Neptune Insurance (NYSE:NP) Price Target Raised to $30.00 at JPMorgan Chase & Co.

Neptune Insurance (NYSE:NP) had its price target upped by stock analysts at JPMorgan Chase & Co. from $26.00 to $30.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 6.44% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on NP. 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. Evercore restated an “outperform” rating on shares of Neptune Insurance in a research report on Friday, May 8th. Weiss Ratings reiterated a “sell (d)” rating on shares of Neptune Insurance in a research note on Monday, April 20th. Raymond James Financial restated an “outperform” rating on shares of Neptune Insurance in a report on Monday, April 27th. Finally, Morgan Stanley increased their target price on shares of Neptune Insurance from $26.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. Eight equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $29.18.

Neptune Insurance Stock Up 0.5%

Shares of NP stock traded up $0.14 on Monday, hitting $32.06. The company had a trading volume of 73,221 shares, compared to its average volume of 603,045. The firm has a market cap of $4.44 billion and a P/E ratio of 118.50. Neptune Insurance has a twelve month low of $14.78 and a twelve month high of $34.61. The company has a 50-day moving average price of $28.50 and a 200-day moving average price of $25.88.

Neptune Insurance (NYSE:NP) last posted its earnings results on Wednesday, April 22nd. The company reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. The firm had revenue of $37.80 million during the quarter, compared to analyst estimates of $36.96 million. The company’s quarterly revenue was up 28.8% on a year-over-year basis. Equities research analysts expect that Neptune Insurance will post 0.4 EPS for the current year.

Insider Activity at Neptune Insurance

In related news, major shareholder Hold 101 Lp Bsiv sold 4,589,351 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $26.40, for a total transaction of $121,158,866.40. Following the completion of the transaction, the insider owned 14,941,121 shares of the company’s stock, valued at approximately $394,445,594.40. This trade represents a 23.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Vii L.P. Ftv sold 5,252,044 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $26.40, for a total value of $138,653,961.60. Following the completion of the sale, the insider directly owned 17,098,587 shares in the company, valued at approximately $451,402,696.80. The trade was a 23.50% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 11,317,604 shares of company stock worth $298,784,746. Company insiders own 74.26% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NP. Wells Fargo & Company MN purchased a new stake in Neptune Insurance during the 4th quarter worth approximately $28,000. PNC Financial Services Group Inc. acquired a new stake in shares of Neptune Insurance in the fourth quarter valued at $125,000. FNY Investment Advisers LLC purchased a new stake in Neptune Insurance during the 3rd quarter worth about $171,000. Symmetry Investments LP acquired a new stake in Neptune Insurance in the fourth quarter valued at $204,000. Finally, FJ Capital Management LLC purchased a new stake in Neptune Insurance during the fourth quarter worth approximately $289,000.

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.