Keefe, Bruyette & Woods Reaffirms “Market Perform” Rating for Neptune Insurance (NYSE:NP)

Neptune Insurance (NYSE:NP)‘s stock had its “market perform” rating restated by research analysts at Keefe, Bruyette & Woods in a research report issued on Wednesday,Benzinga reports. They presently have a $34.00 target price on the stock, up from their previous target price of $32.00. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 0.76% from the company’s previous close.

A number of other equities analysts have also recently commented on the stock. Bank of America lifted their price target on shares of Neptune Insurance from $23.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 14th. Wells Fargo & Company started coverage on shares of Neptune Insurance in a research note on Tuesday, June 30th. They issued an “overweight” rating and a $35.00 price objective for the company. Morgan Stanley boosted their target price on Neptune Insurance from $26.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Neptune Insurance in a research note on Monday, April 20th. Finally, Mizuho increased their price target on Neptune Insurance from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Monday, April 13th. Eight investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $28.39.

Neptune Insurance Stock Performance

NP stock opened at $33.74 on Wednesday. The firm has a fifty day moving average price of $28.16 and a 200 day moving average price of $25.82. Neptune Insurance has a fifty-two week low of $14.78 and a fifty-two week high of $34.61. The firm has a market cap of $4.67 billion and a PE ratio of 124.98.

Neptune Insurance (NYSE:NP) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. The company had revenue of $37.80 million for the quarter, compared to the consensus estimate of $36.96 million. Neptune Insurance’s quarterly revenue was up 28.8% compared to the same quarter last year. On average, equities analysts predict that Neptune Insurance will post 0.4 EPS for the current year.

Insider Activity

In other news, major shareholder Hold 101 Lp Bsiv sold 688,403 shares of the firm’s stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Vii L.P. Ftv sold 787,806 shares of Neptune Insurance stock in a transaction that occurred 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 sale, the insider directly owned 16,310,781 shares of the company’s stock, valued at $430,604,618.40. This represents a 4.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 11,317,604 shares of company stock valued at $298,784,746. 74.26% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Neptune Insurance

Institutional investors and hedge funds have recently bought and sold shares of the company. Maltese Capital Management LLC bought a new position in shares of Neptune Insurance during the 3rd quarter worth $3,200,000. Comerica Bank bought a new stake in shares of Neptune Insurance in the fourth quarter valued at about $1,507,000. Capital World Investors purchased a new stake in Neptune Insurance in the fourth quarter worth about $32,091,000. Vanguard Group Inc. purchased a new stake in shares of Neptune Insurance in the 4th quarter worth approximately $47,063,000. Finally, Bregal Sagemount IV General Partner Jersey Ltd bought a new position in shares of Neptune Insurance during the fourth quarter valued at approximately $569,509,000.

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.