Neptune Insurance (NYSE:NP) Hits New 12-Month High – Here’s What Happened

Neptune Insurance Holdings Inc. (NYSE:NP)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $35.15 and last traded at $34.9690, with a volume of 1598269 shares trading hands. The stock had previously closed at $31.88.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NP. JPMorgan Chase & Co. raised their price target on shares of Neptune Insurance from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Morgan Stanley set a $31.00 price objective on Neptune Insurance in a report on Thursday, July 23rd. Piper Sandler increased their price objective on Neptune Insurance from $30.00 to $39.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods cut their target price on Neptune Insurance from $34.00 to $33.00 and set a “market perform” rating for the company in a research note on Friday, July 24th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Neptune Insurance in a research report on Friday, July 17th. Eight equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $30.61.

Neptune Insurance Stock Up 9.7%

The firm has a market capitalization of $4.84 billion and a price-to-earnings ratio of 139.88. The business’s 50-day simple moving average is $29.45 and its two-hundred day simple moving average is $26.06.

Neptune Insurance (NYSE:NP) last issued its quarterly earnings data on Tuesday, July 21st. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.14 by $0.01. The firm had revenue of $55.87 million for 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 18.77%. Sell-side analysts anticipate that Neptune Insurance Holdings Inc. will post 0.4 earnings per share for the current year.

Insider Buying and Selling

In other Neptune Insurance news, major shareholder Vii L.P. Ftv sold 787,806 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $26.40, for a total transaction of $20,798,078.40. Following the transaction, the insider directly owned 16,310,781 shares in the company, valued at $430,604,618.40. This represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Hold 101 Lp Bsiv sold 688,403 shares of the firm’s stock in a transaction on 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 transaction, the insider owned 14,252,718 shares of the company’s stock, valued at approximately $376,271,755.20. This represents a 4.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 11,317,604 shares of company stock worth $298,784,746. 74.26% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Neptune Insurance

Institutional investors have recently bought and sold shares of the company. Bregal Sagemount IV General Partner Jersey Ltd acquired a new stake in shares of Neptune Insurance during the fourth quarter worth about $569,509,000. T. Rowe Price Investment Management Inc. purchased a new stake in Neptune Insurance during the 4th quarter worth approximately $133,488,000. Vanguard Group Inc. purchased a new stake in Neptune Insurance during the 4th quarter worth approximately $47,063,000. Capital World Investors acquired a new stake in Neptune Insurance during the 4th quarter worth approximately $32,091,000. Finally, Balyasny Asset Management L.P. purchased a new position in Neptune Insurance in the 4th quarter valued at approximately $29,051,000.

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.