Neptune Insurance (NYSE:NP) Stock Price Target Cut by Mizuho

Key Points

• Mizuho lowered Neptune Insurance’s price target from $33 to $31 while keeping a neutral rating; the new target implies about 10.3% upside from the recent share price.
• Neptune reported quarterly EPS of $0.17, topping the $0.16 consensus, and revenue of $59.57 million, above estimates of $56.59 million. Analysts’ average rating is “Moderate Buy,” with an average price target of $32.12.
• Company insiders sold a combined 795,722 shares worth about $22.6 million over the past 90 days; the CEO’s sale was made under a pre-arranged trading plan.

Neptune Insurance (NYSE:NP - Get Free Report) had its price objective decreased by research analysts at Mizuho from $33.00 to $31.00 in a research note issued on Friday, Benzinga reports. The firm presently has a "neutral" rating on the stock. Mizuho's price objective would indicate a potential upside of 10.34% from the stock's current price.

NP has been the topic of a number of other reports. Deutsche Bank reissued a "buy" rating on shares of Neptune Insurance in a report on Wednesday, September 23rd. Weiss Ratings raised shares of Neptune Insurance from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, October 23rd. BMO Capital Markets downgraded Neptune Insurance from an "outperform" rating to a "market perform" rating and set a $32.00 price objective for the company. in a report on Thursday, July 30th. Keefe, Bruyette & Woods lifted their target price on Neptune Insurance from $32.00 to $33.00 and gave the stock a "market perform" rating in a report on Wednesday, October 21st. Finally, Piper Sandler restated an "overweight" rating on shares of Neptune Insurance in a report on Monday, October 19th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $32.12.

Neptune Insurance Stock Performance

Shares of Neptune Insurance stock traded down $0.46 during midday trading on Friday, hitting $28.09. 55,537 shares of the company traded hands, compared to its average volume of 594,598. Neptune Insurance has a 12 month low of $14.78 and a 12 month high of $35.15. The stock has a market cap of $3.88 billion and a price-to-earnings ratio of 87.82. The firm's fifty day moving average price is $29.06 and its 200-day moving average price is $27.61.

Neptune Insurance (NYSE:NP - Get Free Report) last posted its earnings results on Tuesday, October 20th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01. The firm had revenue of $59.57 million during the quarter, compared to the consensus estimate of $56.59 million. Neptune Insurance had a negative return on equity of 26.63% and a net margin of 22.71%. Equities research analysts forecast that Neptune Insurance will post 0.41 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Jonathan Carlon sold 50,000 shares of the stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $31.15, for a total transaction of $1,557,500.00. Following the transaction, the director owned 603,500 shares of the company's stock, valued at $18,799,025. This represents a 7.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Trevor R. Burgess sold 104,717 shares of the firm's stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $27.75, for a total value of $2,905,896.75. Following the completion of the sale, the chief executive officer owned 1,973,519 shares of the company's stock, valued at approximately $54,765,152.25. This represents a 5.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 795,722 shares of company stock valued at $22,608,359 over the last ninety days. 74.26% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Neptune Insurance

A number of hedge funds have recently added to or reduced their stakes in NP. Nisa Investment Advisors LLC lifted its holdings in shares of Neptune Insurance by 41.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,727 shares of the company's stock worth $47,000 after purchasing an additional 503 shares in the last quarter. State of Wyoming grew its holdings in shares of Neptune Insurance by 80.7% during the third quarter. State of Wyoming now owns 5,026 shares of the company's stock valued at $137,000 after buying an additional 2,244 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Neptune Insurance by 73.3% during the first quarter. PNC Financial Services Group Inc. now owns 7,440 shares of the company's stock valued at $180,000 after buying an additional 3,146 shares during the last quarter. Grandeur Peak Global Advisors LLC increased its position in shares of Neptune Insurance by 22.0% during the second quarter. Grandeur Peak Global Advisors LLC now owns 18,512 shares of the company's stock worth $583,000 after acquiring an additional 3,339 shares in the last quarter. Finally, State of Alaska Department of Revenue bought a new stake in shares of Neptune Insurance during the third quarter worth about $105,000.

About Neptune Insurance

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.

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