Neptune Insurance (NYSE:NP) Announces Quarterly Earnings Results
by Doug Wharley · The Cerbat GemNeptune Insurance (NYSE:NP – Get Free Report) issued its quarterly earnings data on Wednesday. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.04), Zacks reports.
Neptune Insurance Stock Performance
Shares of NYSE NP traded up $0.14 during midday trading on Wednesday, reaching $27.99. The company’s stock had a trading volume of 362,153 shares, compared to its average volume of 395,084. Neptune Insurance has a fifty-two week low of $14.78 and a fifty-two week high of $33.23. The business’s 50 day moving average price is $22.56 and its two-hundred day moving average price is $24.88. The company has a market cap of $3.87 billion and a P/E ratio of 127.22.
Insider Buying and Selling
In other Neptune Insurance news, Director Michael Warren Vostrizansky purchased 23,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director owned 23,000 shares in the company, valued at approximately $494,500. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Trevor R. Burgess acquired 50,000 shares of the stock in a transaction on Friday, March 13th. The shares were purchased at an average price of $18.71 per share, with a total value of $935,500.00. Following the completion of the transaction, the chief executive officer owned 2,082,964 shares of the company’s stock, valued at approximately $38,972,256.44. This represents a 2.46% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing.
Institutional Investors Weigh In On Neptune Insurance
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN bought a new stake in Neptune Insurance during the fourth quarter worth $28,000. PNC Financial Services Group Inc. bought a new stake in Neptune Insurance during the fourth quarter worth $125,000. Symmetry Investments LP bought a new stake in Neptune Insurance during the fourth quarter worth $204,000. Cohen & Steers Inc. bought a new stake in Neptune Insurance during the fourth quarter worth $292,000. Finally, Boothbay Fund Management LLC bought a new stake in Neptune Insurance during the fourth quarter worth $294,000.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on the stock. Mizuho raised their price objective on shares of Neptune Insurance from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Monday, April 13th. Bank of America raised their price objective on shares of Neptune Insurance from $23.00 to $26.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 14th. The Goldman Sachs Group reiterated a “buy” rating and issued a $32.50 price target on shares of Neptune Insurance in a research report on Wednesday, January 7th. Evercore set a $30.00 price target on shares of Neptune Insurance in a research report on Thursday, February 19th. Finally, Piper Sandler dropped their price target on shares of Neptune Insurance from $33.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $27.12.
View Our Latest Research Report on NP
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.