Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Neptune Insurance (NYSE:NP) Stock

Neptune Insurance (NYSE:NP) had its price objective upped by analysts at Keefe, Bruyette & Woods from $28.00 to $32.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 19.73% from the stock’s previous close.

A number of other equities analysts also recently weighed in on NP. Bank of America boosted their price target on Neptune Insurance from $23.00 to $26.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 14th. Mizuho boosted their price target on Neptune Insurance from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Monday, April 13th. Weiss Ratings restated a “sell (d)” rating on shares of Neptune Insurance in a report on Monday. Evercore set a $30.00 price objective on Neptune Insurance in a report on Thursday, February 19th. Finally, Piper Sandler reduced their price objective on Neptune Insurance from $33.00 to $30.00 and set an “overweight” rating for the company in a report on Thursday, February 19th. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Neptune Insurance presently has an average rating of “Moderate Buy” and a consensus price target of $27.42.

Neptune Insurance Stock Down 1.7%

Shares of NYSE NP opened at $26.73 on Thursday. The business’s 50 day moving average price is $23.09 and its two-hundred day moving average price is $24.89. The company has a market cap of $3.69 billion and a PE ratio of 121.49. Neptune Insurance has a twelve month low of $14.78 and a twelve month high of $33.23.

Neptune Insurance (NYSE:NP) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. The business had revenue of $37.80 million for the quarter, compared to analyst estimates of $36.96 million. Neptune Insurance’s revenue was up 28.8% compared to the same quarter last year. As a group, research analysts anticipate that Neptune Insurance will post 0.38 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Trevor R. Burgess acquired 50,000 shares of Neptune Insurance stock in a transaction dated 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 completion of the acquisition, the chief executive officer directly owned 2,082,964 shares in the company, valued at approximately $38,972,256.44. The trade was a 2.46% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael Warren Vostrizansky acquired 23,000 shares of Neptune Insurance stock in a transaction dated 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 acquisition, the director 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. Insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On Neptune Insurance

Institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN bought a new stake in shares of Neptune Insurance in the fourth quarter valued at approximately $28,000. PNC Financial Services Group Inc. bought a new stake in shares of Neptune Insurance in the fourth quarter valued at approximately $125,000. FNY Investment Advisers LLC bought a new stake in shares of Neptune Insurance in the third quarter valued at approximately $171,000. Symmetry Investments LP bought a new stake in shares of Neptune Insurance in the fourth quarter valued at approximately $204,000. Finally, FJ Capital Management LLC bought a new stake in shares of Neptune Insurance in the fourth quarter valued at approximately $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.