Neptune Insurance (NYSE:NP) Issues Earnings Results, Beats Estimates By $0.01 EPS

Key Points

• Neptune Insurance reported quarterly earnings of $0.15 per share, topping analyst expectations by $0.01, while revenue came in at $55.87 million versus the $52.39 million estimate.
• The stock fell $1.38 to $30.21 on the day, even after the earnings beat; shares have traded between $14.78 and $34.61 over the past year.
• Analyst sentiment remains cautious overall, with a consensus rating of “Hold” and an average price target of $29.82, despite several recent target increases.

Neptune Insurance (NYSE:NP - Get Free Report) issued its quarterly earnings data on Tuesday. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.14 by $0.01, FiscalAI reports. The company had revenue of $55.87 million during the quarter, compared to the consensus estimate of $52.39 million.

Neptune Insurance Price Performance

NYSE NP traded down $1.38 on Tuesday, reaching $30.21. The company had a trading volume of 727,568 shares, compared to its average volume of 600,268. The firm has a market cap of $4.18 billion and a price-to-earnings ratio of 111.88. Neptune Insurance has a fifty-two week low of $14.78 and a fifty-two week high of $34.61. The business has a 50 day moving average of $28.96 and a two-hundred day moving average of $25.93.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Bank of America raised their price objective on Neptune Insurance from $23.00 to $26.00 and gave the company a "neutral" rating in a report on Tuesday, April 14th. JPMorgan Chase & Co. upped their target price on Neptune Insurance from $26.00 to $30.00 and gave the stock a "neutral" rating in a report on Monday, July 13th. Morgan Stanley lifted their price target on Neptune Insurance from $26.00 to $29.00 and gave the company an "equal weight" rating in a research note on Thursday, May 21st. Keefe, Bruyette & Woods restated a "market perform" rating and set a $34.00 price target (up from $32.00) on shares of Neptune Insurance in a report on Wednesday, July 8th. Finally, Raymond James Financial reiterated an "outperform" rating on shares of Neptune Insurance in a report on Monday, April 27th. Eight research 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 data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $29.82.

Insider Activity

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. bought a new stake in shares of Neptune Insurance in the 4th quarter valued at $125,000. Geode Capital Management LLC acquired a new position in Neptune Insurance in the fourth quarter valued at $5,770,000. Norges Bank acquired a new position in Neptune Insurance in the fourth quarter valued at $2,479,000. Goldman Sachs Group Inc. bought a new stake in Neptune Insurance during the fourth quarter valued at $6,407,000. Finally, TD Asset Management Inc acquired a new stake in Neptune Insurance during the 4th quarter worth about $3,221,000.

About Neptune Insurance

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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