Neptune Insurance (NYSE:NP) Sets New 12-Month High – Still a Buy?

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

Analyst Upgrades and Downgrades

NP has been the topic of several analyst reports. Keefe, Bruyette & Woods raised their price objective on Neptune Insurance from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Mizuho raised their price target on Neptune Insurance from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Monday, April 13th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Neptune Insurance in a research note on Monday, April 20th. Raymond James Financial reiterated an “outperform” rating on shares of Neptune Insurance in a report on Monday, April 27th. Finally, Morgan Stanley boosted their target price on shares of Neptune Insurance from $26.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, May 21st. Nine equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $28.25.

Neptune Insurance Trading Up 2.9%

The firm has a market capitalization of $4.76 billion and a price-to-earnings ratio of 127.31. The firm has a 50 day moving average price of $28.02 and a two-hundred day moving average price of $25.78.

Neptune Insurance (NYSE:NP) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $0.09 EPS for the quarter, meeting the consensus estimate of $0.09. The business had revenue of $37.80 million during the quarter, compared to analysts’ expectations of $36.96 million. The business’s revenue for the quarter was up 28.8% compared to the same quarter last year. As a group, research analysts forecast that Neptune Insurance Holdings Inc. will post 0.4 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Hold 101 Lp Bsiv sold 688,403 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $26.40, for a total value of $18,173,839.20. Following the completion of the sale, the insider owned 14,252,718 shares of the company’s stock, valued at $376,271,755.20. This represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Vii L.P. Ftv sold 787,806 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $26.40, for a total value of $20,798,078.40. Following the sale, the insider owned 16,310,781 shares in the company, valued at approximately $430,604,618.40. The trade was a 4.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 11,317,604 shares of company stock valued at $298,784,746. 74.26% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN acquired a new stake in Neptune Insurance during the 4th quarter valued at $28,000. PNC Financial Services Group Inc. acquired a new stake in shares of Neptune Insurance during the fourth quarter valued at about $125,000. FNY Investment Advisers LLC purchased a new stake in shares of Neptune Insurance during the third quarter worth about $171,000. Symmetry Investments LP acquired a new position in shares of Neptune Insurance in the fourth quarter worth about $204,000. Finally, FJ Capital Management LLC purchased a new position in Neptune Insurance in the fourth quarter valued at about $289,000.

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.