Neptune Insurance (NYSE:NP) Given New $28.00 Price Target at Keefe, Bruyette & Woods

Neptune Insurance (NYSE:NP) had its price objective upped by Keefe, Bruyette & Woods from $25.00 to $28.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other equities research analysts have also recently issued reports on NP. BMO Capital Markets upgraded shares of Neptune Insurance from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $25.00 to $20.00 in a report on Friday, February 13th. Bank of America upgraded shares of Neptune Insurance from an “underperform” rating to a “neutral” rating and set a $23.00 price objective for the company in a report on Friday, February 20th. Weiss Ratings assumed coverage on shares of Neptune Insurance in a report on Wednesday, December 24th. They issued a “sell (d)” rating for the company. Raymond James Financial set a $24.00 price objective on shares of Neptune Insurance in a report on Monday, February 23rd. Finally, Evercore set a $30.00 price objective on shares of Neptune Insurance in a report on Thursday, February 19th. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Neptune Insurance presently has a consensus rating of “Moderate Buy” and an average price target of $26.73.

Neptune Insurance Trading Down 2.3%

NYSE NP opened at $25.33 on Tuesday. Neptune Insurance has a 1-year low of $14.78 and a 1-year high of $33.23. The company has a market capitalization of $3.50 billion and a PE ratio of 115.11. The firm’s fifty day simple moving average is $22.17 and its 200-day simple moving average is $25.24.

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

Insider Transactions at Neptune Insurance

In other news, CEO Trevor R. Burgess purchased 50,000 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was bought at an average cost of $18.71 per share, for a total transaction of $935,500.00. Following the completion of the acquisition, the chief executive officer directly owned 2,082,964 shares of the company’s stock, valued at approximately $38,972,256.44. The trade was a 2.46% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Warren Vostrizansky purchased 23,000 shares of the firm’s stock in a transaction on Friday, February 20th. The shares were purchased at an average price of $21.50 per share, with a total value of $494,500.00. Following the completion of the acquisition, the director directly owned 23,000 shares of the company’s stock, valued at approximately $494,500. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.63% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Neptune Insurance

A number of hedge funds have recently bought and sold shares of NP. Wells Fargo & Company MN bought a new stake in Neptune Insurance during the fourth quarter valued at about $28,000. PNC Financial Services Group Inc. bought a new stake in Neptune Insurance during the fourth quarter valued at about $125,000. FNY Investment Advisers LLC bought a new stake in Neptune Insurance during the third quarter valued at about $171,000. Symmetry Investments LP bought a new stake in Neptune Insurance during the fourth quarter valued at about $204,000. Finally, FJ Capital Management LLC bought a new stake in Neptune Insurance during the fourth quarter valued at about $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.