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

Neptune Insurance (NYSE:NP) posted its earnings results on Wednesday. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01, Zacks reports.

Neptune Insurance Price Performance

Shares of NP traded down $0.61 during mid-day trading on Wednesday, reaching $18.78. 469,926 shares of the company’s stock traded hands, compared to its average volume of 413,596. The stock’s 50-day moving average is $26.17 and its two-hundred day moving average is $27.71. Neptune Insurance has a 12 month low of $14.78 and a 12 month high of $33.23. The stock has a market cap of $2.59 billion and a P/E ratio of 170.73.

Analyst Ratings Changes

Several equities analysts have commented on NP shares. Morgan Stanley increased their price objective on shares of Neptune Insurance from $26.00 to $27.00 and gave the company an “equal weight” rating in a research report on Monday, November 17th. JPMorgan Chase & Co. initiated coverage on shares of Neptune Insurance in a report on Monday, October 27th. They issued a “neutral” rating and a $25.00 price target for the company. Evercore initiated coverage on Neptune Insurance in a research report on Monday, October 27th. They issued an “outperform” rating and a $35.00 price target for the company. Weiss Ratings began coverage on Neptune Insurance in a research report on Wednesday, December 24th. They set a “sell (d)” rating on the stock. Finally, Raymond James Financial reissued an “outperform” rating and set a $23.00 target price on shares of Neptune Insurance in a research report on Tuesday. Seven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $27.38.

Hedge Funds Weigh In On Neptune Insurance

Hedge funds have recently bought and sold shares of the business. Hound Partners LLC bought a new stake in shares of Neptune Insurance during the fourth quarter worth $1,473,000. Readystate Asset Management LP bought a new position in shares of Neptune Insurance in the fourth quarter worth about $1,448,000. Boston Partners purchased a new position in Neptune Insurance in the 4th quarter worth about $843,000. Fred Alger Management LLC bought a new stake in Neptune Insurance during the 4th quarter valued at about $628,000. Finally, Renaissance Technologies LLC bought a new stake in Neptune Insurance during the 4th quarter valued at about $481,000.

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.