Neptune Insurance (NYSE:NP) Stock Rating Upgraded by Mizuho

Neptune Insurance (NYSE:NP) was upgraded by equities research analysts at Mizuho from an “underperform” rating to a “neutral” rating in a research note issued on Wednesday, MarketBeat Ratings reports. The brokerage currently has a $24.00 target price on the stock, down from their previous target price of $26.00. Mizuho’s price objective indicates a potential upside of 17.53% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the company. Zacks Research raised Neptune Insurance to a “hold” rating in a report on Tuesday, October 28th. The Goldman Sachs Group reissued a “buy” rating and set a $32.50 price objective on shares of Neptune Insurance in a report on Wednesday, January 7th. Evercore set a $30.00 target price on Neptune Insurance in a research report on Thursday, February 19th. Deutsche Bank Aktiengesellschaft raised their price target on Neptune Insurance from $29.00 to $31.00 and gave the company a “buy” rating in a report on Monday, December 22nd. Finally, Piper Sandler decreased their price objective on Neptune Insurance from $33.00 to $30.00 and set an “overweight” rating on the stock in a report on Thursday, February 19th. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $26.65.

Neptune Insurance Price Performance

NP stock opened at $20.42 on Wednesday. The stock has a market capitalization of $2.82 billion and a P/E ratio of 185.64. Neptune Insurance has a 1-year low of $14.78 and a 1-year high of $33.23. The business has a fifty day moving average price of $25.45 and a 200-day moving average price of $27.30.

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

Insiders Place Their Bets

In other Neptune Insurance news, Director Michael Warren Vostrizansky bought 23,000 shares of the firm’s stock in a transaction dated Friday, February 20th. The stock was acquired at an average cost of $21.50 per share, for a total transaction of $494,500.00. Following the completion of the transaction, the director owned 23,000 shares in the company, valued at $494,500. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Investors Weigh In On Neptune Insurance

Several large investors have recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. bought a new position in Neptune Insurance in the 4th quarter worth about $133,488,000. XTX Topco Ltd purchased a new stake in shares of Neptune Insurance in the 4th quarter worth $361,000. Zimmer Partners LP bought a new position in shares of Neptune Insurance during the 4th quarter worth $3,645,000. Symmetry Investments LP purchased a new position in shares of Neptune Insurance during the fourth quarter valued at $204,000. Finally, Readystate Asset Management LP purchased a new position in shares of Neptune Insurance during the fourth quarter valued at $1,448,000.

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.