Neptune Insurance (NYSE:NP) Now Covered by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of Neptune Insurance (NYSE:NP) in a research report sent to investors on Monday morning, Marketbeat.com reports. The brokerage issued a neutral rating and a $25.00 price target on the stock.

NP has been the topic of several other reports. National Bankshares set a $23.00 target price on shares of Neptune Insurance in a report on Monday. Morgan Stanley began coverage on shares of Neptune Insurance in a report on Monday. They set an “equal weight” rating and a $26.00 target price on the stock. Wall Street Zen raised shares of Neptune Insurance to a “hold” rating in a research note on Saturday, October 11th. Piper Sandler began coverage on shares of Neptune Insurance in a research note on Monday. They issued an “overweight” rating and a $33.00 price objective on the stock. Finally, Evercore ISI began coverage on shares of Neptune Insurance in a research note on Monday. They issued an “outperform” rating and a $35.00 price objective on the stock. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $27.54.

Neptune Insurance Stock Down 2.6%

Shares of NP opened at $25.68 on Monday. Neptune Insurance has a 12 month low of $22.30 and a 12 month high of $33.23. The firm’s 50 day moving average is $30.16 and its 200-day moving average is $31.36. The stock has a market capitalization of $3.54 billion, a PE ratio of -15.66 and a beta of 1.46. The company has a current ratio of 2.01, a quick ratio of 1.22 and a debt-to-equity ratio of 1.55.

Insider Buying and Selling

In other Neptune Insurance news, major shareholder Hold 101 Lp Bsiv sold 820,123 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $18.75, for a total value of $15,377,306.25. Following the sale, the insider owned 19,530,472 shares in the company, valued at $366,196,350. This trade represents a 4.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Vii L.P. Ftv sold 678,019 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $18.75, for a total transaction of $12,712,856.25. Following the completion of the sale, the insider owned 22,350,631 shares in the company, valued at $419,074,331.25. This represents a 2.94% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.63% of the company’s stock.

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.