Key Points
- Neptune Insurance director Jonathan Carlon sold 50,000 shares at an average price of $31.15, generating approximately $1.56 million. His remaining direct ownership fell 7.65% to 603,500 shares.
- Neptune reported quarterly EPS of $0.15, slightly exceeding estimates, while revenue of $55.87 million also surpassed expectations. Analysts forecast full-year EPS of $0.40.
- Wall Street maintains a generally favorable view, with a consensus rating of “Moderate Buy” and an average price target of $31.82; shares recently traded near $30.79.
Neptune Insurance Holdings Inc. (NYSE:NP - Get Free Report) Director Jonathan Carlon sold 50,000 shares of the company's stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $31.15, for a total transaction of $1,557,500.00. Following the completion of the transaction, the director directly owned 603,500 shares of the company's stock, valued at approximately $18,799,025. The trade was a 7.65% 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.
Neptune Insurance Stock Performance
Shares of NYSE NP opened at $30.79 on Wednesday. Neptune Insurance Holdings Inc. has a 1 year low of $14.78 and a 1 year high of $35.15. The firm has a market cap of $4.23 billion and a price-to-earnings ratio of 123.17. The stock's 50-day simple moving average is $32.06 and its 200-day simple moving average is $28.20.
Neptune Insurance (NYSE:NP - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $0.15 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.01. The firm had revenue of $55.87 million during the quarter, compared to the consensus estimate of $52.38 million. Neptune Insurance had a negative return on equity of 18.77% and a net margin of 21.45%. As a group, research analysts predict that Neptune Insurance Holdings Inc. will post 0.4 EPS for the current year.
Hedge Funds Weigh In On Neptune Insurance
Hedge funds and other institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. grew its holdings in shares of Neptune Insurance by 73.3% during the first quarter. PNC Financial Services Group Inc. now owns 7,440 shares of the company's stock valued at $180,000 after purchasing an additional 3,146 shares during the last quarter. FJ Capital Management LLC bought a new stake in shares of Neptune Insurance in the 4th quarter worth approximately $289,000. BIT Capital GmbH acquired a new position in Neptune Insurance during the 4th quarter valued at approximately $292,000. AXQ Capital LP bought a new position in Neptune Insurance during the 2nd quarter worth $296,000. Finally, Janus Henderson Group PLC bought a new position in Neptune Insurance during the 1st quarter worth $313,000.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on NP shares. Morgan Stanley upgraded Neptune Insurance from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $31.00 to $36.00 in a research note on Wednesday, August 19th. Weiss Ratings upgraded shares of Neptune Insurance from a "sell (d)" rating to a "hold (c)" rating in a research note on Friday, July 31st. Evercore reaffirmed an "outperform" rating and issued a $36.00 price target on shares of Neptune Insurance in a report on Wednesday, July 22nd. Mizuho increased their price objective on shares of Neptune Insurance from $29.00 to $32.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Neptune Insurance from $34.00 to $33.00 and set a "market perform" rating for the company in a report on Friday, July 24th. Eight analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $31.82.
Check Out Our Latest Analysis on Neptune Insurance
About Neptune Insurance
(
Get Free Report)
Neptune Insurance, commonly known as Neptune Flood, is a U.S.-focused insurtech company specializing in private flood insurance. Its products are designed to provide alternatives to coverage available through the National Flood Insurance Program and may cover residential properties, personal belongings, additional living expenses and certain commercial properties, subject to policy terms and availability.
The company distributes its insurance through independent agents and uses technology to support quoting, underwriting and policy administration.
Further Reading
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