Neptune Insurance (NYSE:NP) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Neptune Insurance (NYSE:NP) released its earnings results on Tuesday. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.14 by $0.01, FiscalAI reports. The business had revenue of $55.87 million for the quarter, compared to analyst estimates of $52.39 million.

Neptune Insurance Price Performance

Shares of NYSE:NP traded down $1.38 during trading on Tuesday, reaching $30.21. 727,568 shares of the stock were exchanged, compared to its average volume of 600,268. Neptune Insurance has a 1-year low of $14.78 and a 1-year high of $34.61. The stock has a fifty day moving average of $28.96 and a two-hundred day moving average of $25.93. The firm has a market cap of $4.18 billion and a price-to-earnings ratio of 111.88.

Insider Buying and Selling at Neptune Insurance

In other Neptune Insurance news, major shareholder Vii L.P. Ftv sold 787,806 shares of the firm’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $26.40, for a total value of $20,798,078.40. Following the transaction, the insider directly owned 16,310,781 shares of the company’s stock, valued at approximately $430,604,618.40. This trade represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Hold 101 Lp Bsiv sold 688,403 shares of Neptune Insurance stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $26.40, for a total transaction of $18,173,839.20. Following the transaction, the insider owned 14,252,718 shares of the company’s stock, valued at $376,271,755.20. This represents a 4.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 11,317,604 shares of company stock valued at $298,784,746. 74.26% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Neptune Insurance

Several large investors have recently added to or reduced their stakes in the business. Readystate Asset Management LP bought a new stake in Neptune Insurance during the fourth quarter worth $1,448,000. Hound Partners LLC bought a new position in Neptune Insurance during the 4th quarter valued at $1,473,000. Fred Alger Management LLC purchased a new position in Neptune Insurance during the 4th quarter worth $628,000. State Street Corp purchased a new position in Neptune Insurance during the 4th quarter worth $1,753,000. Finally, Boston Partners bought a new stake in shares of Neptune Insurance in the 4th quarter worth $843,000.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NP. Morgan Stanley increased their price target on Neptune Insurance from $26.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, May 21st. Bank of America boosted their target price on shares of Neptune Insurance from $23.00 to $26.00 and gave the company a “neutral” rating in a research report on Tuesday, April 14th. JPMorgan Chase & Co. increased their target price on shares of Neptune Insurance from $26.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Raymond James Financial reiterated an “outperform” rating on shares of Neptune Insurance in a report on Monday, April 27th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $34.00 price objective (up from $32.00) on shares of Neptune Insurance in a research report on Wednesday, July 8th. Eight equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $29.82.

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.