Neptune Insurance (NP) Set to Release Quarterly Earnings on Tuesday

by · The Markets Daily

Neptune Insurance (NYSE:NP – Get Free Report) is anticipated to post its results after the market closes on Tuesday, October 20th. Analysts expect the company to post earnings of $0.1587 per share and revenue of $56.59 million for the quarter.

Neptune Insurance (NYSE:NP – Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. Neptune Insurance had a net margin of 21.45% and a negative return on equity of 18.77%. The firm had revenue of $55.87 million for the quarter, compared to analyst estimates of $52.38 million. On average, analysts expect Neptune Insurance to post $0.40 EPS for the current fiscal year and $0.47 EPS for the next fiscal year.

Neptune Insurance Trading Down 0.3%

NP stock opened at $29.27 on Monday. Neptune Insurance has a 12-month low of $14.78 and a 12-month high of $35.15. The stock has a market cap of $4.02 billion and a price-to-earnings ratio of 117.06. The business’s 50-day moving average is $30.55 and its 200 day moving average is $29.29.

Insider Buying and Selling

In other news, major shareholder Hold 101 Lp Bsiv sold 1,632,160 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $33.22, for a total value of $54,220,355.20. Following the completion of the sale, the insider owned 12,620,558 shares of the company’s stock, valued at $419,254,936.76. This represents a 11.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jonathan Carlon sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $31.15, for a total transaction of $1,557,500.00. Following the sale, the director owned 603,500 shares of the company’s stock, valued at $18,799,025. This represents a 7.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,815,570 shares of company stock worth $125,567,525 over the last ninety days. 74.26% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Wells Fargo & Company reduced their target price on Neptune Insurance from $37.00 to $34.00 and set an “overweight” rating for the company in a report on Monday, October 12th. JPMorgan Chase & Co. lifted their price target on Neptune Insurance from $26.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Weiss Ratings lowered Neptune Insurance from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. Morgan Stanley upgraded Neptune Insurance from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $31.00 to $36.00 in a research report on Wednesday, August 19th. Finally, Evercore reissued an “outperform” rating and issued a $36.00 price objective on shares of Neptune Insurance in a research note on Wednesday, July 22nd. Eight research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.54.

Check Out Our Latest Report on Neptune Insurance

Neptune Insurance Company Profile

(Get Free Report)

Neptune Insurance is a technology-enabled insurance company focused on providing flood insurance coverage for residential and commercial property owners. Its offerings are designed to complement or supplement coverage available through the National Flood Insurance Program and traditional homeowners’ insurance policies, which generally provide limited protection against flood damage.

The company distributes its policies through insurance agents and brokers, using a digital platform intended to streamline quoting, underwriting, policy management and claims handling.

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