Neptune Insurance Holdings Inc. (NYSE:NP) Stock Has Consensus Price Target of $32.29 According to Analysts

Neptune Insurance Holdings Inc. (NYSE:NP) has been assigned an average rating of “Moderate Buy” from the thirteen research firms that are presently covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $32.29.

NP has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Neptune Insurance in a report on Wednesday, September 23rd. Keefe, Bruyette & Woods upped their price target on shares of Neptune Insurance from $32.00 to $33.00 and gave the company a “market perform” rating in a report on Wednesday, October 21st. Weiss Ratings raised shares of Neptune Insurance from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 23rd. JPMorgan Chase & Co. raised their price objective on shares of Neptune Insurance from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Finally, Wells Fargo & Company dropped their price objective on shares of Neptune Insurance from $37.00 to $34.00 and set an “overweight” rating on the stock in a report on Monday, October 12th.

Insider Buying and Selling at Neptune Insurance

In related news, CFO James Steiner sold 57,012 shares of Neptune Insurance stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $31.71, for a total value of $1,807,850.52. Following the sale, the chief financial officer owned 3,749,050 shares of the company’s stock, valued at approximately $118,882,375.50. The trade was a 1.50% decrease 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, 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 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 have sold a total of 546,006 shares of company stock valued at $16,003,269 over the last quarter. 74.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Neptune Insurance

A number of large investors have recently made changes to their positions in the company. Renaissance Technologies LLC lifted its holdings in shares of Neptune Insurance by 874.4% during the first quarter. Renaissance Technologies LLC now owns 160,703 shares of the company’s stock worth $3,887,000 after buying an additional 144,210 shares in the last quarter. Walleye Capital LLC boosted its position in shares of Neptune Insurance by 17.3% in the first quarter. Walleye Capital LLC now owns 135,364 shares of the company’s stock valued at $3,274,000 after acquiring an additional 20,000 shares during the period. Fifth Third Bancorp grew its stake in shares of Neptune Insurance by 30.2% in the third quarter. Fifth Third Bancorp now owns 82,615 shares of the company’s stock valued at $2,260,000 after acquiring an additional 19,165 shares in the last quarter. Sei Investments Co. grew its stake in shares of Neptune Insurance by 203.3% in the first quarter. Sei Investments Co. now owns 59,114 shares of the company’s stock valued at $1,430,000 after acquiring an additional 39,626 shares in the last quarter. Finally, BlueCrest Capital Management Ltd acquired a new position in shares of Neptune Insurance in the second quarter valued at about $1,418,000.

Neptune Insurance Stock Performance

Shares of NP opened at $27.87 on Friday. The business’s fifty day moving average price is $29.46 and its two-hundred day moving average price is $27.55. The firm has a market capitalization of $3.85 billion and a price-to-earnings ratio of 87.10. Neptune Insurance has a 52 week low of $14.78 and a 52 week high of $35.15.

Neptune Insurance (NYSE:NP) last released its earnings results on Tuesday, October 20th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. Neptune Insurance had a net margin of 22.71% and a negative return on equity of 26.63%. The company had revenue of $59.57 million for the quarter, compared to the consensus estimate of $56.59 million. As a group, research analysts forecast that Neptune Insurance will post 0.41 EPS for the current year.

About Neptune Insurance

Neptune Insurance is a technology-enabled provider of private flood insurance. Founded in 2016, the company uses data analytics and risk modeling to assess flood exposure and support policy underwriting and distribution.

Its products include flood coverage for residential and commercial properties, with options for protection of buildings and contents. Neptune distributes its policies through a network of insurance agents and serves customers across the United States.

Founder Trevor Burgess has served as the company’s chief executive officer.