Neptune Insurance (NYSE:NP) Upgraded by Mizuho to “Neutral” Rating

Mizuho upgraded shares of Neptune Insurance (NYSE:NP) from an underperform rating to a neutral rating in a report published on Wednesday, Marketbeat.com reports. They currently have $24.00 target price on the stock, down from their prior target price of $26.00.

Several other research firms also recently weighed in on NP. Raymond James Financial set a $24.00 target price on Neptune Insurance in a research report on Monday. Weiss Ratings started coverage on shares of Neptune Insurance in a report on Wednesday, December 24th. They set a “sell (d)” rating for the company. Piper Sandler lowered their price objective on shares of Neptune Insurance from $33.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $32.50 target price on shares of Neptune Insurance in a research report on Wednesday, January 7th. Finally, Keefe, Bruyette & Woods raised Neptune Insurance from a “market perform” rating to an “outperform” rating and decreased their target price for the company from $26.00 to $25.00 in a research report on Thursday, February 19th. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $26.65.

Neptune Insurance Price Performance

Shares of NYSE:NP opened at $21.34 on Wednesday. The firm has a market capitalization of $2.95 billion and a PE ratio of 194.00. The business has a 50 day simple moving average of $25.30 and a two-hundred day simple moving average of $27.26. Neptune Insurance has a 1 year low of $14.78 and a 1 year high of $33.23.

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

Insider Activity

In related news, Director Michael Warren Vostrizansky purchased 23,000 shares of Neptune Insurance stock in a transaction dated Friday, February 20th. The stock was purchased at an average cost of $21.50 per share, with a total value of $494,500.00. Following the transaction, the director owned 23,000 shares in the company, valued at approximately $494,500. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NP. Emerald Mutual Fund Advisers Trust purchased a new position in Neptune Insurance in the third quarter worth $792,000. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Neptune Insurance during the fourth quarter worth about $22,269,000. Adage Capital Partners GP L.L.C. acquired a new position in Neptune Insurance during the 4th quarter valued at approximately $9,185,000. Fred Alger Management LLC purchased a new position in shares of Neptune Insurance in the fourth quarter worth $628,000. Finally, Walleye Capital LLC acquired a new stake in shares of Neptune Insurance during the fourth quarter worth $3,364,000.

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. 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.