Mizuho Issues Pessimistic Forecast for Neptune Insurance (NYSE:NP) Stock Price

Neptune Insurance (NYSE:NP) had its target price reduced by Mizuho from $33.00 to $31.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Mizuho‘s price target would indicate a potential upside of 10.34% from the stock’s previous close.

Several other equities research analysts also recently commented on the stock. Wells Fargo & Company dropped their price objective on shares of Neptune Insurance from $37.00 to $34.00 and set an “overweight” rating on the stock in a report on Monday, October 12th. Piper Sandler reissued an “overweight” rating on shares of Neptune Insurance in a report on Monday, October 19th. Evercore reaffirmed an “outperform” rating and issued a $36.00 target price on shares of Neptune Insurance in a research note on Wednesday, July 22nd. BMO Capital Markets lowered Neptune Insurance from an “outperform” rating to a “market perform” rating and set a $32.00 target price for the company. in a research note on Thursday, July 30th. Finally, Morgan Stanley dropped their target price on shares of Neptune Insurance from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, October 22nd. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Neptune Insurance currently has a consensus rating of “Moderate Buy” and an average price target of $32.12.

Neptune Insurance Stock Down 1.6%

Neptune Insurance stock traded down $0.46 during mid-day trading on Friday, reaching $28.09. 55,537 shares of the company’s stock were exchanged, compared to its average volume of 594,598. The business’s fifty day simple moving average is $29.06 and its 200 day simple moving average is $27.61. Neptune Insurance has a one year low of $14.78 and a one year high of $35.15. The firm has a market capitalization of $3.88 billion and a PE ratio of 87.82.

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

Insider Activity at Neptune Insurance

In other Neptune Insurance news, insider Matthew Duffy sold 86,000 shares of Neptune Insurance stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $28.04, for a total value of $2,411,440.00. Following the completion of the sale, the insider owned 1,705,798 shares of the company’s stock, valued at approximately $47,830,575.92. The trade was a 4.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Trevor Burgess sold 4,431 shares of the business’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $27.63, for a total transaction of $122,428.53. Following the sale, the chief executive officer owned 1,902,520 shares of the company’s stock, valued at $52,566,627.60. This trade represents a 0.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 795,722 shares of company stock worth $22,608,359 in the last 90 days. 74.26% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Neptune Insurance

Institutional investors and hedge funds have recently bought and sold shares of the business. Public Sector Pension Investment Board purchased a new position in Neptune Insurance in the 3rd quarter worth approximately $6,017,000. USS Investment Management Ltd lifted its position in shares of Neptune Insurance by 152.0% during the third quarter. USS Investment Management Ltd now owns 311,686 shares of the company’s stock worth $8,523,000 after purchasing an additional 187,996 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Neptune Insurance by 874.4% in the first quarter. Renaissance Technologies LLC now owns 160,703 shares of the company’s stock worth $3,887,000 after purchasing an additional 144,210 shares during the last quarter. Fifth Third Bancorp bought a new position in Neptune Insurance in the 1st quarter worth about $1,531,000. Finally, Swiss National Bank bought a new position in Neptune Insurance in the 1st quarter worth about $1,132,000.

Neptune Insurance Company Profile

Neptune Insurance is a technology-enabled provider of private flood insurance. Founded in 2016, the company uses data analytics and risk modeling to assess flood exposure and support policy underwriting and distribution. Its products include flood coverage for residential and commercial properties, with options for protection of buildings and contents. Neptune distributes its policies through a network of insurance agents and serves customers across the United States. Founder Trevor Burgess has served as the company’s chief executive officer.