Neptune Insurance (NYSE:NP) Shares Up 3.5% – Here’s Why

Neptune Insurance Holdings Inc. (NYSE:NP)’s stock price was up 3.5% during mid-day trading on Monday . The company traded as high as $31.11 and last traded at $30.94. Approximately 19,263 shares changed hands during trading, a decline of 95% from the average daily volume of 407,299 shares. The stock had previously closed at $29.90.

Analyst Ratings Changes

Several equities analysts have recently weighed in on NP shares. Weiss Ratings assumed coverage on Neptune Insurance in a report on Wednesday. They set a “sell (d)” rating for the company. Wall Street Zen upgraded shares of Neptune Insurance to a “hold” rating in a research note on Saturday, October 11th. Mizuho upped their target price on shares of Neptune Insurance from $23.00 to $26.00 and gave the stock an “underperform” rating in a research note on Thursday, November 13th. The Goldman Sachs Group started coverage on shares of Neptune Insurance in a report on Monday, October 27th. They set a “buy” rating and a $30.00 price target on the stock. Finally, Keefe, Bruyette & Woods initiated coverage on shares of Neptune Insurance in a report on Monday, October 27th. They issued a “market perform” rating and a $26.00 price objective for the company. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $28.12.

Neptune Insurance Price Performance

The stock has a market capitalization of $4.18 billion, a PE ratio of -18.46 and a beta of 1.46. The firm’s fifty day moving average price is $25.89 and its two-hundred day moving average price is $29.48. The company has a quick ratio of 1.22, a current ratio of 2.01 and a debt-to-equity ratio of 1.55.

Neptune Insurance (NYSE:NP) last posted its earnings results on Wednesday, November 12th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). The company had revenue of $44.37 million during the quarter, compared to the consensus estimate of $42.58 million. Neptune Insurance had a positive return on equity of 11.06% and a negative net margin of 2.53%.

Insider Activity at Neptune Insurance

In other Neptune Insurance news, major shareholder Vii L.P. Ftv sold 678,019 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $18.75, for a total value of $12,712,856.25. Following the transaction, the insider owned 22,350,631 shares of the company’s stock, valued at approximately $419,074,331.25. This represents a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Hold 101 Lp Bsiv sold 820,123 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $18.75, for a total value of $15,377,306.25. Following the completion of the transaction, the insider directly owned 19,530,472 shares in the company, valued at $366,196,350. The trade was a 4.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have bought 174,050 shares of company stock valued at $3,481,000 in the last 90 days. 0.63% of the stock is owned by company insiders.

Institutional Trading of Neptune Insurance

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC bought a new stake in shares of Neptune Insurance during the 3rd quarter valued at $171,000. Emerald Mutual Fund Advisers Trust purchased a new position in Neptune Insurance during the third quarter valued at $792,000. Finally, Maltese Capital Management LLC bought a new stake in Neptune Insurance during the third quarter valued at about $3,200,000. 93.37% of the stock is owned by hedge funds and other institutional investors.

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.