Neptune Insurance (NYSE:NP) Upgraded by Wells Fargo & Company to Strong-Buy Rating

Wells Fargo & Company upgraded shares of Neptune Insurance (NYSE:NP) to a strong-buy rating in a research report report published on Tuesday,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. Weiss Ratings restated a “sell (d)” rating on shares of Neptune Insurance in a research report on Monday, April 20th. Mizuho lifted their target price 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. Bank of America boosted their target price on shares of Neptune Insurance from $23.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, April 14th. Keefe, Bruyette & Woods upped their price target on shares of Neptune Insurance from $28.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Finally, Morgan Stanley increased their price target on Neptune Insurance from $26.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $28.25.

Neptune Insurance Trading Up 8.0%

Shares of NP stock opened at $34.02 on Tuesday. Neptune Insurance has a 1-year low of $14.78 and a 1-year high of $34.15. The stock has a market cap of $4.71 billion and a price-to-earnings ratio of 126.01. The stock has a 50-day moving average of $27.69 and a 200-day moving average of $25.67.

Neptune Insurance (NYSE:NP) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. The company had revenue of $37.80 million during the quarter, compared to analyst estimates of $36.96 million. The firm’s quarterly revenue was up 28.8% compared to the same quarter last year. Sell-side analysts forecast that Neptune Insurance will post 0.4 earnings per share for the current year.

Insider Buying and Selling at Neptune Insurance

In other news, major shareholder Hold 101 Lp Bsiv sold 688,403 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $26.40, for a total transaction of $18,173,839.20. Following the transaction, the insider owned 14,252,718 shares in the company, valued at approximately $376,271,755.20. This represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Vii L.P. Ftv sold 787,806 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $26.40, for a total transaction of $20,798,078.40. Following the transaction, the insider directly owned 16,310,781 shares in the company, valued at $430,604,618.40. This trade represents a 4.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 11,317,604 shares of company stock valued at $298,784,746 in the last quarter. 74.26% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Maltese Capital Management LLC acquired a new stake in Neptune Insurance in the 3rd quarter valued at $3,200,000. Comerica Bank acquired a new position in Neptune Insurance during the fourth quarter worth $1,507,000. Capital World Investors acquired a new position in Neptune Insurance during the fourth quarter worth $32,091,000. Vanguard Group Inc. bought a new position in shares of Neptune Insurance in the fourth quarter valued at $47,063,000. Finally, Bregal Sagemount IV General Partner Jersey Ltd acquired a new position in shares of Neptune Insurance during the fourth quarter valued at about $569,509,000.

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.