retirement System bought a new stake in Neptune Insurance during the second quarter worth approximately $329,000.

Neptune Insurance Price Performance

NYSE:NP opened at $28.81 on Thursday. The stock’s fifty day moving average price is $31.89 and its two-hundred day moving average price is $28.45. Neptune Insurance has a 1 year low of $14.78 and a 1 year high of $35.15. The company has a market cap of $3.95 billion and a P/E ratio of 115.24.

Neptune Insurance (NYSE:NP) last announced its quarterly 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. Neptune Insurance had a net margin of 21.45% and a negative return on equity of 18.77%. The firm had revenue of $55.87 million for the quarter, compared to the consensus estimate of $52.38 million. On average, analysts expect that Neptune Insurance will post 0.4 earnings per share for the current fiscal year.

About Neptune Insurance

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.