Neptune Insurance (NYSE:NP) Releases Earnings Results, Beats Estimates By $0.01 EPS

Neptune Insurance (NYSE:NP) posted its quarterly earnings data on Tuesday. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01, FiscalAI reports. The business had revenue of $55.87 million during the quarter, compared to analyst estimates of $52.38 million. Neptune Insurance had a net margin of 21.45% and a negative return on equity of 17.37%.

Neptune Insurance Stock Performance

Shares of NYSE:NP opened at $30.02 on Thursday. The stock has a 50-day simple moving average of $29.03 and a 200-day simple moving average of $25.94. The stock has a market capitalization of $4.15 billion and a P/E ratio of 120.06. Neptune Insurance has a 1 year low of $14.78 and a 1 year high of $34.61.

Insider Buying and Selling

In other Neptune Insurance news, major shareholder Hold 101 Lp Bsiv sold 4,589,351 shares of the business’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 transaction of $121,158,866.40. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Vii L.P. Ftv sold 5,252,044 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $26.40, for a total transaction of $138,653,961.60. Following the completion of the transaction, the insider directly owned 17,098,587 shares in the company, valued at approximately $451,402,696.80. This represents a 23.50% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 11,317,604 shares of company stock worth $298,784,746. 74.26% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Neptune Insurance

Large investors have recently modified their holdings of the stock. Wells Fargo & Company MN acquired a new position in Neptune Insurance during the 4th quarter worth approximately $28,000. PNC Financial Services Group Inc. acquired a new stake in Neptune Insurance in the fourth quarter valued at approximately $125,000. Symmetry Investments LP purchased a new stake in shares of Neptune Insurance during the fourth quarter valued at approximately $204,000. Cohen & Steers Inc. purchased a new stake in shares of Neptune Insurance during the fourth quarter valued at approximately $292,000. Finally, Boothbay Fund Management LLC acquired a new position in shares of Neptune Insurance during the fourth quarter worth $294,000.

Analyst Ratings Changes

A number of research analysts have weighed in on NP shares. Piper Sandler increased their price target on Neptune Insurance from $30.00 to $39.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Weiss Ratings reiterated a “sell (d)” rating on shares of Neptune Insurance in a research report on Friday, July 17th. Evercore reiterated an “outperform” rating and set a $36.00 price objective on shares of Neptune Insurance in a report on Wednesday. Wells Fargo & Company began coverage on shares of Neptune Insurance in a report on Tuesday, June 30th. They issued an “overweight” rating and a $35.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $33.00 price target on shares of Neptune Insurance in a research report on Wednesday. Eight analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $30.39.

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.