Neptune Insurance Holdings Inc. (NYSE:NP) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Analysts have a consensus “Hold” rating on Neptune Insurance, with eight buys, six holds, and one sell among 15 firms. The average 12-month price target is $30.61, below the stock’s reported opening price of $31.85.
• Recent broker updates were generally positive, with Piper Sandler raising its target to $39, Wells Fargo to $37, Deutsche Bank maintaining a $33 buy target, and JPMorgan and Mizuho assigning neutral ratings with targets of $30 and $32.
• Neptune exceeded quarterly expectations, reporting $0.15 in EPS versus $0.14 expected and revenue of $55.87 million versus $52.38 million forecast. However, insiders sold 11.3 million shares worth approximately $298.8 million in the last quarter, while insiders still own 74.26% of the company.

Neptune Insurance Holdings Inc. (NYSE:NP - Get Free Report) has received an average recommendation of "Hold" from the fifteen research firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $30.6071.

Several research firms have recently weighed in on NP. Piper Sandler boosted their target price on Neptune Insurance from $30.00 to $39.00 and gave the company an "overweight" rating in a report on Wednesday, July 15th. JPMorgan Chase & Co. raised their price target on Neptune Insurance from $26.00 to $30.00 and gave the stock a "neutral" rating in a research note on Monday, July 13th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $33.00 target price on shares of Neptune Insurance in a report on Wednesday, July 22nd. Wells Fargo & Company upped their price target on shares of Neptune Insurance from $35.00 to $37.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Finally, Mizuho increased their price target on shares of Neptune Insurance from $29.00 to $32.00 and gave the stock a "neutral" rating in a research note on Thursday, July 9th.

Neptune Insurance Price Performance

Shares of NYSE:NP opened at $31.85 on Wednesday. Neptune Insurance has a 12 month low of $14.78 and a 12 month high of $34.61. The firm has a market capitalization of $4.41 billion and a P/E ratio of 127.39. The company's fifty day moving average price is $29.30 and its 200 day moving average price is $26.01.

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

Insider Activity

In other news, major shareholder Hold 101 Lp Bsiv sold 688,403 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 $18,173,839.20. Following the completion of the sale, the insider owned 14,252,718 shares in the company, valued at approximately $376,271,755.20. This represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Vii L.P. Ftv sold 787,806 shares of the firm's stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $26.40, for a total value of $20,798,078.40. Following the transaction, the insider directly owned 16,310,781 shares in the company, valued at approximately $430,604,618.40. This represents a 4.61% decrease in their position. 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 quarter. Insiders own 74.26% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of NP. Comerica Bank purchased a new position in Neptune Insurance during the 4th quarter worth $1,507,000. Vanguard Group Inc. acquired a new stake in shares of Neptune Insurance in the 4th quarter worth $47,063,000. Bregal Sagemount IV General Partner Jersey Ltd purchased a new stake in shares of Neptune Insurance in the fourth quarter valued at about $569,509,000. Capital World Investors acquired a new position in shares of Neptune Insurance during the fourth quarter worth about $32,091,000. Finally, Azora Capital LP acquired a new position in shares of Neptune Insurance during the fourth quarter worth about $21,695,000.

Neptune Insurance Company Profile

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.

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