Keefe, Bruyette & Woods Lowers Neptune Insurance (NYSE:NP) Price Target to $33.00

Neptune Insurance (NYSE:NP) had its price objective lowered by equities researchers at Keefe, Bruyette & Woods from $34.00 to $33.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 8.96% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Wells Fargo & Company increased their price objective on Neptune Insurance from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday. Evercore reaffirmed an “outperform” rating and set a $36.00 target price on shares of Neptune Insurance in a research note on Wednesday. JPMorgan Chase & Co. boosted their price target on Neptune Insurance from $26.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Mizuho increased their price target on Neptune Insurance from $29.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Finally, Piper Sandler raised their price target on Neptune Insurance from $30.00 to $39.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Eight investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $30.61.

Neptune Insurance Stock Up 1.4%

Neptune Insurance stock opened at $30.29 on Friday. The firm has a 50-day moving average price of $29.13 and a two-hundred day moving average price of $25.98. The firm has a market capitalization of $4.19 billion and a price-to-earnings ratio of 121.14. Neptune Insurance has a 52-week low of $14.78 and a 52-week high of $34.61.

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

Insider Buying and Selling

In related news, major shareholder Vii L.P. Ftv sold 5,252,044 shares of the firm’s stock in a transaction that occurred 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 owned 17,098,587 shares in the company, valued at $451,402,696.80. This trade represents a 23.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Hold 101 Lp Bsiv sold 4,589,351 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $26.40, for a total value of $121,158,866.40. Following the sale, the insider directly owned 14,941,121 shares in the company, valued at approximately $394,445,594.40. The trade was a 23.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 11,317,604 shares of company stock worth $298,784,746 in the last quarter. Company insiders own 74.26% of the company’s stock.

Institutional Trading of Neptune Insurance

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