Neptune Insurance’s (NP) Market Perform Rating Reaffirmed at Keefe, Bruyette & Woods

Neptune Insurance (NYSE:NP)‘s stock had its “market perform” rating reissued by stock analysts at Keefe, Bruyette & Woods in a report released on Wednesday,Benzinga reports. They currently have a $34.00 target price on the stock, up from their previous target price of $32.00. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 0.76% from the stock’s current price.

Several other research firms have also commented on NP. Raymond James Financial reaffirmed an “outperform” rating on shares of Neptune Insurance in a research report on Monday, April 27th. Wells Fargo & Company began coverage on shares of Neptune Insurance in a research report on Tuesday, June 30th. They set an “overweight” rating and a $35.00 target price for the company. Evercore reaffirmed an “outperform” rating on shares of Neptune Insurance in a report on Friday, May 8th. Morgan Stanley increased their price target on shares of Neptune Insurance from $26.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 21st. Finally, Mizuho lifted their price target on shares of Neptune Insurance from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Monday, April 13th. Eight equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Neptune Insurance presently has a consensus rating of “Hold” and an average target price of $28.39.

Neptune Insurance Trading Up 1.1%

Shares of NP opened at $33.74 on Wednesday. The firm has a fifty day simple moving average of $28.16 and a two-hundred day simple moving average of $25.82. The firm has a market cap of $4.67 billion and a PE ratio of 124.98. Neptune Insurance has a 1-year low of $14.78 and a 1-year high of $34.61.

Neptune Insurance (NYSE:NP) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09. The firm had revenue of $37.80 million during the quarter, compared to analysts’ expectations of $36.96 million. The business’s quarterly revenue was up 28.8% on a year-over-year basis. As a group, research analysts forecast that Neptune Insurance will post 0.4 EPS for the current fiscal year.

Insider Buying and Selling at Neptune Insurance

In other news, major shareholder Vii L.P. Ftv sold 5,252,044 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $26.40, for a total value of $138,653,961.60. Following the transaction, the insider directly owned 17,098,587 shares in the company, valued at $451,402,696.80. The trade was a 23.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Hold 101 Lp Bsiv sold 4,589,351 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $26.40, for a total value of $121,158,866.40. Following the completion of the transaction, the insider directly owned 14,941,121 shares of the company’s stock, valued at approximately $394,445,594.40. This trade represents a 23.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 11,317,604 shares of company stock valued at $298,784,746 in the last ninety days. 74.26% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NP. Bregal Sagemount IV General Partner Jersey Ltd bought a new stake in shares of Neptune Insurance during the fourth quarter valued at approximately $569,509,000. T. Rowe Price Investment Management Inc. bought a new position in shares of Neptune Insurance during the fourth quarter worth $133,488,000. Vanguard Group Inc. bought a new position in shares of Neptune Insurance during the fourth quarter worth $47,063,000. Capital World Investors purchased a new position in Neptune Insurance during the fourth quarter valued at $32,091,000. Finally, Balyasny Asset Management L.P. purchased a new position in Neptune Insurance during the fourth quarter valued at $29,051,000.

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.