Neptune Insurance Holdings Inc. (NYSE:NP) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Neptune Insurance Holdings Inc. (NYSE:NP) has been given an average rating of “Moderate Buy” by the fifteen ratings firms that are covering the stock, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $31.54.

NP has been the subject of a number of research reports. Morgan Stanley raised shares of Neptune Insurance from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $31.00 to $36.00 in a research note on Wednesday, August 19th. Keefe, Bruyette & Woods cut their price objective on 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. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Neptune Insurance in a research report on Wednesday, September 23rd. JPMorgan Chase & Co. upped their target price on Neptune Insurance from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Finally, 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.

Insider Buying and Selling

In related news, major shareholder Hold 101 Lp Bsiv sold 1,632,160 shares of Neptune Insurance stock in a transaction that occurred 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 sale, the insider directly owned 12,620,558 shares in the company, valued at $419,254,936.76. The trade was a 11.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jonathan Carlon sold 50,000 shares of Neptune Insurance stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $31.15, for a total value of $1,557,500.00. Following the sale, the director owned 603,500 shares in the company, valued at $18,799,025. This represents a 7.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,815,570 shares of company stock worth $125,567,525 over the last quarter. Company insiders own 74.26% of the company’s stock.

Hedge Funds Weigh In On Neptune Insurance

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bregal Sagemount IV General Partner Jersey Ltd purchased a new stake in shares of Neptune Insurance in the 4th quarter worth about $569,509,000. Azora Capital LP bought a new position in shares of Neptune Insurance in the 4th quarter worth about $21,695,000. Renaissance Technologies LLC lifted its position in Neptune Insurance by 874.4% during the 1st quarter. Renaissance Technologies LLC now owns 160,703 shares of the company’s stock valued at $3,887,000 after acquiring an additional 144,210 shares during the period. Manchester Global Management UK Ltd purchased a new position in Neptune Insurance during the 4th quarter valued at about $1,901,000. Finally, Fifth Third Bancorp bought a new stake in Neptune Insurance during the first quarter worth about $1,531,000.

Neptune Insurance Trading Down 0.3%

Shares of NYSE NP opened at $29.27 on Monday. The firm has a fifty day simple moving average of $30.55 and a two-hundred day simple moving average of $29.29. Neptune Insurance has a 12 month low of $14.78 and a 12 month high of $35.15. The firm has a market capitalization of $4.02 billion and a PE ratio of 117.06.

Neptune Insurance (NYSE:NP) last announced its earnings results on Tuesday, July 21st. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates 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%. On average, sell-side analysts predict that Neptune Insurance will post 0.40 earnings per share for the current year.

About Neptune Insurance

Neptune Insurance is a technology-enabled insurance company focused on providing flood insurance coverage for residential and commercial property owners. Its offerings are designed to complement or supplement coverage available through the National Flood Insurance Program and traditional homeowners’ insurance policies, which generally provide limited protection against flood damage.

The company distributes its policies through insurance agents and brokers, using a digital platform intended to streamline quoting, underwriting, policy management and claims handling.