Neptune Insurance Holdings Inc. (NYSE:NP) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Neptune Insurance, with eight buy ratings and seven hold ratings. The average 12-month price target is $31.82, while recent targets range from $33 to $39.
• Neptune’s latest quarterly results exceeded expectations, with EPS of $0.15 versus the $0.14 consensus and revenue of $55.87 million versus estimates of $52.38 million.
• Insiders have sold significant amounts of stock, including 3.65 million shares worth approximately $121 million over the past 90 days, although insiders still own 74.26% of the company. NP recently traded at $30.58, down 0.4%.

Neptune Insurance Holdings Inc. (NYSE:NP - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the fifteen brokerages that are covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $31.8214.

Several brokerages have recently weighed in on NP. Morgan Stanley upgraded Neptune Insurance from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $31.00 to $36.00 in a report on Wednesday, August 19th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $33.00 price objective on shares of Neptune Insurance in a research report on Wednesday, July 22nd. Piper Sandler increased their target price on Neptune Insurance from $30.00 to $39.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th. Evercore reiterated an "outperform" rating and set a $36.00 target price on shares of Neptune Insurance in a research report on Wednesday, July 22nd. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Neptune Insurance from $34.00 to $33.00 and set a "market perform" rating for the company in a research note on Friday, July 24th.

Insider Activity at Neptune Insurance

In other Neptune Insurance news, Director Jonathan Carlon sold 50,000 shares of the business's stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $31.15, for a total value of $1,557,500.00. Following the completion of the sale, the director directly owned 603,500 shares of the company's stock, valued at $18,799,025. The trade was a 7.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Vii L.P. Ftv sold 1,867,840 shares of the company's stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $33.22, for a total transaction of $62,049,644.80. Following the completion of the transaction, the insider owned 14,442,941 shares in the company, valued at $479,794,500.02. This represents a 11.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 3,650,000 shares of company stock worth $120,971,418. Corporate insiders own 74.26% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NP. PNC Financial Services Group Inc. lifted its holdings in shares of Neptune Insurance by 73.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,440 shares of the company's stock worth $180,000 after buying an additional 3,146 shares during the period. AXQ Capital LP purchased a new position in shares of Neptune Insurance during the second quarter valued at $296,000. FJ Capital Management LLC bought a new stake in shares of Neptune Insurance in the fourth quarter valued at about $289,000. BIT Capital GmbH bought a new stake in shares of Neptune Insurance in the fourth quarter valued at about $292,000. Finally, Arizona State Retirement System purchased a new stake in Neptune Insurance in the second quarter worth about $329,000.

Neptune Insurance Trading Down 0.4%

NP stock opened at $30.58 on Thursday. The stock has a market cap of $4.20 billion and a PE ratio of 122.33. Neptune Insurance has a 12 month low of $14.78 and a 12 month high of $35.15. The company has a 50-day moving average price of $32.04 and a 200 day moving average price of $28.26.

Neptune Insurance (NYSE:NP - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The company reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.01. Neptune Insurance had a net margin of 21.45% and a negative return on equity of 18.77%. The company had revenue of $55.87 million for the quarter, compared to analyst estimates of $52.38 million. Sell-side analysts forecast that Neptune Insurance will post 0.4 EPS for the current year.

About Neptune Insurance

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.

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