Neptune Insurance (NYSE:NP) Raised to Strong-Buy at Wells Fargo & Company

Neptune Insurance (NYSE:NP) was upgraded by analysts at Wells Fargo & Company to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

A number of other equities analysts have also issued reports on NP. Raymond James Financial reaffirmed an “outperform” rating on shares of Neptune Insurance in a research report on Monday, April 27th. Evercore reissued an “outperform” rating on shares of Neptune Insurance in a report on Friday, May 8th. Bank of America raised their price objective on Neptune Insurance from $23.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 14th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Neptune Insurance in a report on Monday, April 20th. Finally, Keefe, Bruyette & Woods upped their target price on Neptune Insurance from $28.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.25.

Neptune Insurance Trading Up 8.0%

NYSE:NP opened at $34.02 on Tuesday. The company has a market cap of $4.71 billion and a PE ratio of 126.01. Neptune Insurance has a twelve month low of $14.78 and a twelve month high of $34.15. The company’s 50 day moving average is $27.69 and its two-hundred day moving average is $25.67.

Neptune Insurance (NYSE:NP) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $0.09 earnings per share (EPS) 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 business’s revenue for the quarter was up 28.8% on a year-over-year basis. As a group, analysts expect that Neptune Insurance will post 0.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other Neptune Insurance news, major shareholder Hold 101 Lp Bsiv sold 4,589,351 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 transaction of $121,158,866.40. Following the completion of the transaction, the insider owned 14,941,121 shares in the company, valued at approximately $394,445,594.40. This trade represents a 23.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Vii L.P. Ftv sold 5,252,044 shares of Neptune Insurance stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $26.40, for a total value of $138,653,961.60. Following the transaction, the insider 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 disclosure for this sale is available in the SEC filing. Insiders have sold 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 insiders.

Institutional Trading of Neptune Insurance

A number of hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN acquired a new stake in Neptune Insurance during the fourth quarter worth about $28,000. PNC Financial Services Group Inc. acquired a new position in Neptune Insurance in the fourth quarter valued at approximately $125,000. FNY Investment Advisers LLC purchased a new stake in Neptune Insurance in the 3rd quarter worth approximately $171,000. Symmetry Investments LP purchased a new stake in Neptune Insurance in the 4th quarter worth approximately $204,000. Finally, FJ Capital Management LLC acquired a new stake in shares of Neptune Insurance during the 4th quarter worth approximately $289,000.

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.