Keefe, Bruyette & Woods Issues Positive Forecast for Neptune Insurance (NYSE:NP) Stock Price

Key Points

• Keefe, Bruyette & Woods raised its price target on Neptune Insurance from $25 to $28 and kept an "outperform" rating, implying roughly a 9.8% upside from the current share price.
• Neptune beat quarterly estimates (EPS $0.11 vs $0.10; revenue $43.8M vs $39.4M) and holds a MarketBeat consensus of "Moderate Buy" with a $26.73 average price target.
• Insiders and institutions are buying: CEO Trevor Burgess purchased 50,000 shares at $18.71, and T. Rowe Price established a new ~$133M stake, indicating insider and institutional confidence.

Neptune Insurance (NYSE:NP - Get Free Report) had its price objective boosted by analysts at Keefe, Bruyette & Woods from $25.00 to $28.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' price target would indicate a potential upside of 9.76% from the company's current price.

A number of other equities analysts have also issued reports on the stock. Weiss Ratings started coverage on shares of Neptune Insurance in a research report on Wednesday, December 24th. They issued a "sell (d)" rating for the company. Evercore set a $30.00 target price on shares of Neptune Insurance in a research report on Thursday, February 19th. BMO Capital Markets raised shares of Neptune Insurance from a "market perform" rating to an "outperform" rating and cut their price target for the company from $25.00 to $20.00 in a report on Friday, February 13th. Morgan Stanley cut their price target on shares of Neptune Insurance from $27.00 to $25.00 and set an "equal weight" rating for the company in a report on Wednesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Neptune Insurance from $29.00 to $31.00 and gave the company a "buy" rating in a report on Monday, December 22nd. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $26.73.

Neptune Insurance Trading Down 1.5%

NP traded down $0.40 on Tuesday, reaching $25.51. The company had a trading volume of 122,590 shares, compared to its average volume of 406,005. The company has a fifty day moving average of $22.16 and a 200-day moving average of $25.29. The company has a market capitalization of $3.52 billion and a P/E ratio of 116.05. Neptune Insurance has a one year low of $14.78 and a one year high of $33.23.

Neptune Insurance (NYSE:NP - Get Free Report) last announced its earnings results on Wednesday, February 18th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.01. The company had revenue of $43.77 million during the quarter, compared to the consensus estimate of $39.42 million.

Insider Transactions at Neptune Insurance

In other news, CEO Trevor R. Burgess acquired 50,000 shares of Neptune Insurance stock in a transaction on Friday, March 13th. The stock was bought at an average cost of $18.71 per share, with a total value of $935,500.00. Following the completion of the purchase, the chief executive officer owned 2,082,964 shares of the company's stock, valued at $38,972,256.44. This represents a 2.46% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael Warren Vostrizansky acquired 23,000 shares of Neptune Insurance stock in a transaction on 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 of the company's stock, valued at approximately $494,500. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. 0.63% of the stock is currently owned by corporate insiders.

Institutional Trading of Neptune Insurance

A number of hedge funds have recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. purchased a new stake in Neptune Insurance during the fourth quarter valued at about $133,488,000. XTX Topco Ltd purchased a new stake in Neptune Insurance during the fourth quarter valued at about $361,000. Zimmer Partners LP purchased a new stake in Neptune Insurance during the fourth quarter valued at about $3,645,000. Symmetry Investments LP purchased a new stake in Neptune Insurance during the fourth quarter valued at about $204,000. Finally, Readystate Asset Management LP purchased a new stake in Neptune Insurance during the fourth quarter valued at about $1,448,000.

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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