Neptune Insurance (NYSE:NP) Posts Quarterly Earnings Results, Hits Estimates

Key Points

• Neptune Insurance reported Q1 EPS of $0.09, matching estimates, with revenue of $37.8 million beating consensus and rising 28.8% year-over-year.
• Significant insider buying occurred recently — Director Michael Vostrizansky bought 23,000 shares and CEO Trevor R. Burgess purchased 50,000 shares — signaling insider confidence (insiders own 0.63%).
• Large institutions have taken new stakes (e.g., T. Rowe Price ~$133M, Balyasny, JPMorgan), and analysts’ consensus is a "Moderate Buy" with an average target of $27.12 while the stock trades near $27.99 (P/E ~127).

Neptune Insurance (NYSE:NP - Get Free Report) issued its quarterly earnings data on Wednesday. The company reported $0.09 earnings per share for the quarter, meeting analysts' consensus estimates of $0.09, Briefing.com reports. The company had revenue of $37.80 million for the quarter, compared to the consensus estimate of $36.96 million. The business's revenue for the quarter was up 28.8% compared to the same quarter last year.

Neptune Insurance Stock Performance

Shares of Neptune Insurance stock opened at $27.99 on Thursday. The stock has a market cap of $3.87 billion and a P/E ratio of 127.22. The stock's fifty day moving average is $22.73 and its 200 day moving average is $24.90. Neptune Insurance has a one year low of $14.78 and a one year high of $33.23.

Insider Activity

In related news, Director Michael Warren Vostrizansky acquired 23,000 shares of the business's stock in a transaction that occurred on Friday, February 20th. The stock was bought at an average cost of $21.50 per share, for a total transaction of $494,500.00. Following the purchase, the director owned 23,000 shares in the company, valued at $494,500. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Trevor R. Burgess bought 50,000 shares of Neptune Insurance stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average cost of $18.71 per share, with a total value of $935,500.00. Following the completion of the acquisition, the chief executive officer directly owned 2,082,964 shares in the company, valued at $38,972,256.44. This represents a 2.46% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.63% of the company's stock.

Hedge Funds Weigh In On Neptune Insurance

Several large investors have recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Neptune Insurance in the fourth quarter worth $133,488,000. Balyasny Asset Management L.P. purchased a new position in shares of Neptune Insurance during the 4th quarter valued at $29,051,000. JPMorgan Chase & Co. purchased a new position in shares of Neptune Insurance during the 4th quarter valued at $27,695,000. Bamco Inc. NY bought a new position in Neptune Insurance in the 4th quarter worth $20,667,000. Finally, Price T Rowe Associates Inc. MD purchased a new stake in Neptune Insurance in the 4th quarter worth $12,847,000.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Neptune Insurance from $25.00 to $28.00 and gave the company an "outperform" rating in a research note on Tuesday, April 7th. Piper Sandler dropped their price target on Neptune Insurance from $33.00 to $30.00 and set an "overweight" rating on the stock in a research note on Thursday, February 19th. Mizuho lifted their price objective on Neptune Insurance from $24.00 to $26.00 and gave the stock a "neutral" rating in a report on Monday, April 13th. BMO Capital Markets upgraded Neptune Insurance from a "market perform" rating to an "outperform" rating and reduced their price objective for the company from $25.00 to $20.00 in a research report on Friday, February 13th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of Neptune Insurance in a report on Monday. Eight investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $27.12.

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.