Neptune Insurance (NYSE:NP) Shares Down 7.1% – What’s Next?

Shares of Neptune Insurance Holdings Inc. (NYSE:NP) fell 7.1% during mid-day trading on Wednesday . The stock traded as low as $31.40 and last traded at $31.40. Approximately 199,941 shares traded hands during trading, a decline of 67% from the average daily volume of 605,971 shares. The stock had previously closed at $33.79.

Analyst Ratings Changes

Several equities research analysts recently commented on NP shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $34.00 price objective (up from $32.00) on shares of Neptune Insurance in a research report on Wednesday. Weiss Ratings reissued a “sell (d)” rating on shares of Neptune Insurance in a research note on Monday, April 20th. Raymond James Financial reaffirmed an “outperform” rating on shares of Neptune Insurance in a research report on Monday, April 27th. Evercore reiterated an “outperform” rating on shares of Neptune Insurance in a report on Friday, May 8th. Finally, Morgan Stanley boosted their target price on Neptune Insurance from $26.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, May 21st. Eight research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $28.39.

Neptune Insurance Price Performance

The business’s 50-day moving average is $28.16 and its two-hundred day moving average is $25.82. The firm has a market cap of $4.36 billion and a P/E ratio of 116.70.

Neptune Insurance (NYSE:NP) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. The business had revenue of $37.80 million for the quarter, compared to analyst estimates of $36.96 million. The business’s revenue for the quarter was up 28.8% on a year-over-year basis. Equities research analysts predict that Neptune Insurance Holdings Inc. will post 0.4 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Vii L.P. Ftv sold 5,252,044 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $26.40, for a total value of $138,653,961.60. Following the completion of the sale, the insider owned 17,098,587 shares of the company’s stock, valued at approximately $451,402,696.80. This represents a 23.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Hold 101 Lp Bsiv sold 4,589,351 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $26.40, for a total transaction of $121,158,866.40. Following the completion of the transaction, the insider directly owned 14,941,121 shares of the company’s stock, valued at $394,445,594.40. This represents a 23.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 11,317,604 shares of company stock valued at $298,784,746. Corporate insiders own 74.26% of the company’s stock.

Institutional Trading of Neptune Insurance

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