Neptune Insurance Holdings Inc. (NYSE:NP) Stock Rated “Moderate Buy” by Wall Street Analysts

Shares of Neptune Insurance Holdings Inc. (NYSE:NP) have received a consensus rating of “Moderate Buy” from the thirteen ratings firms that are covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $32.29.

NP has been the subject of a number of research analyst reports. BMO Capital Markets lowered Neptune Insurance from an “outperform” rating to a “market perform” rating and set a $32.00 target price for the company. in a research report on Thursday, July 30th. Evercore reissued an “outperform” rating and set a $36.00 price target on shares of Neptune Insurance in a research report on Wednesday, July 22nd. Morgan Stanley cut their price target on Neptune Insurance from $36.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, October 22nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Neptune Insurance in a report on Wednesday, September 23rd. Finally, Wells Fargo & Company lowered their price objective on shares of Neptune Insurance from $37.00 to $34.00 and set an “overweight” rating for the company in a research note on Monday, October 12th.

Insider Activity

In other news, insider Matthew Duffy sold 84,441 shares of the stock in a transaction that occurred on Thursday, October 8th. The shares were sold at an average price of $28.10, for a total transaction of $2,372,792.10. Following the transaction, the insider directly owned 1,879,798 shares in the company, valued at approximately $52,822,323.80. This trade represents a 4.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Trevor R. Burgess sold 4,431 shares of Neptune Insurance stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $27.63, for a total transaction of $122,428.53. Following the transaction, the chief executive officer directly owned 1,902,520 shares in the company, valued at approximately $52,566,627.60. The trade was a 0.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 678,734 shares of company stock valued at $19,538,129. Company insiders own 74.26% of the company’s stock.

Institutional Investors Weigh In On Neptune Insurance

Institutional investors have recently added to or reduced their stakes in the stock. Public Sector Pension Investment Board bought a new position in shares of Neptune Insurance during the 3rd quarter worth approximately $6,017,000. Fifth Third Bancorp grew its holdings in Neptune Insurance by 30.2% in the third quarter. Fifth Third Bancorp now owns 82,615 shares of the company’s stock worth $2,260,000 after purchasing an additional 19,165 shares during the last quarter. State of Wyoming grew its holdings in Neptune Insurance by 80.7% in the third quarter. State of Wyoming now owns 5,026 shares of the company’s stock worth $137,000 after purchasing an additional 2,244 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Neptune Insurance by 41.1% during the third quarter. Nisa Investment Advisors LLC now owns 1,727 shares of the company’s stock worth $47,000 after purchasing an additional 503 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in shares of Neptune Insurance during the third quarter worth $105,000.

Neptune Insurance Trading Up 0.2%

Shares of NP opened at $28.22 on Friday. The company’s fifty day simple moving average is $29.24 and its 200-day simple moving average is $27.58. The company has a market cap of $3.90 billion and a P/E ratio of 88.20. Neptune Insurance has a twelve month low of $14.78 and a twelve month high of $35.15.

Neptune Insurance (NYSE:NP) last released its earnings results on Tuesday, October 20th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. Neptune Insurance had a negative return on equity of 26.63% and a net margin of 22.71%. The business had revenue of $59.57 million for the quarter, compared to analyst estimates of $56.59 million. Analysts predict that Neptune Insurance will post 0.41 earnings per share for the current fiscal year.

About Neptune Insurance

Neptune Insurance is a technology-enabled provider of private flood insurance. Founded in 2016, the company uses data analytics and risk modeling to assess flood exposure and support policy underwriting and distribution. Its products include flood coverage for residential and commercial properties, with options for protection of buildings and contents. Neptune distributes its policies through a network of insurance agents and serves customers across the United States. Founder Trevor Burgess has served as the company’s chief executive officer.