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

Neptune Insurance Holdings Inc. (NYSE:NP) shares reached a new 52-week high on Wednesday . The company traded as high as $33.81 and last traded at $33.6050, with a volume of 202531 shares traded. The stock had previously closed at $31.50.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NP shares. Keefe, Bruyette & Woods upped their price objective on shares of Neptune Insurance from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Weiss Ratings restated a “sell (d)” rating on shares of Neptune Insurance in a report on Monday, April 20th. Morgan Stanley upped their price target on Neptune Insurance from $26.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. Raymond James Financial reaffirmed an “outperform” rating on shares of Neptune Insurance in a report on Monday, April 27th. Finally, Bank of America lifted their price objective on Neptune Insurance from $23.00 to $26.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 14th. Nine equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Neptune Insurance presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.25.

Neptune Insurance Stock Performance

The company has a 50 day moving average price of $27.80 and a 200 day moving average price of $25.71. The firm has a market cap of $4.58 billion and a price-to-earnings ratio of 122.68.

Neptune Insurance (NYSE:NP) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $0.09 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.09. The company had revenue of $37.80 million for the quarter, compared to analyst estimates of $36.96 million. The company’s revenue was up 28.8% compared to the same quarter last year. On average, research analysts forecast that Neptune Insurance Holdings Inc. will post 0.4 earnings per share for the current year.

Insider Transactions at Neptune Insurance

In other Neptune Insurance news, major shareholder Vii L.P. Ftv sold 5,252,044 shares of Neptune Insurance 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 completion of the transaction, 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. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Hold 101 Lp Bsiv sold 4,589,351 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was 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 in the company, valued at $394,445,594.40. This trade represents a 23.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 11,317,604 shares of company stock valued at $298,784,746 over the last 90 days. 74.26% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Neptune Insurance

Several large investors have recently added to or reduced their stakes in NP. Bregal Sagemount IV General Partner Jersey Ltd acquired a new position in shares of Neptune Insurance in the fourth quarter worth $569,509,000. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Neptune Insurance in the fourth quarter valued at $133,488,000. Vanguard Group Inc. purchased a new position in Neptune Insurance in the fourth quarter valued at $47,063,000. Capital World Investors acquired a new position in Neptune Insurance during the 4th quarter worth $32,091,000. Finally, Balyasny Asset Management L.P. acquired a new position in Neptune Insurance during the 4th quarter worth $29,051,000.

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.