Neptune Insurance (NYSE:NP) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Neptune Insurance (NYSE:NP) had its price objective hoisted by investment analysts at Wells Fargo & Company from $35.00 to $37.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 22.17% from the company’s current price.

Several other analysts have also recently weighed in on NP. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $34.00 price target (up from $32.00) on shares of Neptune Insurance in a report on Wednesday, July 8th. Evercore reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Neptune Insurance in a report on Wednesday. Bank of America raised their price target on shares of Neptune Insurance from $23.00 to $26.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 14th. Raymond James Financial restated an “outperform” rating on shares of Neptune Insurance in a research report on Monday, April 27th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Neptune Insurance in a report on Friday, July 17th. Eight equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Neptune Insurance presently has an average rating of “Hold” and an average price target of $30.61.

Neptune Insurance Price Performance

NP stock opened at $30.29 on Thursday. Neptune Insurance has a one year low of $14.78 and a one year high of $34.61. The stock has a market cap of $4.19 billion and a price-to-earnings ratio of 121.14. The company has a fifty day moving average price of $29.13 and a two-hundred day moving average price of $25.98.

Neptune Insurance (NYSE:NP) last issued its quarterly earnings data on Tuesday, July 21st. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.01. The company had revenue of $55.87 million for the quarter, compared to analyst estimates of $52.38 million. Neptune Insurance had a net margin of 21.45% and a negative return on equity of 18.77%. Research analysts anticipate that Neptune Insurance will post 0.4 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Hold 101 Lp Bsiv sold 4,589,351 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 $121,158,866.40. Following the completion of the transaction, the insider directly owned 14,941,121 shares in the company, valued at approximately $394,445,594.40. The trade was a 23.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 transaction of $138,653,961.60. Following the transaction, the insider owned 17,098,587 shares of the company’s stock, valued at approximately $451,402,696.80. This represents a 23.50% decrease in their ownership of the stock. 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 worth $298,784,746. Insiders own 74.26% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Bregal Sagemount IV General Partner Jersey Ltd bought a new stake in shares of Neptune Insurance during the 4th quarter valued at approximately $569,509,000. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Neptune Insurance during the 4th quarter valued at $133,488,000. Vanguard Group Inc. acquired a new position in Neptune Insurance in the 4th quarter worth about $47,063,000. Capital World Investors bought a new position in Neptune Insurance in the fourth quarter valued at about $32,091,000. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Neptune Insurance during the fourth quarter valued at about $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.