Keefe, Bruyette & Woods Issues Pessimistic Forecast for Neptune Insurance (NYSE:NP) Stock Price

Neptune Insurance (NYSE:NP) had its price target lowered by stock analysts at Keefe, Bruyette & Woods from $34.00 to $33.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 7.65% from the company’s previous close.

Several other brokerages also recently issued reports on NP. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Neptune Insurance in a research report on Friday, July 17th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $33.00 price target on shares of Neptune Insurance in a report on Wednesday. Wells Fargo & Company boosted their price objective on shares of Neptune Insurance from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday. Piper Sandler upped their price objective on shares of Neptune Insurance from $30.00 to $39.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Finally, Morgan Stanley set a $31.00 target price on Neptune Insurance in a research note on Thursday. Eight research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $30.61.

Neptune Insurance Stock Up 2.6%

Shares of NP traded up $0.78 during mid-day trading on Friday, hitting $30.66. 252,625 shares of the company’s stock were exchanged, compared to its average volume of 604,244. The stock has a market cap of $4.24 billion and a price-to-earnings ratio of 122.42. Neptune Insurance has a twelve month low of $14.78 and a twelve month high of $34.61. The firm has a fifty day moving average of $29.08 and a two-hundred day moving average of $25.95.

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

Insider Buying and Selling at Neptune Insurance

In other news, major shareholder Hold 101 Lp Bsiv sold 688,403 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $26.40, for a total value of $18,173,839.20. Following the sale, the insider owned 14,252,718 shares in the company, valued at approximately $376,271,755.20. The trade was a 4.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Vii L.P. Ftv sold 787,806 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $26.40, for a total transaction of $20,798,078.40. Following the sale, the insider owned 16,310,781 shares of the company’s stock, valued at $430,604,618.40. This trade represents a 4.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 11,317,604 shares of company stock worth $298,784,746 in the last 90 days. 74.26% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NP. Bregal Sagemount IV General Partner Jersey Ltd acquired a new stake in Neptune Insurance during the 4th quarter valued at $569,509,000. T. Rowe Price Investment Management Inc. bought a new stake in shares of Neptune Insurance during the fourth quarter worth $133,488,000. Vanguard Group Inc. bought a new position in shares of Neptune Insurance in the fourth quarter valued at about $47,063,000. Capital World Investors bought a new stake in Neptune Insurance during the 4th quarter worth about $32,091,000. Finally, Balyasny Asset Management L.P. acquired a new stake in Neptune Insurance in the 4th quarter valued at about $29,051,000.

Neptune Insurance Company Profile

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.