Neptune Insurance (NYSE:NP) Price Target Raised to $33.00

Neptune Insurance (NYSE:NP) had its target price raised by Mizuho from $31.00 to $33.00 in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. Mizuho currently has a neutral rating on the stock.

NP has been the subject of several other research reports. Weiss Ratings cut Neptune Insurance from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, October 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Neptune Insurance in a report on Wednesday, September 23rd. Keefe, Bruyette & Woods dropped their price target on Neptune Insurance from $34.00 to $33.00 and set a “market perform” rating on the stock in a research report on Friday, July 24th. Wells Fargo & Company dropped their price target on Neptune Insurance from $37.00 to $34.00 and set an “overweight” rating on the stock in a research report on Monday, October 12th. Finally, Evercore reiterated an “outperform” rating and set a $36.00 price target on shares of Neptune Insurance in a report on Wednesday, July 22nd. Eight research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, Neptune Insurance has an average rating of “Moderate Buy” and an average target price of $31.61.

Neptune Insurance Price Performance

Neptune Insurance stock opened at $28.40 on Wednesday. Neptune Insurance has a fifty-two week low of $14.78 and a fifty-two week high of $35.15. The firm has a fifty day moving average price of $30.30 and a two-hundred day moving average price of $29.41. The firm has a market cap of $3.90 billion and a price-to-earnings ratio of 70.05.

Neptune Insurance (NYSE:NP) last issued its quarterly earnings results on Tuesday, October 20th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.01. The company had revenue of $59.57 million for the quarter, compared to the consensus estimate of $56.59 million. Neptune Insurance had a negative return on equity of 26.63% and a net margin of 22.71%. As a group, sell-side analysts expect that Neptune Insurance will post 0.41 earnings per share for the current year.

Insider Buying and Selling at Neptune Insurance

In related news, Director Jonathan Carlon sold 50,000 shares of the stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $31.15, for a total value of $1,557,500.00. Following the completion of the sale, the director owned 603,500 shares in the company, valued at approximately $18,799,025. This trade represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Matthew Duffy sold 84,441 shares of the stock in a transaction dated Thursday, October 8th. The shares were sold at an average price of $28.10, for a total transaction of $2,372,792.10. Following the completion of the sale, the insider owned 1,879,798 shares of the company’s stock, valued at approximately $52,822,323.80. The trade was a 4.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 3,815,570 shares of company stock valued at $125,567,525 in the last three months. Company insiders own 74.26% of the company’s stock.

Institutional Trading of Neptune Insurance

Hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC raised its stake in shares of Neptune Insurance by 41.1% in the third quarter. Nisa Investment Advisors LLC now owns 1,727 shares of the company’s stock valued at $47,000 after purchasing an additional 503 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in Neptune Insurance during the third quarter worth $105,000. BlueCrest Capital Management Ltd acquired a new stake in Neptune Insurance during the second quarter worth $1,418,000. Arizona State Retirement System acquired a new stake in Neptune Insurance during the second quarter worth $329,000. Finally, AXQ Capital LP bought a new stake in Neptune Insurance in the 2nd quarter valued at $296,000.

About Neptune Insurance

Neptune Insurance is a technology-enabled insurance company focused primarily on flood coverage for residential and commercial policyholders. Its platform is designed to streamline the insurance process, including quoting, underwriting and policy management, while providing coverage tailored to properties that may face flood-related risks.

The company offers flood insurance products for homeowners, renters, landlords and businesses. Its offerings are intended to complement or provide an alternative to coverage available through traditional government and private-market flood insurance programs, depending on the policyholder’s location and eligibility.

Neptune’s business is primarily focused on the United States, where flood risk varies significantly by geography and many properties are outside federally designated high-risk areas.