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

Neptune Insurance (NYSE:NP) posted its earnings results on Tuesday. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01, FiscalAI reports. Neptune Insurance had a negative return on equity of 18.77% and a net margin of 21.45%. The company had revenue of $59.57 million during the quarter, compared to the consensus estimate of $56.59 million.

Neptune Insurance Trading Up 0.8%

Shares of NP stock traded up $0.24 on Tuesday, hitting $29.54. 435,143 shares of the stock were exchanged, compared to its average volume of 589,194. Neptune Insurance has a one year low of $14.78 and a one year high of $35.15. The firm’s 50 day moving average is $30.52 and its two-hundred day moving average is $29.33. The firm has a market capitalization of $4.05 billion and a PE ratio of 118.15.

Insiders Place Their Bets

In other news, CFO James Steiner sold 57,012 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $31.71, for a total value of $1,807,850.52. Following the completion of the transaction, the chief financial officer directly owned 3,749,050 shares in the company, valued at approximately $118,882,375.50. This trade represents a 1.50% 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 Vii L.P. Ftv sold 1,867,840 shares of the company’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $33.22, for a total value of $62,049,644.80. Following the completion of the transaction, the insider owned 14,442,941 shares in the company, valued at $479,794,500.02. This represents a 11.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,815,570 shares of company stock worth $125,567,525 over the last quarter. Insiders own 74.26% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NP shares. Piper Sandler reaffirmed an “overweight” rating on shares of Neptune Insurance in a report on Monday. Weiss Ratings downgraded shares of Neptune Insurance from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. BMO Capital Markets lowered Neptune Insurance from an “outperform” rating to a “market perform” rating and set a $32.00 price objective on the stock. in a research note on Thursday, July 30th. Morgan Stanley raised shares of Neptune Insurance from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $31.00 to $36.00 in a research report on Wednesday, August 19th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Neptune Insurance from $34.00 to $33.00 and set a “market perform” rating for the company in a research report on Friday, July 24th. Eight investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, Neptune Insurance presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.54.

About Neptune Insurance

Neptune Insurance is a technology-enabled insurance company focused primarily on flood coverage for residential and commercial policyholders. Its platform is designed to streamline the insurance process, including quoting, underwriting and policy management, while providing coverage tailored to properties that may face flood-related risks.

The company offers flood insurance products for homeowners, renters, landlords and businesses. Its offerings are intended to complement or provide an alternative to coverage available through traditional government and private-market flood insurance programs, depending on the policyholder’s location and eligibility.

Neptune’s business is primarily focused on the United States, where flood risk varies significantly by geography and many properties are outside federally designated high-risk areas.