Mizuho Forecasts Strong Price Appreciation for Neptune Insurance (NYSE:NP) Stock

Neptune Insurance (NYSE:NP) had its price objective increased by stock analysts at Mizuho from $29.00 to $32.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Mizuho’s target price points to a potential upside of 0.47% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Bank of America raised their target price on shares of Neptune Insurance from $23.00 to $26.00 and gave the stock a “neutral” rating in a report on Tuesday, April 14th. Wells Fargo & Company initiated coverage on Neptune Insurance in a research report on Tuesday, June 30th. They set an “overweight” rating and a $35.00 target price on the stock. Raymond James Financial reiterated an “outperform” rating on shares of Neptune Insurance in a report on Monday, April 27th. Morgan Stanley increased their target price on shares of Neptune Insurance from $26.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Neptune Insurance in a research note on Monday, April 20th. Eight investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $28.82.

Neptune Insurance Stock Performance

NYSE NP opened at $31.85 on Thursday. Neptune Insurance has a one year low of $14.78 and a one year high of $34.61. The company has a market capitalization of $4.41 billion and a price-to-earnings ratio of 117.97. The company’s 50-day simple moving average is $28.50 and its two-hundred day simple moving average is $25.90.

Neptune Insurance (NYSE:NP) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $0.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.09. The business had revenue of $37.80 million for the quarter, compared to the consensus estimate of $36.96 million. The company’s revenue was up 28.8% compared to the same quarter last year. Equities analysts expect that Neptune Insurance will post 0.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Neptune Insurance news, major shareholder Vii L.P. Ftv sold 787,806 shares of Neptune Insurance 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 directly owned 16,310,781 shares of the company’s stock, valued at $430,604,618.40. The trade was a 4.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Hold 101 Lp Bsiv sold 688,403 shares of the business’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $26.40, for a total value 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 $376,271,755.20. The trade was a 4.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 11,317,604 shares of company stock worth $298,784,746 over the last 90 days. Insiders own 74.26% of the company’s stock.

Institutional Trading of Neptune Insurance

A number of hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN acquired a new position in shares of Neptune Insurance in the fourth quarter valued at approximately $28,000. PNC Financial Services Group Inc. acquired a new position in shares of Neptune Insurance during the fourth quarter worth about $125,000. FNY Investment Advisers LLC purchased a new position in Neptune Insurance during the third quarter worth about $171,000. Symmetry Investments LP acquired a new stake in Neptune Insurance in the fourth quarter valued at about $204,000. Finally, FJ Capital Management LLC acquired a new stake in Neptune Insurance in the fourth quarter valued at about $289,000.

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.