Neptune Insurance Holdings Inc. (NYSE:NP) Receives Average Recommendation of “Hold” from Brokerages

Shares of Neptune Insurance Holdings Inc. (NYSE:NP) have earned an average recommendation of “Hold” from the fifteen research firms that are currently covering the firm, MarketBeat.com reports. Eight research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $31.4643.

A number of equities research analysts recently weighed in on NP shares. Raymond James Financial restated an “outperform” rating on shares of Neptune Insurance in a research note on Monday, April 27th. JPMorgan Chase & Co. boosted their target price 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. Wells Fargo & Company increased their price target on shares of Neptune Insurance from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Piper Sandler raised their price target on shares of Neptune Insurance from $30.00 to $39.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Neptune Insurance from $34.00 to $33.00 and set a “market perform” rating on the stock in a research report on Friday, July 24th.

Neptune Insurance Stock Up 0.6%

Shares of NYSE:NP opened at $31.84 on Wednesday. The firm has a 50 day moving average of $29.75 and a 200 day moving average of $26.22. The company has a market capitalization of $4.37 billion and a price-to-earnings ratio of 127.34. Neptune Insurance has a 52 week low of $14.78 and a 52 week high of $35.15.

Neptune Insurance (NYSE:NP) last announced its earnings results on Tuesday, July 21st. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.01. Neptune Insurance had a negative return on equity of 18.77% and a net margin of 21.45%.The business had revenue of $55.87 million for the quarter, compared to analysts’ expectations of $52.38 million. On average, sell-side analysts expect that Neptune Insurance will post 0.4 EPS for the current year.

Insider Activity at Neptune Insurance

In other news, major shareholder Hold 101 Lp Bsiv sold 1,632,160 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $33.22, for a total transaction of $54,220,355.20. Following the completion of the sale, the insider owned 12,620,558 shares in the company, valued at approximately $419,254,936.76. This represents a 11.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Vii L.P. Ftv sold 1,867,840 shares of the firm’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $33.22, for a total value of $62,049,644.80. Following the completion of the sale, the insider directly owned 14,442,941 shares of the company’s stock, valued at $479,794,500.02. The trade was a 11.45% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 14,817,604 shares of company stock valued at $415,054,746. 74.26% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Bregal Sagemount IV General Partner Jersey Ltd acquired a new stake in Neptune Insurance in the fourth quarter worth about $569,509,000. T. Rowe Price Investment Management Inc. acquired a new position in shares of Neptune Insurance during the fourth quarter valued at about $133,488,000. Vanguard Group Inc. acquired a new position in shares of Neptune Insurance during the fourth quarter valued at about $47,063,000. Capital World Investors purchased a new position in shares of Neptune Insurance in the 4th quarter valued at approximately $32,091,000. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Neptune Insurance in the 4th quarter valued at approximately $29,051,000.

About Neptune Insurance

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.