Neptune Insurance (NYSE:NP) Price Target Raised to $33.00

Neptune Insurance (NYSE:NP) had its target price hoisted by Keefe, Bruyette & Woods from $32.00 to $33.00 in a research report released on Wednesday,Benzinga reports. They currently have a market perform rating on the stock.

Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. increased their target price on shares of Neptune Insurance from $26.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Evercore restated an “outperform” rating and set a $36.00 price target on shares of Neptune Insurance in a research report on Wednesday, July 22nd. Weiss Ratings lowered shares of Neptune Insurance from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. Piper Sandler reiterated an “overweight” rating on shares of Neptune Insurance in a report on Monday. Finally, BMO Capital Markets lowered shares of Neptune Insurance from an “outperform” rating to a “market perform” rating and set a $32.00 price objective on the stock. in a research note on Thursday, July 30th. Eight equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.61.

Neptune Insurance Trading Down 1.1%

NYSE:NP opened at $28.40 on Wednesday. Neptune Insurance has a 52 week low of $14.78 and a 52 week high of $35.15. The firm has a market capitalization of $3.90 billion and a PE ratio of 70.05. The stock has a 50 day moving average of $30.30 and a 200-day moving average of $29.41.

Neptune Insurance (NYSE:NP) last issued its quarterly earnings data on Tuesday, October 20th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.01. Neptune Insurance had a net margin of 22.71% and a negative return on equity of 26.63%. The firm had revenue of $59.57 million for the quarter, compared to the consensus estimate of $56.59 million. As a group, analysts predict that Neptune Insurance will post 0.41 EPS for the current fiscal year.

Insider Buying and Selling at Neptune Insurance

In other Neptune Insurance news, major shareholder Hold 101 Lp Bsiv sold 1,632,160 shares of the company’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $33.22, for a total value of $54,220,355.20. Following the transaction, the insider owned 12,620,558 shares of the company’s stock, valued at approximately $419,254,936.76. This represents a 11.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Matthew Duffy sold 84,441 shares of the stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $28.10, for a total value of $2,372,792.10. Following the sale, the insider owned 1,879,798 shares of the company’s stock, valued at $52,822,323.80. This trade represents a 4.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 3,815,570 shares of company stock valued at $125,567,525. Corporate insiders own 74.26% of the company’s stock.

Institutional Investors Weigh In On Neptune Insurance

Institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC lifted its holdings in shares of Neptune Insurance by 874.4% during the first quarter. Renaissance Technologies LLC now owns 160,703 shares of the company’s stock valued at $3,887,000 after purchasing an additional 144,210 shares during the last quarter. Walleye Capital LLC increased its stake in Neptune Insurance by 17.3% in the 1st quarter. Walleye Capital LLC now owns 135,364 shares of the company’s stock worth $3,274,000 after purchasing an additional 20,000 shares in the last quarter. Fifth Third Bancorp purchased a new position in Neptune Insurance in the 1st quarter worth about $1,531,000. Sei Investments Co. raised its holdings in Neptune Insurance by 203.3% during the 1st quarter. Sei Investments Co. now owns 59,114 shares of the company’s stock worth $1,430,000 after buying an additional 39,626 shares during the period. Finally, Swiss National Bank acquired a new stake in Neptune Insurance during the 1st quarter worth about $1,132,000.

About Neptune Insurance

Neptune Insurance is a technology-enabled insurance company focused primarily on flood coverage for residential and commercial policyholders. Its platform is designed to streamline the insurance process, including quoting, underwriting and policy management, while providing coverage tailored to properties that may face flood-related risks.

The company offers flood insurance products for homeowners, renters, landlords and businesses. Its offerings are intended to complement or provide an alternative to coverage available through traditional government and private-market flood insurance programs, depending on the policyholder’s location and eligibility.

Neptune’s business is primarily focused on the United States, where flood risk varies significantly by geography and many properties are outside federally designated high-risk areas.