Neptune Insurance (NYSE:NP) Price Target Lowered to $33.00 at Keefe, Bruyette & Woods

Neptune Insurance (NYSE:NP) had its price objective decreased by Keefe, Bruyette & Woods from $34.00 to $33.00 in a research note issued to investors on Friday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

Several other research firms also recently weighed in on NP. Piper Sandler lifted their target price on shares of Neptune Insurance from $30.00 to $39.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. JPMorgan Chase & Co. raised their price objective on shares of Neptune Insurance from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Mizuho lifted their price objective on shares of Neptune Insurance from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Raymond James Financial reissued an “outperform” rating on shares of Neptune Insurance in a report on Monday, April 27th. Finally, Bank of America increased their target price on Neptune Insurance from $23.00 to $26.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 14th. Eight research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $30.61.

Neptune Insurance Price Performance

Shares of NYSE NP opened at $30.29 on Friday. The stock has a market capitalization of $4.19 billion and a PE ratio of 121.14. Neptune Insurance has a one year low of $14.78 and a one year high of $34.61. The business’s fifty day moving average price is $29.13 and its 200-day moving average price is $25.98.

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

Insider Buying and Selling at Neptune Insurance

In other Neptune Insurance news, major shareholder Vii L.P. Ftv sold 787,806 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $26.40, for a total transaction of $20,798,078.40. Following the completion of the sale, the insider owned 16,310,781 shares of the company’s stock, valued at approximately $430,604,618.40. The trade was a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Hold 101 Lp Bsiv sold 688,403 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $26.40, for a total transaction of $18,173,839.20. Following the completion of the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 11,317,604 shares of company stock valued at $298,784,746 over the last 90 days. 74.26% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Neptune Insurance

Hedge funds have recently modified their holdings of the stock. Bregal Sagemount IV General Partner Jersey Ltd purchased a new stake in Neptune Insurance in the 4th quarter worth $569,509,000. T. Rowe Price Investment Management Inc. purchased a new position in Neptune Insurance during the 4th quarter valued at approximately $133,488,000. Vanguard Group Inc. bought a new stake in Neptune Insurance in the 4th quarter worth approximately $47,063,000. Capital World Investors purchased a new stake in shares of Neptune Insurance during the 4th quarter worth approximately $32,091,000. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of Neptune Insurance during the 4th quarter worth approximately $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.