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

Neptune Insurance (NYSE:NP) announced its quarterly earnings data on Tuesday. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.01, FiscalAI reports. Neptune Insurance had a negative return on equity of 18.77% and a net margin of 21.45%. The firm had revenue of $59.57 million during the quarter, compared to analysts’ expectations of $56.59 million.

Neptune Insurance Stock Up 0.8%

Shares of NP opened at $29.54 on Wednesday. The company has a market capitalization of $4.05 billion and a price-to-earnings ratio of 79.19. Neptune Insurance has a 52 week low of $14.78 and a 52 week high of $35.15. The stock’s 50-day moving average price is $30.48 and its 200-day moving average price is $29.36.

Wall Street Analysts Forecast Growth

NP has been the topic of several research reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Neptune Insurance in a report on Wednesday, September 23rd. Piper Sandler restated an “overweight” rating on shares of Neptune Insurance in a research note on Monday. JPMorgan Chase & Co. upped their price objective on shares of Neptune Insurance from $26.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Morgan Stanley raised shares of Neptune Insurance from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $31.00 to $36.00 in a report on Wednesday, August 19th. Finally, BMO Capital Markets lowered shares of Neptune Insurance from an “outperform” rating to a “market perform” rating and set a $32.00 price objective on the stock. in a research note on Thursday, July 30th. Eight equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.54.

Insider Activity at Neptune Insurance

In other Neptune Insurance news, Director Jonathan Carlon sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was 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 approximately $18,799,025. This represents a 7.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Matthew Duffy sold 84,441 shares of the company’s stock in a transaction that occurred on Thursday, October 8th. The stock was sold at an average price of $28.10, for a total value of $2,372,792.10. Following the completion of the sale, the insider owned 1,879,798 shares in the company, valued at approximately $52,822,323.80. This represents a 4.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 3,815,570 shares of company stock valued at $125,567,525 in the last 90 days. 74.26% of the stock is currently owned by corporate insiders.

About Neptune Insurance

Neptune Insurance is a technology-enabled insurance company focused primarily on flood coverage for residential and commercial policyholders. Its platform is designed to streamline the insurance process, including quoting, underwriting and policy management, while providing coverage tailored to properties that may face flood-related risks.

The company offers flood insurance products for homeowners, renters, landlords and businesses. Its offerings are intended to complement or provide an alternative to coverage available through traditional government and private-market flood insurance programs, depending on the policyholder’s location and eligibility.

Neptune’s business is primarily focused on the United States, where flood risk varies significantly by geography and many properties are outside federally designated high-risk areas.