Neptune Insurance (NYSE:NP) Hits New 12-Month High - Here's What Happened

Key Points

• Neptune Insurance shares reached a new 52-week high, trading as high as $35.15 after closing at $31.88, with a market capitalization of approximately $4.84 billion.
• Recent analyst actions were generally positive, including price-target increases from Wells Fargo, JPMorgan, and Piper Sandler. However, the 15-analyst consensus remains “Hold,” with an average target price of $30.61.
• Neptune exceeded quarterly expectations, reporting $0.15 in adjusted EPS versus $0.14 expected and revenue of $55.87 million versus $52.38 million projected. Meanwhile, insiders sold 11.3 million shares worth approximately $298.8 million over the past 90 days.

Neptune Insurance Holdings Inc. (NYSE:NP - Get Free Report)'s share price hit a new 52-week high on Thursday . The stock traded as high as $35.15 and last traded at $34.9690, with a volume of 1598269 shares trading hands. The stock had previously closed at $31.88.

Analyst Ratings Changes

A number of brokerages have issued reports on NP. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $33.00 price target on shares of Neptune Insurance in a research report on Wednesday, July 22nd. Wells Fargo & Company upped their target price on Neptune Insurance from $35.00 to $37.00 and gave the stock an "overweight" rating in a research note on Thursday, July 23rd. JPMorgan Chase & Co. increased their target price on Neptune Insurance from $26.00 to $30.00 and gave the company a "neutral" rating in a research report on Monday, July 13th. Evercore reissued an "outperform" rating and issued a $36.00 price target on shares of Neptune Insurance in a report on Wednesday, July 22nd. Finally, Piper Sandler upped their price objective on shares of Neptune Insurance from $30.00 to $39.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 15th. Eight investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $30.61.

Neptune Insurance Stock Performance

The company has a 50 day simple moving average of $29.45 and a 200 day simple moving average of $26.06. The company has a market capitalization of $4.84 billion and a PE ratio of 139.88.

Neptune Insurance (NYSE:NP - Get Free Report) last released its earnings results on Tuesday, July 21st. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.01. The business had revenue of $55.87 million for 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, equities research analysts anticipate that Neptune Insurance Holdings Inc. will post 0.4 EPS for the current year.

Insiders Place Their Bets

In other Neptune Insurance news, major shareholder Hold 101 Lp Bsiv sold 4,589,351 shares of Neptune Insurance stock in a transaction on Friday, May 15th. The shares were sold at an average price of $26.40, for a total transaction of $121,158,866.40. Following the sale, the insider owned 14,941,121 shares of the company's stock, valued at $394,445,594.40. The trade was a 23.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Vii L.P. Ftv sold 5,252,044 shares of the company's stock in a transaction on Friday, May 15th. The stock was sold at an average price of $26.40, for a total transaction of $138,653,961.60. Following the sale, the insider directly owned 17,098,587 shares of the company's stock, valued at $451,402,696.80. The trade was a 23.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 11,317,604 shares of company stock worth $298,784,746 in the last 90 days. 74.26% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA acquired a new stake in shares of Neptune Insurance in the fourth quarter valued at approximately $759,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Neptune Insurance in the 4th quarter valued at $2,068,000. Vanguard Group Inc. acquired a new stake in shares of Neptune Insurance in the 4th quarter worth $47,063,000. Comerica Bank purchased a new position in shares of Neptune Insurance during the 4th quarter worth $1,507,000. Finally, TimesSquare Capital Management LLC purchased a new position in shares of Neptune Insurance during the 4th quarter worth $12,260,000.

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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