Neptune Insurance (NYSE:NP) Price Target Raised to $37.00

Neptune Insurance (NYSE:NP) had its price target raised by Wells Fargo & Company from $35.00 to $37.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Other research analysts have also issued research reports about the stock. Raymond James Financial reaffirmed an “outperform” rating on shares of Neptune Insurance in a research note on Monday, April 27th. Weiss Ratings restated a “sell (d)” rating on shares of Neptune Insurance in a report on Friday, July 17th. Bank of America boosted their price objective on shares of Neptune Insurance from $23.00 to $26.00 and gave the company a “neutral” rating in a research report on Tuesday, April 14th. Evercore reiterated an “outperform” rating and set a $36.00 target price on shares of Neptune Insurance in a report on Wednesday. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $34.00 price target (up from $32.00) on shares of Neptune Insurance in a research note on Wednesday, July 8th. Eight equities 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $30.61.

Neptune Insurance Price Performance

NYSE NP opened at $30.29 on Thursday. Neptune Insurance has a one year low of $14.78 and a one year high of $34.61. The firm has a market cap of $4.19 billion and a P/E ratio of 121.14. The stock’s 50-day moving average is $29.13 and its 200-day moving average is $25.98.

Neptune Insurance (NYSE:NP) last issued its quarterly earnings data on Tuesday, July 21st. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $52.38 million. Equities analysts anticipate that Neptune Insurance will post 0.4 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Vii L.P. Ftv sold 787,806 shares of the stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $26.40, for a total transaction of $20,798,078.40. Following the completion of the transaction, the insider owned 16,310,781 shares in the company, valued at approximately $430,604,618.40. This represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Hold 101 Lp Bsiv sold 688,403 shares of the firm’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $26.40, for a total transaction of $18,173,839.20. Following the completion of the transaction, the insider directly owned 14,252,718 shares of the company’s stock, valued at approximately $376,271,755.20. This trade represents a 4.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 11,317,604 shares of company stock worth $298,784,746. 74.26% of the stock is currently owned by insiders.

Institutional Trading of Neptune Insurance

Several institutional investors and hedge funds have recently bought and sold shares of NP. Wells Fargo & Company MN bought a new position in shares of Neptune Insurance in the fourth quarter valued at $28,000. PNC Financial Services Group Inc. raised its position in Neptune Insurance by 73.3% during the first quarter. PNC Financial Services Group Inc. now owns 7,440 shares of the company’s stock worth $180,000 after acquiring an additional 3,146 shares in the last quarter. Symmetry Investments LP acquired a new stake in Neptune Insurance in the fourth quarter valued at $204,000. FJ Capital Management LLC bought a new position in shares of Neptune Insurance in the 4th quarter valued at about $289,000. Finally, BIT Capital GmbH bought a new position in shares of Neptune Insurance in the 4th quarter valued at about $292,000.

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.