Brokerages Set Neptune Insurance Holdings Inc. (NYSE:NP) PT at $31.82

Neptune Insurance Holdings Inc. (NYSE:NP) has been given an average recommendation of “Moderate Buy” by the fifteen brokerages that are presently covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $31.8214.

NP has been the topic of several research reports. Mizuho increased their price objective on shares of Neptune Insurance from $29.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. upped their target price on Neptune Insurance from $26.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $33.00 price target on shares of Neptune Insurance in a research report on Wednesday, July 22nd. Piper Sandler raised their price target on Neptune Insurance from $30.00 to $39.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods reduced their price objective on Neptune Insurance from $34.00 to $33.00 and set a “market perform” rating for the company in a research report on Friday, July 24th.

Insider Buying and Selling

In other news, CFO James Steiner sold 57,012 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $31.71, for a total transaction of $1,807,850.52. Following the completion of the transaction, the chief financial officer owned 3,749,050 shares of the company’s stock, valued at approximately $118,882,375.50. The trade was a 1.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jonathan Carlon sold 50,000 shares of the company’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $31.15, for a total transaction of $1,557,500.00. Following the transaction, the director owned 603,500 shares of the company’s stock, valued at $18,799,025. This represents a 7.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 3,650,000 shares of company stock valued at $120,971,418. 74.26% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Neptune Insurance

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sei Investments Co. increased its holdings in shares of Neptune Insurance by 203.3% during the first quarter. Sei Investments Co. now owns 59,114 shares of the company’s stock valued at $1,430,000 after purchasing an additional 39,626 shares during the period. Renaissance Technologies LLC lifted its holdings in Neptune Insurance by 874.4% in the first quarter. Renaissance Technologies LLC now owns 160,703 shares of the company’s stock worth $3,887,000 after purchasing an additional 144,210 shares during the period. BlueCrest Capital Management Ltd bought a new position in Neptune Insurance in the 2nd quarter valued at about $1,418,000. Azora Capital LP acquired a new position in Neptune Insurance during the 4th quarter valued at about $21,695,000. Finally, Bregal Sagemount IV General Partner Jersey Ltd bought a new stake in shares of Neptune Insurance during the 4th quarter worth about $569,509,000.

Neptune Insurance Price Performance

Neptune Insurance stock opened at $29.76 on Thursday. Neptune Insurance has a 12 month low of $14.78 and a 12 month high of $35.15. The company has a fifty day moving average price of $31.96 and a two-hundred day moving average price of $28.34. The company has a market cap of $4.08 billion and a PE ratio of 119.02.

Neptune Insurance (NYSE:NP) last issued its earnings results on Tuesday, July 21st. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. Neptune Insurance had a net margin of 21.45% and a negative return on equity of 18.77%. The company had revenue of $55.87 million for the quarter, compared to analysts’ expectations of $52.38 million. Equities research analysts anticipate that Neptune Insurance will post 0.4 earnings per share for the current year.

Neptune Insurance Company Profile

Neptune Insurance, commonly known as Neptune Flood, is a U.S.-focused insurtech company specializing in private flood insurance. Its products are designed to provide alternatives to coverage available through the National Flood Insurance Program and may cover residential properties, personal belongings, additional living expenses and certain commercial properties, subject to policy terms and availability.

The company distributes its insurance through independent agents and uses technology to support quoting, underwriting and policy administration.