Neptune Insurance (NYSE:NP) Raised to “Neutral” at Mizuho

Neptune Insurance (NYSE:NP) was upgraded by analysts at Mizuho from an “underperform” rating to a “neutral” rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The firm presently has a $24.00 price objective on the stock, down from their previous price objective of $26.00. Mizuho’s target price suggests a potential upside of 12.04% from the company’s current price.

Several other equities analysts have also recently issued reports on the company. Evercore set a $30.00 price objective on Neptune Insurance in a research report on Thursday, February 19th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $32.50 price target on shares of Neptune Insurance in a report on Wednesday, January 7th. Bank of America raised Neptune Insurance from an “underperform” rating to a “neutral” rating and set a $23.00 price objective on the stock in a research report on Friday, February 20th. Keefe, Bruyette & Woods raised Neptune Insurance from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $26.00 to $25.00 in a research report on Thursday, February 19th. Finally, Zacks Research upgraded shares of Neptune Insurance to a “hold” rating in a research note on Tuesday, October 28th. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Neptune Insurance has an average rating of “Moderate Buy” and a consensus target price of $26.65.

Neptune Insurance Price Performance

Shares of Neptune Insurance stock opened at $21.42 on Wednesday. The stock has a market cap of $2.96 billion and a price-to-earnings ratio of 194.73. Neptune Insurance has a 1 year low of $14.78 and a 1 year high of $33.23. The firm’s 50-day moving average is $25.14 and its 200 day moving average is $27.22.

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

Insider Activity

In related news, Director Michael Warren Vostrizansky acquired 23,000 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The stock was purchased at an average cost of $21.50 per share, with a total value of $494,500.00. Following the transaction, the director directly owned 23,000 shares of the company’s stock, valued at $494,500. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.63% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Neptune Insurance

Hedge funds and other institutional investors have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. acquired a new stake in Neptune Insurance during the 4th quarter valued at approximately $133,488,000. XTX Topco Ltd purchased a new position in shares of Neptune Insurance during the fourth quarter worth $361,000. Zimmer Partners LP acquired a new position in Neptune Insurance during the fourth quarter valued at $3,645,000. Symmetry Investments LP purchased a new stake in Neptune Insurance in the fourth quarter valued at $204,000. Finally, Readystate Asset Management LP acquired a new stake in Neptune Insurance during the 4th quarter worth about $1,448,000.

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.