Wells Fargo & Company Forecasts Strong Price Appreciation for Neptune Insurance (NYSE:NP) Stock

Neptune Insurance (NYSE:NPGet Free Report) had its price objective raised by equities researchers at Wells Fargo & Company from $35.00 to $37.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 25.31% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $33.00 price target on shares of Neptune Insurance in a research report on Wednesday. Evercore reaffirmed an “outperform” rating and set a $36.00 price target on shares of Neptune Insurance in a research note on Wednesday. Weiss Ratings reissued a “sell (d)” rating on shares of Neptune Insurance in a research note on Friday, July 17th. Bank of America increased their price objective on Neptune Insurance from $23.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, April 14th. Finally, Mizuho lifted their target price on Neptune Insurance from $29.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Eight research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $30.54.

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Neptune Insurance Stock Down 1.6%

Shares of Neptune Insurance stock opened at $29.53 on Thursday. Neptune Insurance has a 12-month low of $14.78 and a 12-month high of $34.61. The business’s 50 day moving average is $29.03 and its 200-day moving average is $25.94. The stock has a market cap of $4.08 billion and a P/E ratio of 116.68.

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

Insiders Place Their Bets

In related news, major shareholder Hold 101 Lp Bsiv sold 688,403 shares of the business’s stock in a transaction on 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 transaction, the insider owned 14,252,718 shares in the company, valued at $376,271,755.20. The trade was a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Vii L.P. Ftv sold 787,806 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $26.40, for a total transaction of $20,798,078.40. Following the sale, the insider directly owned 16,310,781 shares in the company, valued at $430,604,618.40. This trade represents a 4.61% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 11,317,604 shares of company stock worth $298,784,746. Insiders own 74.26% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bregal Sagemount IV General Partner Jersey Ltd bought a new stake in shares of Neptune Insurance during the 4th quarter valued at about $569,509,000. T. Rowe Price Investment Management Inc. bought a new stake in Neptune Insurance in the fourth quarter worth approximately $133,488,000. Vanguard Group Inc. acquired a new position in Neptune Insurance in the fourth quarter valued at approximately $47,063,000. Capital World Investors acquired a new position in Neptune Insurance in the fourth quarter valued at approximately $32,091,000. Finally, Balyasny Asset Management L.P. bought a new position in shares of Neptune Insurance during the 4th quarter worth approximately $29,051,000.

About Neptune Insurance

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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.

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