Neptune Insurance (NYSE:NP) Upgraded to “Strong-Buy” at Wells Fargo & Company

Neptune Insurance (NYSE:NP) was upgraded by equities research analysts at Wells Fargo & Company to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

NP has been the subject of a number of other reports. Mizuho upped their price objective on shares of Neptune Insurance from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Monday, April 13th. Weiss Ratings restated a “sell (d)” rating on shares of Neptune Insurance in a report on Monday, April 20th. Evercore reaffirmed an “outperform” rating on shares of Neptune Insurance in a research report on Friday, May 8th. Raymond James Financial reiterated an “outperform” rating on shares of Neptune Insurance in a research note on Monday, April 27th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Neptune Insurance from $28.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $28.25.

Neptune Insurance Stock Up 8.0%

Shares of NYSE:NP opened at $34.02 on Tuesday. Neptune Insurance has a 52-week low of $14.78 and a 52-week high of $34.15. The stock has a market cap of $4.71 billion and a P/E ratio of 126.01. The business’s 50 day moving average is $27.69 and its 200 day moving average is $25.67.

Neptune Insurance (NYSE:NP) last issued its earnings results on Wednesday, April 22nd. The company reported $0.09 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.09. The firm had revenue of $37.80 million for the quarter, compared to the consensus estimate of $36.96 million. The firm’s revenue was up 28.8% on a year-over-year basis. On average, sell-side 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 firm’s 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 sale, the insider directly owned 14,941,121 shares in the company, valued at approximately $394,445,594.40. This trade represents a 23.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Vii L.P. Ftv sold 5,252,044 shares of Neptune Insurance 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 directly owned 17,098,587 shares in the company, valued at approximately $451,402,696.80. The trade was a 23.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 11,317,604 shares of company stock worth $298,784,746 in the last quarter. 74.26% of the stock is owned by insiders.

Institutional Investors Weigh In On Neptune Insurance

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN acquired a new stake in Neptune Insurance in the fourth quarter valued at approximately $28,000. PNC Financial Services Group Inc. purchased a new stake in shares of Neptune Insurance during the 4th quarter valued at $125,000. FNY Investment Advisers LLC acquired a new stake in shares of Neptune Insurance in the 3rd quarter worth $171,000. Symmetry Investments LP acquired a new stake in shares of Neptune Insurance in the 4th quarter worth $204,000. Finally, FJ Capital Management LLC purchased a new position in Neptune Insurance during the 4th quarter worth $289,000.

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.