Neptune Insurance (NYSE:NP) Sees Strong Trading Volume – Still a Buy?

Shares of Neptune Insurance Holdings Inc. (NYSE:NP) saw unusually-strong trading volume on Thursday . Approximately 1,275,988 shares traded hands during mid-day trading, an increase of 212% from the previous session’s volume of 409,243 shares.The stock last traded at $27.1560 and had previously closed at $27.94.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods boosted their price target on Neptune Insurance from $28.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Morgan Stanley dropped their price objective on Neptune Insurance from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 4th. Raymond James Financial reaffirmed an “outperform” rating on shares of Neptune Insurance in a research report on Monday, April 27th. Piper Sandler cut their price objective on shares of Neptune Insurance from $33.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. Finally, Mizuho increased their target price on Neptune Insurance from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Monday, April 13th. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Neptune Insurance currently has an average rating of “Moderate Buy” and an average price target of $27.42.

Neptune Insurance Trading Down 1.4%

The stock has a market capitalization of $3.81 billion and a PE ratio of 101.90. The business has a fifty day moving average price of $24.62 and a 200-day moving average price of $24.96.

Neptune Insurance (NYSE:NP) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. The company had revenue of $37.80 million during the quarter, compared to analysts’ expectations of $36.96 million. The firm’s quarterly revenue was up 28.8% on a year-over-year basis. On average, equities analysts anticipate that Neptune Insurance Holdings Inc. will post 0.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Trevor R. Burgess acquired 50,000 shares of the stock in a transaction on Friday, March 13th. The stock was acquired at an average price of $18.71 per share, for a total transaction of $935,500.00. Following the completion of the purchase, the chief executive officer owned 2,082,964 shares of the company’s stock, valued at $38,972,256.44. This represents a 2.46% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Warren Vostrizansky acquired 23,000 shares of the stock in a transaction on Friday, February 20th. The shares were bought at an average price of $21.50 per share, with a total value of $494,500.00. Following the purchase, the director directly owned 23,000 shares of the company’s stock, valued at $494,500. The trade was a ? increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 74.26% of the company’s stock.

Institutional Investors Weigh In On Neptune Insurance

Several institutional investors have recently modified their holdings of NP. Maltese Capital Management LLC bought a new position in shares of Neptune Insurance during the 3rd quarter valued at $3,200,000. Comerica Bank bought a new position in Neptune Insurance in the fourth quarter worth approximately $1,507,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Neptune Insurance in the 4th quarter worth $2,068,000. Massachusetts Financial Services Co. MA bought a new stake in Neptune Insurance during the 4th quarter worth approximately $759,000. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in Neptune Insurance during the 3rd quarter valued at approximately $792,000.

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.