Neptune Insurance (NYSE:NP) Hits New 1-Year High – What’s Next?

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on NP shares. Morgan Stanley boosted their price objective on shares of Neptune Insurance from $26.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $34.00 target price (up from $32.00) on shares of Neptune Insurance in a report on Wednesday. Raymond James Financial restated an “outperform” rating on shares of Neptune Insurance in a research note on Monday, April 27th. Bank of America upped their target price on Neptune Insurance from $23.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, April 14th. Finally, Mizuho increased their price target on Neptune Insurance from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Monday, April 13th. Eight analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Neptune Insurance has a consensus rating of “Hold” and an average target price of $28.39.

Neptune Insurance Stock Down 6.9%

The firm has a market cap of $4.35 billion and a P/E ratio of 116.57. The firm’s 50-day moving average price is $28.26 and its 200 day moving average price is $25.83.

Neptune Insurance (NYSE:NP) last posted its earnings results on Wednesday, April 22nd. The company reported $0.09 earnings per share (EPS) for the quarter, meeting 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. Neptune Insurance’s revenue for the quarter was up 28.8% on a year-over-year basis. On average, equities analysts predict that Neptune Insurance Holdings Inc. will post 0.4 earnings per share for the current year.

Insider Activity at Neptune Insurance

In other Neptune Insurance news, major shareholder Vii L.P. Ftv sold 5,252,044 shares of Neptune Insurance 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 owned 17,098,587 shares of the company’s stock, valued at $451,402,696.80. The trade was a 23.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Hold 101 Lp Bsiv sold 4,589,351 shares of Neptune Insurance 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 sale, the insider directly owned 14,941,121 shares in the company, valued at $394,445,594.40. The trade was a 23.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 11,317,604 shares of company stock valued at $298,784,746. Insiders own 74.26% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Maltese Capital Management LLC acquired a new position in Neptune Insurance during the 3rd quarter valued at about $3,200,000. Comerica Bank bought a new stake in shares of Neptune Insurance during the 4th quarter worth about $1,507,000. Capital World Investors acquired a new stake in shares of Neptune Insurance in the 4th quarter worth approximately $32,091,000. Vanguard Group Inc. bought a new position in shares of Neptune Insurance in the fourth quarter valued at approximately $47,063,000. Finally, Bregal Sagemount IV General Partner Jersey Ltd bought a new position in shares of Neptune Insurance in the fourth quarter valued at approximately $569,509,000.

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.