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

Neptune Insurance (NYSE:NP) had its target price trimmed by Keefe, Bruyette & Woods from $34.00 to $33.00 in a research note published on Friday,Benzinga reports. The firm currently has a market perform rating on the stock.

A number of other equities analysts also recently commented on NP. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Neptune Insurance in a report on Friday, July 17th. Mizuho increased their target price on shares of Neptune Insurance from $29.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Wells Fargo & Company raised their price target on shares of Neptune Insurance from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday. Raymond James Financial reaffirmed an “outperform” rating on shares of Neptune Insurance in a report on Monday, April 27th. Finally, Morgan Stanley set a $31.00 price objective on shares of Neptune Insurance in a research report on Thursday. Eight 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.com, the stock presently has an average rating of “Hold” and a consensus target price of $30.61.

Neptune Insurance Trading Up 0.1%

Shares of NP opened at $30.29 on Friday. The firm has a market cap of $4.19 billion and a price-to-earnings ratio of 121.14. The stock has a 50 day moving average of $29.13 and a 200-day moving average of $25.96. Neptune Insurance has a 52 week low of $14.78 and a 52 week high of $34.61.

Neptune Insurance (NYSE:NP) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $55.87 million during the quarter, compared to the consensus estimate of $52.38 million. On average, sell-side analysts predict that Neptune Insurance will post 0.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Neptune Insurance news, major shareholder Hold 101 Lp Bsiv sold 4,589,351 shares of the stock in a transaction on Friday, May 15th. The stock was 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 of the company’s stock, valued at $394,445,594.40. This trade represents a 23.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Vii L.P. Ftv sold 5,252,044 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $26.40, for a total transaction of $138,653,961.60. Following the completion of the sale, the insider owned 17,098,587 shares in the company, valued at $451,402,696.80. The trade was a 23.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 11,317,604 shares of company stock valued at $298,784,746. 74.26% of the stock is owned by company insiders.

Institutional Trading of Neptune Insurance

Hedge funds and other institutional investors have recently modified their holdings of the company. Comerica Bank acquired a new stake in Neptune Insurance in the 4th quarter valued at about $1,507,000. Vanguard Group Inc. acquired a new position in shares of Neptune Insurance in the 4th quarter worth approximately $47,063,000. Bregal Sagemount IV General Partner Jersey Ltd bought a new stake in shares of Neptune Insurance in the 4th quarter worth approximately $569,509,000. Capital World Investors acquired a new stake in Neptune Insurance during the fourth quarter valued at approximately $32,091,000. Finally, Azora Capital LP acquired a new stake in Neptune Insurance during the fourth quarter valued at approximately $21,695,000.

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.