Mizuho Issues Positive Forecast for Neptune Insurance (NYSE:NP) Stock Price

Neptune Insurance (NYSE:NP) had its price target lifted by Mizuho from $29.00 to $32.00 in a report issued on Thursday,Benzinga reports. Mizuho currently has a neutral rating on the stock.

A number of other analysts also recently issued reports on the stock. Bank of America upped their target price 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. Morgan Stanley boosted their price objective 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. Wells Fargo & Company assumed coverage on Neptune Insurance in a research note on Tuesday, June 30th. They set an “overweight” rating and a $35.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Neptune Insurance in a research note on Monday, April 20th. Eight 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $28.82.

Neptune Insurance Stock Up 2.7%

NP opened at $32.36 on Thursday. Neptune Insurance has a twelve month low of $14.78 and a twelve month high of $34.61. The company’s 50-day moving average price is $28.38 and its two-hundred day moving average price is $25.86. The stock has a market cap of $4.48 billion and a price-to-earnings ratio of 119.84.

Neptune Insurance (NYSE:NP) last announced 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 firm had revenue of $37.80 million during the quarter, compared to analysts’ expectations of $36.96 million. Neptune Insurance’s quarterly revenue was up 28.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Neptune Insurance will post 0.4 earnings per share for the current year.

Insider Buying and Selling at Neptune Insurance

In other Neptune Insurance news, major shareholder Hold 101 Lp Bsiv sold 4,589,351 shares of Neptune Insurance stock in a transaction dated 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 of the company’s stock, valued at approximately $394,445,594.40. The trade was a 23.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Vii L.P. Ftv sold 5,252,044 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $26.40, for a total transaction of $138,653,961.60. Following the completion of the transaction, the insider owned 17,098,587 shares in the company, valued at approximately $451,402,696.80. This represents a 23.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 11,317,604 shares of company stock valued at $298,784,746 over the last 90 days. Corporate insiders own 74.26% of the company’s stock.

Institutional Trading of Neptune Insurance

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

About Neptune Insurance

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.