Keefe, Bruyette & Woods Has Lowered Expectations for Neptune Insurance (NYSE:NP) Stock Price

Key Points

• Keefe, Bruyette & Woods cut Neptune Insurance’s price target from $34 to $33 while keeping a “market perform” rating, implying about 7.65% upside from the prior close.
• Recent analyst opinions are mixed: Piper Sandler and Evercore are bullish, while Mizuho and JPMorgan are more cautious; overall, the stock has a consensus Hold rating and a $30.61 target.
• Neptune Insurance posted better-than-expected quarterly results, with EPS of $0.15 vs. $0.14 expected and revenue of $55.87 million vs. $52.38 million expected, even as insiders sold a large amount of shares in recent months.

Neptune Insurance (NYSE:NP - Get Free Report) had its target price cut by research analysts at Keefe, Bruyette & Woods from $34.00 to $33.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' target price would suggest a potential upside of 7.65% from the stock's previous close.

Several other research firms have also recently commented on NP. Piper Sandler raised their target price on shares of Neptune Insurance from $30.00 to $39.00 and gave the company an "overweight" rating in a research note on Wednesday, July 15th. Mizuho raised their price objective on shares of Neptune Insurance from $29.00 to $32.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. Raymond James Financial reissued an "outperform" rating on shares of Neptune Insurance in a report on Monday, April 27th. JPMorgan Chase & Co. upped their target price on Neptune Insurance from $26.00 to $30.00 and gave the stock a "neutral" rating in a research report on Monday, July 13th. Finally, Evercore reiterated an "outperform" rating and set a $36.00 price target on shares of Neptune Insurance in a research report on Wednesday. Eight 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 MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $30.61.

Neptune Insurance Price Performance

NP stock traded up $0.78 on Friday, reaching $30.66. The company's stock had a trading volume of 252,625 shares, compared to its average volume of 604,244. Neptune Insurance has a 52 week low of $14.78 and a 52 week high of $34.61. The company has a market capitalization of $4.24 billion and a P/E ratio of 122.42. The firm has a fifty day moving average of $29.08 and a two-hundred day moving average of $25.95.

Neptune Insurance (NYSE:NP - Get Free Report) last announced its earnings results on Tuesday, July 21st. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.01. The firm had revenue of $55.87 million for the quarter, compared to the consensus estimate of $52.38 million. Neptune Insurance had a negative return on equity of 18.77% and a net margin of 21.45%. As a group, equities analysts expect that Neptune Insurance will post 0.4 EPS for the current fiscal year.

Insider Buying and Selling at Neptune Insurance

In other Neptune Insurance news, major shareholder Hold 101 Lp Bsiv sold 4,589,351 shares of the business's stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $26.40, for a total transaction of $121,158,866.40. Following the sale, the insider owned 14,941,121 shares in the company, valued at approximately $394,445,594.40. The trade was a 23.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Vii L.P. Ftv sold 5,252,044 shares of the company's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $26.40, for a total transaction of $138,653,961.60. Following the sale, the insider directly owned 17,098,587 shares of the company's stock, valued at $451,402,696.80. This represents a 23.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 11,317,604 shares of company stock worth $298,784,746 in the last ninety days. 74.26% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Neptune Insurance

A number of large investors have recently made changes to their positions in the company. Wells Fargo & Company MN acquired a new position in Neptune Insurance in the 4th quarter worth approximately $28,000. PNC Financial Services Group Inc. acquired a new stake in shares of Neptune Insurance in the fourth quarter worth $125,000. Symmetry Investments LP purchased a new position in shares of Neptune Insurance during the fourth quarter valued at $204,000. FJ Capital Management LLC acquired a new position in Neptune Insurance during the fourth quarter valued at $289,000. Finally, BIT Capital GmbH purchased a new stake in Neptune Insurance in the 4th quarter worth about $292,000.

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.

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