Neptune Insurance (NYSE:NP) Shares Down 7.8% – Should You Sell?

Neptune Insurance Holdings Inc. (NYSE:NP)’s stock price was down 7.8% during mid-day trading on Wednesday . The company traded as low as $26.44 and last traded at $26.3050. Approximately 164,078 shares traded hands during trading, a decline of 59% from the average daily volume of 398,984 shares. The stock had previously closed at $28.54.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on NP shares. Mizuho raised their price objective on Neptune Insurance from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, April 13th. BMO Capital Markets raised Neptune Insurance from a “market perform” rating to an “outperform” rating and cut their target price for the stock from $25.00 to $20.00 in a research note on Friday, February 13th. Piper Sandler cut their target price 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. Weiss Ratings reissued a “sell (d)” rating on shares of Neptune Insurance in a research note on Monday, April 20th. Finally, Evercore reissued an “outperform” rating on shares of Neptune Insurance in a research note on Friday, May 8th. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $27.42.

Neptune Insurance Stock Down 3.9%

The company’s fifty day simple moving average is $24.49 and its 200 day simple moving average is $24.94. The firm has a market capitalization of $3.79 billion and a PE ratio of 103.28.

Neptune Insurance (NYSE:NP) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. The company had revenue of $37.80 million during the quarter, compared to analysts’ expectations of $36.96 million. The business’s revenue was up 28.8% compared to the same quarter last year. Equities research analysts forecast that Neptune Insurance Holdings Inc. will post 0.39 EPS for the current year.

Insider Activity at Neptune Insurance

In other Neptune Insurance news, CEO Trevor R. Burgess bought 50,000 shares of the stock in a transaction dated Friday, March 13th. The stock was purchased at an average cost of $18.71 per share, for a total transaction of $935,500.00. Following the completion of the acquisition, the chief executive officer owned 2,082,964 shares of the company’s stock, valued at approximately $38,972,256.44. This trade represents a 2.46% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael Warren Vostrizansky bought 23,000 shares of the stock in a transaction dated Friday, February 20th. The shares were acquired at an average price of $21.50 per share, with a total value of $494,500.00. Following the completion of the acquisition, the director directly owned 23,000 shares of the company’s stock, valued at approximately $494,500. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. 74.26% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Neptune Insurance

A number of hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its holdings in Neptune Insurance by 73.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,440 shares of the company’s stock worth $180,000 after acquiring an additional 3,146 shares during the last quarter. Swiss National Bank purchased a new position in Neptune Insurance in the 1st quarter worth approximately $1,132,000. Fifth Third Bancorp purchased a new position in Neptune Insurance in the 1st quarter worth approximately $1,531,000. Y Intercept Hong Kong Ltd purchased a new position in Neptune Insurance in the 1st quarter worth approximately $359,000. Finally, T. Rowe Price Investment Management Inc. purchased a new position in Neptune Insurance in the 4th quarter worth approximately $133,488,000.

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.