Neptune Insurance (NYSE:NP) Stock Price Down 5.1% – Should You Sell?

Neptune Insurance Holdings Inc. (NYSE:NP) fell 5.1% during trading on Tuesday . The stock traded as low as $27.21 and last traded at $27.17. Approximately 90,623 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 590,642 shares. The stock had previously closed at $28.63.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Weiss Ratings upgraded shares of Neptune Insurance from a “sell (d)” rating to a “hold (c)” rating in a research report on Friday, July 31st. Keefe, Bruyette & Woods lowered their price target on Neptune Insurance from $34.00 to $33.00 and set a “market perform” rating on the stock in a report on Friday, July 24th. BMO Capital Markets cut Neptune Insurance from an “outperform” rating to a “market perform” rating and set a $32.00 price objective for the company. in a report on Thursday, July 30th. Morgan Stanley raised Neptune Insurance from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $31.00 to $36.00 in a report on Wednesday, August 19th. Finally, Evercore reaffirmed an “outperform” rating and set a $36.00 price target on shares of Neptune Insurance in a research note on Wednesday, July 22nd. Eight research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $31.82.

Neptune Insurance Stock Up 0.2%

The firm’s 50 day moving average is $31.74 and its 200-day moving average is $28.53. The firm has a market cap of $3.79 billion and a PE ratio of 110.44.

Neptune Insurance (NYSE:NP) last released its earnings results on Tuesday, July 21st. The company reported $0.15 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $55.87 million during the quarter, compared to analysts’ expectations of $52.38 million. On average, analysts forecast that Neptune Insurance Holdings Inc. will post 0.4 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Jonathan Carlon sold 50,000 shares of the 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 directly owned 603,500 shares in the company, valued at approximately $18,799,025. This represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO James Steiner sold 57,012 shares of Neptune Insurance stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $31.71, for a total value of $1,807,850.52. Following the completion of the sale, the chief financial officer owned 3,749,050 shares of the company’s stock, valued at $118,882,375.50. This trade represents a 1.50% decrease in their position. The SEC filing for this sale provides additional information. 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 company insiders.

Hedge Funds Weigh In On Neptune Insurance

A number of hedge funds have recently made changes to their positions in NP. PNC Financial Services Group Inc. raised its position in shares of Neptune Insurance by 73.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,440 shares of the company’s stock worth $180,000 after buying an additional 3,146 shares during the period. FJ Capital Management LLC purchased a new position in shares of Neptune Insurance in the 4th quarter worth about $289,000. BIT Capital GmbH acquired a new position in shares of Neptune Insurance in the 4th quarter valued at about $292,000. AXQ Capital LP purchased a new stake in shares of Neptune Insurance during the 2nd quarter worth about $296,000. Finally, Janus Henderson Group PLC acquired a new stake in Neptune Insurance during the 1st quarter worth approximately $313,000.

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.