Neptune Insurance (NYSE:NP) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Neptune Insurance (NYSE:NP) had its target price boosted by analysts at Morgan Stanley from $26.00 to $29.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 5.41% from the stock’s current price.

A number of other research analysts have also recently weighed in on the stock. Mizuho lifted their price objective on shares of Neptune Insurance from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Monday, April 13th. Evercore reiterated an “outperform” rating on shares of Neptune Insurance in a report on Friday, May 8th. Piper Sandler decreased their price target on shares of Neptune Insurance from $33.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. Weiss Ratings restated a “sell (d)” rating on shares of Neptune Insurance in a research note on Monday, April 20th. Finally, BMO Capital Markets raised Neptune Insurance from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from $25.00 to $20.00 in a research report on Friday, February 13th. Eight investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $27.73.

Neptune Insurance Stock Down 1.0%

Shares of NYSE NP opened at $27.51 on Thursday. The business’s 50 day moving average is $25.28 and its two-hundred day moving average is $25.01. Neptune Insurance has a 52-week low of $14.78 and a 52-week high of $33.23. The firm has a market cap of $3.81 billion and a price-to-earnings ratio of 101.89.

Neptune Insurance (NYSE:NP) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. The firm had revenue of $37.80 million for the quarter, compared to analysts’ expectations of $36.96 million. The business’s quarterly revenue was up 28.8% compared to the same quarter last year. Analysts anticipate that Neptune Insurance will post 0.39 EPS for the current fiscal year.

Insider Activity

In other news, CEO Trevor R. Burgess acquired 50,000 shares of Neptune Insurance stock in a transaction dated Friday, March 13th. The shares were acquired at an average cost of $18.71 per share, for a total transaction of $935,500.00. Following the acquisition, the chief executive officer owned 2,082,964 shares of the company’s stock, valued at $38,972,256.44. This trade represents a 2.46% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Vii L.P. Ftv sold 5,252,044 shares of Neptune Insurance stock in a transaction 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 sale, the insider directly owned 17,098,587 shares of the company’s stock, valued at approximately $451,402,696.80. This trade represents a 23.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 11,317,604 shares of company stock worth $298,784,746 over the last three months. Insiders own 74.26% of the company’s stock.

Institutional Trading of Neptune Insurance

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE lifted its holdings in Neptune Insurance by 562.1% during the 1st quarter. Bank of America Corp DE now owns 37,496 shares of the company’s stock worth $907,000 after buying an additional 31,833 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Neptune Insurance during the 1st quarter worth about $313,000. California State Teachers Retirement System acquired a new stake in shares of Neptune Insurance during the 1st quarter worth about $523,000. SummitTX Capital L.P. purchased a new stake in Neptune Insurance during the first quarter worth approximately $898,000. Finally, Renaissance Technologies LLC boosted its holdings in Neptune Insurance by 874.4% in the first quarter. Renaissance Technologies LLC now owns 160,703 shares of the company’s stock valued at $3,887,000 after purchasing an additional 144,210 shares in the last quarter.

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.