Neptune Insurance (NYSE:NP) Shares Up 8.6% – Here’s Why

Neptune Insurance Holdings Inc. (NYSE:NP) was up 8.6% during trading on Wednesday . The company traded as high as $34.58 and last traded at $34.6250. Approximately 906,003 shares traded hands during trading, an increase of 48% from the average session volume of 610,769 shares. The stock had previously closed at $31.88.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NP. Bank of America upped their price objective on shares of Neptune Insurance from $23.00 to $26.00 and gave the company a “neutral” rating in a research note on Tuesday, April 14th. Piper Sandler raised their price objective on Neptune Insurance from $30.00 to $39.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. JPMorgan Chase & Co. boosted their target price on Neptune Insurance from $26.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. Mizuho raised their price target on Neptune Insurance from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Neptune Insurance in a research note on Monday, April 27th. Eight investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Neptune Insurance currently has a consensus rating of “Hold” and an average target price of $30.61.

Neptune Insurance Stock Performance

The firm has a market cap of $4.84 billion and a PE ratio of 139.19. The company’s 50-day simple moving average is $29.30 and its two-hundred day simple moving average is $26.01.

Neptune Insurance (NYSE:NP) last released its quarterly earnings data on Tuesday, July 21st. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. The firm had revenue of $55.87 million for the quarter, compared to analysts’ expectations of $52.38 million. Neptune Insurance had a net margin of 21.45% and a negative return on equity of 18.77%. On average, analysts expect that Neptune Insurance Holdings Inc. will post 0.4 EPS for the current year.

Insider Transactions at Neptune Insurance

In related news, major shareholder Vii L.P. Ftv sold 5,252,044 shares of the business’s stock in a transaction dated 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 transaction, the insider owned 17,098,587 shares in the company, valued at $451,402,696.80. The trade was a 23.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Hold 101 Lp Bsiv sold 4,589,351 shares of the company’s stock in a transaction that occurred 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 transaction, the insider directly owned 14,941,121 shares of the company’s stock, 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. In the last 90 days, insiders have sold 11,317,604 shares of company stock worth $298,784,746. 74.26% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN purchased a new position in shares of Neptune Insurance during the 4th quarter worth approximately $28,000. PNC Financial Services Group Inc. raised its position in shares of Neptune Insurance by 73.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,440 shares of the company’s stock worth $180,000 after acquiring an additional 3,146 shares in the last quarter. Symmetry Investments LP purchased a new position in shares of Neptune Insurance in the 4th quarter valued at approximately $204,000. FJ Capital Management LLC bought a new stake in shares of Neptune Insurance during the fourth quarter valued at approximately $289,000. Finally, BIT Capital GmbH bought a new stake in shares of Neptune Insurance during the fourth quarter valued at approximately $292,000.

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.