Neptune Insurance (NYSE:NP) Raised to Neutral at Bank of America

Neptune Insurance (NYSE:NP) was upgraded by equities researchers at Bank of America from an “underperform” rating to a “neutral” rating in a research note issued to investors on Friday, Marketbeat reports. The brokerage presently has a $23.00 price target on the stock. Bank of America‘s target price would suggest a potential upside of 8.18% from the company’s previous close.

Several other research analysts also recently commented on NP. Mizuho lifted their price target on shares of Neptune Insurance from $23.00 to $26.00 and gave the stock an “underperform” rating in a research note on Thursday, November 13th. Morgan Stanley increased their target price on shares of Neptune Insurance from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Monday, November 17th. JPMorgan Chase & Co. initiated coverage on shares of Neptune Insurance in a research note on Monday, October 27th. They issued a “neutral” rating and a $25.00 price target for the company. Raymond James Financial restated an “outperform” rating and set a $23.00 price target on shares of Neptune Insurance in a research report on Tuesday. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $32.50 price objective on shares of Neptune Insurance in a report on Wednesday, January 7th. Eight equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $26.73.

Neptune Insurance Stock Up 4.0%

NYSE NP opened at $21.26 on Friday. The stock’s 50-day simple moving average is $25.75 and its two-hundred day simple moving average is $27.49. Neptune Insurance has a twelve month low of $14.78 and a twelve month high of $33.23. The company has a market capitalization of $2.93 billion and a price-to-earnings ratio of 193.27.

Neptune Insurance (NYSE:NP) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. The firm had revenue of $43.77 million for the quarter, compared to the consensus estimate of $39.42 million.

Hedge Funds Weigh In On Neptune Insurance

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN bought a new stake in Neptune Insurance in the fourth quarter valued at $28,000. PNC Financial Services Group Inc. purchased a new stake in shares of Neptune Insurance in the 4th quarter worth about $125,000. FNY Investment Advisers LLC purchased a new stake in shares of Neptune Insurance in the 3rd quarter worth about $171,000. Symmetry Investments LP bought a new stake in shares of Neptune Insurance during the 4th quarter valued at about $204,000. Finally, FJ Capital Management LLC purchased a new position in shares of 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.