Neptune Insurance (NYSE:NP) Upgraded to “Neutral” at Mizuho

Neptune Insurance (NYSE:NP) was upgraded by stock analysts at Mizuho from an “underperform” rating to a “neutral” rating in a research note issued on Wednesday, MarketBeat Ratings reports. The brokerage presently has a $24.00 price objective on the stock, down from their prior price objective of $26.00. Mizuho’s price target suggests a potential upside of 17.53% from the stock’s previous close.

NP has been the topic of several other research reports. BMO Capital Markets upgraded Neptune Insurance from a “market perform” rating to an “outperform” rating and cut their target price for the company from $25.00 to $20.00 in a research note on Friday, February 13th. Raymond James Financial set a $24.00 price objective on shares of Neptune Insurance in a research report on Monday. Bank of America upgraded shares of Neptune Insurance from an “underperform” rating to a “neutral” rating and set a $23.00 price objective for the company in a research note on Friday, February 20th. Morgan Stanley raised their target price on shares of Neptune Insurance from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Monday, November 17th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Neptune Insurance from $29.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. Eight analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Neptune Insurance has an average rating of “Moderate Buy” and a consensus target price of $26.65.

Neptune Insurance Stock Down 0.8%

Shares of NYSE:NP opened at $20.42 on Wednesday. The firm has a 50 day moving average of $25.45 and a 200 day moving average of $27.30. The company has a market capitalization of $2.82 billion and a price-to-earnings ratio of 185.64. Neptune Insurance has a 52 week low of $14.78 and a 52 week high of $33.23.

Neptune Insurance (NYSE:NP) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. The company had revenue of $43.77 million during the quarter, compared to analysts’ expectations of $39.42 million.

Insider Transactions at Neptune Insurance

In related news, Director Michael Warren Vostrizansky purchased 23,000 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was acquired at an average price of $21.50 per share, with a total value of $494,500.00. Following the completion of the acquisition, the director owned 23,000 shares in the company, valued at approximately $494,500. This represents a ? increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Institutional Trading of Neptune Insurance

Several large investors have recently added to or reduced their stakes in NP. T. Rowe Price Investment Management Inc. acquired a new position in shares of Neptune Insurance in the fourth quarter valued at about $133,488,000. XTX Topco Ltd purchased a new stake in Neptune Insurance in the fourth quarter valued at approximately $361,000. Zimmer Partners LP acquired a new position in Neptune Insurance in the 4th quarter worth approximately $3,645,000. Symmetry Investments LP purchased a new position in Neptune Insurance during the 4th quarter worth approximately $204,000. Finally, Readystate Asset Management LP purchased a new position in Neptune Insurance during the 4th quarter worth approximately $1,448,000.

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.