Neptune Insurance Holdings Inc. (NYSE:NP) Receives Consensus Rating of “Moderate Buy” from Brokerages
by Mitch Edgeman · The Markets DailyNeptune Insurance Holdings Inc. (NYSE:NP – Get Free Report) has received a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $26.50.
Several research firms have weighed in on NP. Evercore set a $30.00 target price on Neptune Insurance in a research note on Thursday, February 19th. BMO Capital Markets upgraded shares of Neptune Insurance from a “market perform” rating to an “outperform” rating and decreased their price target for the stock from $25.00 to $20.00 in a report on Friday, February 13th. Piper Sandler lowered their price objective on shares of Neptune Insurance from $33.00 to $30.00 and set an “overweight” rating on the stock in a research report on Thursday, February 19th. Raymond James Financial set a $24.00 price objective on shares of Neptune Insurance in a research note on Monday, February 23rd. Finally, Morgan Stanley cut their target price on shares of Neptune Insurance from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 4th.
Check Out Our Latest Report on NP
Insider Buying and Selling at Neptune Insurance
In other news, CEO Trevor R. Burgess bought 50,000 shares of the company’s stock in a transaction on Friday, March 13th. The shares were bought at an average cost of $18.71 per share, with a total value of $935,500.00. Following the transaction, the chief executive officer directly owned 2,082,964 shares in the company, valued at approximately $38,972,256.44. This trade represents a 2.46% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Warren Vostrizansky purchased 23,000 shares of the business’s stock in a transaction dated Friday, February 20th. The shares were purchased at an average cost of $21.50 per share, with a total value of $494,500.00. Following the completion of the purchase, the director directly owned 23,000 shares in the company, valued at approximately $494,500. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.
Institutional Investors Weigh In On Neptune Insurance
Several large investors have recently made changes to their positions in NP. Wells Fargo & Company MN bought a new position in Neptune Insurance during the fourth quarter valued at approximately $28,000. PNC Financial Services Group Inc. bought a new stake in Neptune Insurance in the fourth quarter worth approximately $125,000. FNY Investment Advisers LLC bought a new stake in Neptune Insurance in the third quarter worth approximately $171,000. Symmetry Investments LP acquired a new position in shares of Neptune Insurance during the 4th quarter worth $204,000. Finally, FJ Capital Management LLC bought a new position in shares of Neptune Insurance during the 4th quarter valued at $289,000.
Neptune Insurance Stock Up 2.1%
NP opened at $23.52 on Thursday. The firm has a market capitalization of $3.25 billion and a P/E ratio of 106.91. The stock has a fifty day moving average of $22.20 and a 200-day moving average of $25.54. Neptune Insurance has a 12-month low of $14.78 and a 12-month high of $33.23.
Neptune Insurance (NYSE:NP – Get Free Report) last posted its quarterly earnings results on Wednesday, February 18th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.01. The business had revenue of $43.77 million for the quarter, compared to analyst estimates of $39.42 million.
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.