Wells Fargo & Company Issues Positive Forecast for Neptune Insurance (NYSE:NP) Stock Price

Neptune Insurance (NYSE:NP) had its target price lifted by Wells Fargo & Company from $35.00 to $37.00 in a research note released on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages also recently issued reports on NP. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $33.00 price target on shares of Neptune Insurance in a report on Wednesday. JPMorgan Chase & Co. upped their target price on Neptune Insurance from $26.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Evercore reiterated an “outperform” rating and issued a $36.00 target price on shares of Neptune Insurance in a research note on Wednesday. Piper Sandler raised their target price on Neptune Insurance from $30.00 to $39.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Finally, Morgan Stanley boosted their price target on Neptune Insurance from $26.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 21st. Eight equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $30.68.

Neptune Insurance Stock Down 0.7%

NP opened at $29.78 on Thursday. Neptune Insurance has a 52-week low of $14.78 and a 52-week high of $34.61. The company has a 50 day moving average of $29.08 and a two-hundred day moving average of $25.95. The company has a market cap of $4.12 billion and a P/E ratio of 119.11.

Neptune Insurance (NYSE:NP) last issued its earnings results on Tuesday, July 21st. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. The business had revenue of $55.87 million for the quarter, compared to the consensus estimate of $52.38 million. Neptune Insurance had a net margin of 21.45% and a negative return on equity of 18.77%. Research analysts anticipate that Neptune Insurance will post 0.4 earnings per share for the current year.

Insider Activity at Neptune Insurance

In other Neptune Insurance news, major shareholder Vii L.P. Ftv sold 5,252,044 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $26.40, for a total transaction of $138,653,961.60. Following the transaction, the insider directly owned 17,098,587 shares in the company, valued at $451,402,696.80. This represents a 23.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Hold 101 Lp Bsiv sold 4,589,351 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $26.40, for a total transaction of $121,158,866.40. Following the transaction, the insider directly owned 14,941,121 shares of the company’s stock, valued at approximately $394,445,594.40. This represents a 23.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 11,317,604 shares of company stock valued at $298,784,746. Company insiders own 74.26% of the company’s stock.

Hedge Funds Weigh In On Neptune Insurance

Several large investors have recently modified their holdings of the stock. Wells Fargo & Company MN acquired a new position in Neptune Insurance in the fourth quarter worth about $28,000. PNC Financial Services Group Inc. bought a new position in Neptune Insurance during the 4th quarter worth approximately $125,000. Symmetry Investments LP bought a new position in Neptune Insurance during the 4th quarter worth approximately $204,000. FJ Capital Management LLC acquired a new position in shares of Neptune Insurance in the 4th quarter worth approximately $289,000. Finally, BIT Capital GmbH bought a new stake in shares of Neptune Insurance in the 4th quarter valued at approximately $292,000.

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.