Neptune Insurance (NYSE:NP) Upgraded by Bank of America to Neutral Rating

Bank of America upgraded shares of Neptune Insurance (NYSE:NP) from an underperform rating to a neutral rating in a research report released on Friday, MarketBeat Ratings reports. Bank of America currently has $23.00 price target on the stock.

Several other brokerages have also commented on NP. Morgan Stanley boosted their price target on Neptune Insurance from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Monday, November 17th. Keefe, Bruyette & Woods upgraded shares of Neptune Insurance from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $26.00 to $25.00 in a research note on Thursday. Piper Sandler dropped their target price 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. JPMorgan Chase & Co. began coverage on shares of Neptune Insurance in a research report on Monday, October 27th. They issued a “neutral” rating and a $25.00 price target on the stock. Finally, Evercore set a $30.00 price objective on shares of Neptune Insurance in a research note on Thursday. Eight research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $26.73.

Neptune Insurance Stock Up 4.0%

NYSE NP opened at $21.26 on Friday. Neptune Insurance has a twelve month low of $14.78 and a twelve month high of $33.23. The stock has a market cap of $2.93 billion and a P/E ratio of 193.27. The company’s 50-day simple moving average is $25.75 and its 200 day simple moving average is $27.52.

Neptune Insurance (NYSE:NP) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The business had revenue of $43.77 million for the quarter, compared to the consensus estimate of $39.42 million.

Institutional Investors Weigh In On Neptune Insurance

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Emerald Mutual Fund Advisers Trust bought a new stake in shares of Neptune Insurance during the third quarter valued at approximately $792,000. PNC Financial Services Group Inc. bought a new position in Neptune Insurance in the 4th quarter worth approximately $125,000. Cohen & Steers Inc. acquired a new position in Neptune Insurance during the 4th quarter worth $292,000. Boothbay Fund Management LLC bought a new position in Neptune Insurance in the 4th quarter valued at $294,000. Finally, XTX Topco Ltd acquired a new stake in shares of Neptune Insurance in the 4th quarter valued at $361,000.

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.