Neptune Insurance (NP) to Post Quarterly Earnings on Tuesday

Key Points

• Neptune Insurance is scheduled to report quarterly earnings before the market opens on Tuesday, July 21, with analysts expecting $0.14 per share on $52.46 million in revenue.
• The company’s last quarter came in roughly in line with expectations, posting $0.09 EPS and $37.8 million in revenue, with sales rising 28.8% year over year.
• Wall Street sentiment is mixed: Neptune Insurance has a consensus Hold rating and an average price target of $29.18, while insiders have sold shares recently and ownership remains high at 74.26%.

Neptune Insurance (NYSE:NP - Get Free Report) is expected to issue its results before the market opens on Tuesday, July 21st. Analysts expect Neptune Insurance to post earnings of $0.14 per share and revenue of $52.4570 million for the quarter.

Neptune Insurance (NYSE:NP - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The company reported $0.09 earnings per share for the quarter, hitting analysts' consensus estimates of $0.09. The business had revenue of $37.80 million for the quarter, compared to analyst estimates of $36.96 million. Neptune Insurance's revenue was up 28.8% on a year-over-year basis. On average, analysts expect Neptune Insurance to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Neptune Insurance Price Performance

Shares of Neptune Insurance stock opened at $32.23 on Tuesday. The business has a fifty day simple moving average of $28.64 and a two-hundred day simple moving average of $25.89. Neptune Insurance has a 1 year low of $14.78 and a 1 year high of $34.61. The company has a market capitalization of $4.46 billion and a price-to-earnings ratio of 119.38.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NP. Morgan Stanley increased their price objective 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. Raymond James Financial reaffirmed an "outperform" rating on shares of Neptune Insurance in a report on Monday, April 27th. Mizuho upped their price target 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. JPMorgan Chase & Co. increased their price target on shares of Neptune Insurance from $26.00 to $30.00 and gave the company a "neutral" rating in a report on Monday. Finally, Evercore restated an "outperform" rating on shares of Neptune Insurance in a research report on Friday, May 8th. Eight research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Neptune Insurance currently has a consensus rating of "Hold" and an average price target of $29.18.

Insiders Place Their Bets

In related news, major shareholder Vii L.P. Ftv sold 787,806 shares of the company'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 $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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Hold 101 Lp Bsiv sold 688,403 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 transaction of $18,173,839.20. Following the transaction, the insider directly 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 disclosure for this sale is available in the SEC filing. Insiders have sold 11,317,604 shares of company stock valued at $298,784,746 in the last three months. Insiders own 74.26% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NP. Wells Fargo & Company MN bought a new position in shares of Neptune Insurance during the fourth quarter worth approximately $28,000. PNC Financial Services Group Inc. bought a new stake in shares of Neptune Insurance in the fourth quarter valued at approximately $125,000. Symmetry Investments LP acquired a new stake in Neptune Insurance during the fourth quarter worth approximately $204,000. Cohen & Steers Inc. acquired a new stake in Neptune Insurance during the fourth quarter worth approximately $292,000. Finally, Boothbay Fund Management LLC bought a new position in Neptune Insurance during the 4th quarter worth $294,000.

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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