Evercore ISI Begins Coverage on Neptune Insurance (NYSE:NP)

Stock analysts at Evercore ISI initiated coverage on shares of Neptune Insurance (NYSE:NP) in a research note issued to investors on Monday, MarketBeat.com reports. The brokerage set an “outperform” rating and a $35.00 price target on the stock. Evercore ISI’s target price indicates a potential upside of 35.08% from the company’s current price.

A number of other research analysts have also weighed in on NP. Mizuho started coverage on shares of Neptune Insurance in a research report on Monday. They set an “underperform” rating and a $23.00 target price for the company. The Goldman Sachs Group started coverage on shares of Neptune Insurance in a research report on Monday. They set a “buy” rating and a $30.00 price objective for the company. BMO Capital Markets started coverage on shares of Neptune Insurance in a research report on Monday. They set a “market perform” rating and a $25.00 price objective for the company. Piper Sandler started coverage on shares of Neptune Insurance in a research report on Monday. They set an “overweight” rating and a $33.00 price objective for the company. Finally, Bank of America started coverage on shares of Neptune Insurance in a research report on Monday. They set an “underperform” rating and a $21.00 price objective for the company. Seven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Neptune Insurance presently has an average rating of “Hold” and a consensus target price of $27.54.

Neptune Insurance Stock Up 1.6%

Neptune Insurance stock opened at $25.91 on Monday. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of -15.80 and a beta of 1.46. The company has a debt-to-equity ratio of 1.55, a current ratio of 2.01 and a quick ratio of 1.22. Neptune Insurance has a fifty-two week low of $22.30 and a fifty-two week high of $33.23. The firm has a fifty day moving average price of $30.04 and a two-hundred day moving average price of $31.32.

Insider Transactions at Neptune Insurance

In related news, major shareholder Vii L.P. Ftv sold 678,019 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $18.75, for a total value of $12,712,856.25. Following the sale, the insider owned 22,350,631 shares of the company’s stock, valued at $419,074,331.25. The trade was a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Hold 101 Lp Bsiv sold 820,123 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $18.75, for a total transaction of $15,377,306.25. Following the completion of the sale, the insider directly owned 19,530,472 shares in the company, valued at approximately $366,196,350. The trade was a 4.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.63% of the company’s stock.

Neptune Insurance Company Profile

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.