Neptune Insurance (NYSE:NP) Shares Up 9.5% – Here’s Why

Neptune Insurance Holdings Inc. (NYSE:NP)’s stock price was up 9.5% during trading on Tuesday . The stock traded as high as $26.84 and last traded at $26.61. Approximately 242,608 shares were traded during trading, a decline of 40% from the average daily volume of 405,387 shares. The stock had previously closed at $24.31.

Analysts Set New Price Targets

Several analysts recently issued reports on NP shares. Keefe, Bruyette & Woods began coverage on Neptune Insurance in a research note on Monday, October 27th. They issued a “market perform” rating and a $26.00 target price on the stock. JPMorgan Chase & Co. assumed coverage on Neptune Insurance in a research report on Monday, October 27th. They set a “neutral” rating and a $25.00 price target on the stock. Morgan Stanley raised their price objective on Neptune Insurance from $26.00 to $27.00 and gave the company an “equal weight” rating in a research report on Monday, November 17th. BMO Capital Markets started coverage on shares of Neptune Insurance in a research note on Monday, October 27th. They set a “market perform” rating and a $25.00 target price for the company. Finally, The Goldman Sachs Group started coverage on Neptune Insurance in a report on Monday, October 27th. They issued a “buy” rating and a $30.00 price objective for the company. Seven analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Neptune Insurance presently has a consensus rating of “Hold” and a consensus target price of $27.96.

Neptune Insurance Price Performance

The company has a current ratio of 2.01, a quick ratio of 1.22 and a debt-to-equity ratio of 1.55. The firm’s fifty day moving average price is $25.75 and its 200 day moving average price is $29.80. The firm has a market capitalization of $3.66 billion, a PE ratio of -16.15 and a beta of 1.46.

Neptune Insurance (NYSE:NP) last released its quarterly earnings data on Wednesday, November 12th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.01). The company had revenue of $44.37 million during the quarter, compared to analysts’ expectations of $42.58 million. Neptune Insurance had a positive return on equity of 11.06% and a negative net margin of 2.53%.

Insider Transactions at Neptune Insurance

In other news, Director Jonathan Winant Carlon bought 5,000 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The shares were acquired at an average price of $20.00 per share, for a total transaction of $100,000.00. Following the completion of the transaction, the director directly owned 653,500 shares in the company, valued at $13,070,000. The trade was a 0.77% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Hold 101 Lp Bsiv sold 820,123 shares of Neptune Insurance stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $18.75, for a total transaction of $15,377,306.25. Following the sale, the insider directly owned 19,530,472 shares in the company, valued at approximately $366,196,350. This trade represents a 4.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders bought a total of 174,050 shares of company stock worth $3,481,000 in the last three months. 0.63% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Neptune Insurance

An institutional investor recently bought a new position in Neptune Insurance stock. Emerald Mutual Fund Advisers Trust purchased a new stake in Neptune Insurance Holdings Inc. (NYSE:NP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 24,761 shares of the company’s stock, valued at approximately $792,000. Institutional investors own 93.37% of the company’s stock.

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.