Neptune Insurance (NYSE:NP) Hits New 1-Year High – Here’s Why

Shares of Neptune Insurance Holdings Inc. (NYSE:NP) reached a new 52-week high during trading on Wednesday . The stock traded as high as $33.81 and last traded at $33.6050, with a volume of 202531 shares traded. The stock had previously closed at $31.50.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Raymond James Financial reiterated an “outperform” rating on shares of Neptune Insurance in a research report on Monday, April 27th. Weiss Ratings reiterated a “sell (d)” rating on shares of Neptune Insurance in a report on Monday, April 20th. Bank of America upped their price objective on shares of Neptune Insurance from $23.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, April 14th. Evercore reiterated an “outperform” rating on shares of Neptune Insurance in a report on Friday, May 8th. Finally, Morgan Stanley lifted their price target on shares of Neptune Insurance from $26.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. Nine investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $28.25.

Neptune Insurance Trading Up 7.5%

The company has a market capitalization of $4.68 billion and a price-to-earnings ratio of 125.39. The company’s 50 day simple moving average is $27.58 and its 200-day simple moving average is $25.62.

Neptune Insurance (NYSE:NP) last announced its earnings results on Wednesday, April 22nd. The company reported $0.09 earnings per share for the quarter, meeting the consensus estimate 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 was up 28.8% compared to the same quarter last year. Sell-side analysts anticipate 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 787,806 shares of the stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $26.40, for a total transaction of $20,798,078.40. Following the transaction, the insider 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Hold 101 Lp Bsiv sold 688,403 shares of the business’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $26.40, for a total value of $18,173,839.20. Following the completion of the sale, the insider directly owned 14,252,718 shares of the company’s stock, valued at approximately $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. Insiders have sold 11,317,604 shares of company stock valued at $298,784,746 in the last three months. Corporate insiders own 74.26% of the company’s stock.

Institutional Trading of Neptune Insurance

Several institutional investors have recently added to or reduced their stakes in the business. Bregal Sagemount IV General Partner Jersey Ltd bought a new stake in shares of Neptune Insurance during the 4th quarter valued at about $569,509,000. T. Rowe Price Investment Management Inc. bought a new stake in shares of Neptune Insurance in the fourth quarter valued at about $133,488,000. Vanguard Group Inc. bought a new position in Neptune Insurance during the fourth quarter valued at about $47,063,000. Capital World Investors acquired a new position in Neptune Insurance in the 4th quarter valued at approximately $32,091,000. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Neptune Insurance during the 4th quarter worth approximately $29,051,000.

About Neptune Insurance

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.