Key Points
- Insider sale: Matthew Paul Duffy sold 39,737 Neptune Insurance shares for approximately $1.10 million at an average price of $27.67. The Rule 10b5-1 transaction reduced his holdings by 1.94%, leaving him with 2,005,631 shares.
- Quarterly performance: Neptune reported quarterly EPS of $0.15, exceeding analyst expectations of $0.14, while revenue of $55.87 million also surpassed estimates of $52.38 million.
- Analyst outlook: The stock has a consensus “Moderate Buy” rating from analysts, with an average price target of $31.82; recent targets range from $32 to $39.
Neptune Insurance Holdings Inc. (NYSE:NP - Get Free Report) insider Matthew Paul Duffy sold 39,737 shares of the stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $27.67, for a total value of $1,099,522.79. Following the completion of the sale, the insider owned 2,005,631 shares of the company's stock, valued at approximately $55,495,809.77. This trade represents a 1.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Neptune Insurance Stock Performance
NP opened at $27.14 on Tuesday. Neptune Insurance Holdings Inc. has a 52-week low of $14.78 and a 52-week high of $35.15. The stock has a market capitalization of $3.73 billion and a PE ratio of 108.58. The stock's 50 day moving average price is $31.23 and its 200-day moving average price is $28.92.
Neptune Insurance (NYSE:NP - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $0.15 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.01. The company had revenue of $55.87 million during the quarter, compared to analyst estimates of $52.38 million. Neptune Insurance had a negative return on equity of 18.77% and a net margin of 21.45%. Research analysts forecast that Neptune Insurance Holdings Inc. will post 0.4 EPS for the current fiscal year.
Hedge Funds Weigh In On Neptune Insurance
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its holdings in shares of Neptune Insurance by 73.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,440 shares of the company's stock valued at $180,000 after buying an additional 3,146 shares in the last quarter. FJ Capital Management LLC bought a new position in shares of Neptune Insurance in the 4th quarter worth about $289,000. AXQ Capital LP purchased a new position in Neptune Insurance during the 2nd quarter valued at about $296,000. Janus Henderson Group PLC purchased a new position in Neptune Insurance during the 1st quarter valued at about $313,000. Finally, Arizona State Retirement System bought a new stake in Neptune Insurance during the second quarter worth about $329,000.
Analyst Ratings Changes
Several research firms have recently commented on NP. Morgan Stanley raised shares of Neptune Insurance from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $31.00 to $36.00 in a research report on Wednesday, August 19th. Mizuho boosted their price target on shares of Neptune Insurance from $29.00 to $32.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. Piper Sandler increased their price target on shares of Neptune Insurance from $30.00 to $39.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th. Keefe, Bruyette & Woods lowered 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. Finally, Evercore reaffirmed an "outperform" rating and set a $36.00 price objective on shares of Neptune Insurance in a research report on Wednesday, July 22nd. Eight analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Neptune Insurance currently has a consensus rating of "Moderate Buy" and an average price target of $31.82.
Check Out Our Latest Stock Report on Neptune Insurance
About Neptune Insurance
(
Get Free Report)
Neptune Insurance is a technology-enabled insurance company focused on providing flood insurance coverage for residential and commercial property owners. Its offerings are designed to complement or supplement coverage available through the National Flood Insurance Program and traditional homeowners' insurance policies, which generally provide limited protection against flood damage.
The company distributes its policies through insurance agents and brokers, using a digital platform intended to streamline quoting, underwriting, policy management and claims handling.
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