Neptune Insurance (NYSE:NP) Given New $37.00 Price Target at Wells Fargo & Company

Neptune Insurance (NYSE:NP) had its price target increased by equities researchers at Wells Fargo & Company from $35.00 to $37.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 25.31% from the stock’s current price.

A number of other equities analysts also recently weighed in on the stock. Mizuho boosted their target price on shares of Neptune Insurance from $29.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Morgan Stanley raised their price target on shares of Neptune Insurance from $26.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, May 21st. JPMorgan Chase & Co. upped their price objective on Neptune Insurance from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $33.00 price objective on shares of Neptune Insurance in a research report on Wednesday. Finally, Bank of America lifted their target price on Neptune Insurance from $23.00 to $26.00 and gave the company a “neutral” rating in a research note on Tuesday, April 14th. Eight equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Neptune Insurance presently has a consensus rating of “Hold” and an average target price of $30.54.

Neptune Insurance Stock Performance

Shares of NYSE:NP opened at $29.53 on Thursday. The business has a fifty day moving average of $29.03 and a 200-day moving average of $25.94. Neptune Insurance has a twelve month low of $14.78 and a twelve month high of $34.61. The firm has a market cap of $4.08 billion and a PE ratio of 116.68.

Neptune Insurance (NYSE:NP) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.01. Neptune Insurance had a net margin of 21.45% and a negative return on equity of 17.37%. The business had revenue of $55.87 million for the quarter, compared to the consensus estimate of $52.38 million. On average, analysts anticipate that Neptune Insurance will post 0.4 EPS for the current fiscal year.

Insider Activity at Neptune Insurance

In other Neptune Insurance news, major shareholder Vii L.P. Ftv sold 787,806 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $26.40, for a total value of $20,798,078.40. Following the transaction, the insider owned 16,310,781 shares of the company’s stock, valued at approximately $430,604,618.40. This represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Hold 101 Lp Bsiv sold 688,403 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $26.40, for a total value of $18,173,839.20. Following the transaction, the insider owned 14,252,718 shares of the company’s stock, valued at approximately $376,271,755.20. This trade represents a 4.61% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 11,317,604 shares of company stock valued at $298,784,746. 74.26% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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