Neptune Insurance (NYSE:NP) Upgraded at Bank of America

Bank of America upgraded shares of Neptune Insurance (NYSE:NP) from an underperform rating to a neutral rating in a report published on Friday, MarketBeat Ratings reports. Bank of America currently has $23.00 price target on the stock.

NP has been the subject of several other research reports. Morgan Stanley upped their price objective 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. TD Cowen assumed coverage on Neptune Insurance in a research note on Monday, October 27th. They issued a “buy” rating on the stock. Raymond James Financial reissued an “outperform” rating and set a $23.00 target price on shares of Neptune Insurance in a research note on Tuesday, February 17th. Zacks Research upgraded Neptune Insurance to a “hold” rating in a report on Tuesday, October 28th. Finally, Evercore set a $30.00 target price on shares of Neptune Insurance in a research report on Thursday. Eight equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.73.

Neptune Insurance Stock Performance

Shares of NP stock opened at $21.26 on Friday. Neptune Insurance has a fifty-two week low of $14.78 and a fifty-two week high of $33.23. The company has a market cap of $2.93 billion and a PE ratio of 193.27. The stock’s fifty day moving average price is $25.75 and its two-hundred day moving average price is $27.46.

Neptune Insurance (NYSE:NP) last issued its earnings results on Wednesday, February 18th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.10 by $0.01. The business had revenue of $43.77 million for the quarter, compared to analyst estimates of $39.42 million.

Institutional Investors Weigh In On Neptune Insurance

Institutional investors and hedge funds have recently made changes to their positions in the business. Bregal Sagemount IV General Partner Jersey Ltd purchased a new stake in Neptune Insurance in the fourth quarter valued at approximately $569,509,000. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Neptune Insurance during the fourth quarter valued at approximately $133,488,000. Vanguard Group Inc. bought a new stake in Neptune Insurance in the 4th quarter worth $47,063,000. Capital World Investors bought a new stake in shares of Neptune Insurance in the fourth quarter worth about $32,091,000. Finally, Balyasny Asset Management L.P. bought a new stake in shares of Neptune Insurance in the 4th quarter worth approximately $29,051,000.

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.