Neptune Insurance (NYSE:NP) Price Target Raised to $29.00

Neptune Insurance (NYSE:NP) had its price objective raised by Morgan Stanley from $26.00 to $29.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 5.41% from the stock’s previous close.

Several other research analysts have also commented on NP. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Neptune Insurance in a research report on Monday, April 20th. Evercore reiterated an “outperform” rating on shares of Neptune Insurance in a research report on Friday, May 8th. Raymond James Financial reissued an “outperform” rating on shares of Neptune Insurance in a research report on Monday, April 27th. Piper Sandler dropped their price objective on shares of Neptune Insurance from $33.00 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday, February 19th. Finally, BMO Capital Markets upgraded shares of Neptune Insurance from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $25.00 to $20.00 in a research note on Friday, February 13th. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $27.73.

Neptune Insurance Price Performance

NYSE NP opened at $27.51 on Thursday. The company has a fifty day moving average of $25.28 and a two-hundred day moving average of $25.01. The company has a market capitalization of $3.81 billion and a PE ratio of 101.89. Neptune Insurance has a 1 year low of $14.78 and a 1 year high of $33.23.

Neptune Insurance (NYSE:NP) last posted its earnings results on Wednesday, April 22nd. The company reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. The firm had revenue of $37.80 million for the quarter, compared to analyst estimates of $36.96 million. The company’s quarterly revenue was up 28.8% compared to the same quarter last year. On average, research analysts expect that Neptune Insurance will post 0.39 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Trevor R. Burgess acquired 50,000 shares of the business’s stock in a transaction on Friday, March 13th. The stock was bought at an average price of $18.71 per share, for a total transaction of $935,500.00. Following the transaction, the chief executive officer owned 2,082,964 shares in the company, valued at $38,972,256.44. This represents a 2.46% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Vii L.P. Ftv sold 787,806 shares of the firm’s stock in a transaction on 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 completion of the sale, the insider owned 16,310,781 shares of the company’s stock, valued at $430,604,618.40. This trade represents a 4.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 11,317,604 shares of company stock valued at $298,784,746 in the last ninety days. Company insiders own 74.26% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN purchased a new stake in Neptune Insurance in the 4th quarter valued at approximately $28,000. PNC Financial Services Group Inc. acquired a new stake in shares of Neptune Insurance in the 4th quarter valued at approximately $125,000. FNY Investment Advisers LLC purchased a new stake in shares of Neptune Insurance in the third quarter valued at approximately $171,000. Symmetry Investments LP purchased a new stake in shares of Neptune Insurance in the fourth quarter valued at approximately $204,000. Finally, FJ Capital Management LLC acquired a new position in Neptune Insurance during the fourth quarter worth $289,000.

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.