Brokerages Set Neptune Insurance Holdings Inc. (NYSE:NP) PT at $26.65

Shares of Neptune Insurance Holdings Inc. (NYSE:NP) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $26.6538.

A number of analysts recently weighed in on the stock. Weiss Ratings began coverage on shares of Neptune Insurance in a research note on Wednesday, December 24th. They issued a “sell (d)” rating on the stock. Mizuho upgraded Neptune Insurance from an “underperform” rating to a “neutral” rating and lowered their price objective for the company from $26.00 to $24.00 in a research note on Wednesday, February 25th. Evercore set a $30.00 target price on Neptune Insurance in a research report on Thursday, February 19th. Morgan Stanley boosted their price target on 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, The Goldman Sachs Group reiterated a “buy” rating and set a $32.50 price objective on shares of Neptune Insurance in a research note on Wednesday, January 7th.

Insider Transactions at Neptune Insurance

In other news, Director Michael Warren Vostrizansky purchased 23,000 shares of Neptune Insurance stock in a transaction on Friday, February 20th. The shares were purchased at an average cost of $21.50 per share, for a total transaction of $494,500.00. Following the completion of the transaction, the director directly owned 23,000 shares in the company, valued at approximately $494,500. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Investors Weigh In On Neptune Insurance

A number of institutional investors and hedge funds have recently made changes to their positions in NP. Emerald Mutual Fund Advisers Trust bought a new position in Neptune Insurance in the third quarter valued at about $792,000. Sandia Investment Management LP acquired a new position in Neptune Insurance during the 4th quarter valued at about $306,000. T. Rowe Price Investment Management Inc. acquired a new position in Neptune Insurance during the 4th quarter valued at about $22,269,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Neptune Insurance in the 4th quarter valued at about $2,479,000. Finally, Walleye Capital LLC acquired a new stake in shares of Neptune Insurance during the 4th quarter worth approximately $3,364,000.

Neptune Insurance Trading Down 0.3%

Shares of NYSE NP opened at $21.06 on Friday. The firm has a market capitalization of $2.91 billion and a price-to-earnings ratio of 95.73. Neptune Insurance has a one year low of $14.78 and a one year high of $33.23. The business has a fifty day simple moving average of $24.63 and a 200 day simple moving average of $26.92.

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 the consensus estimate of $0.10 by $0.01. The business had revenue of $43.77 million during the quarter, compared to the consensus estimate of $39.42 million.

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.