Neptune Insurance (NYSE:NP) Stock Price Expected to Rise, Bank of America Analyst Says

Key Points

• Bank of America raised its price target on Neptune Insurance from $23 to $26 while maintaining a "neutral" rating, and analysts' consensus is a Moderate Buy with an average target of $27.12.
• Insiders have been buying: CEO Trevor R. Burgess acquired 50,000 shares at about $18.71 (a 2.46% increase to his stake) and a director bought 23,000 shares, suggesting management confidence in the company.
• Neptune beat quarterly expectations with $0.11 EPS (vs. $0.10) and $43.77M revenue (vs. $39.42M); the stock traded at $25.79, has a $3.56B market cap and a high P/E of 117.2.

Neptune Insurance (NYSE:NP - Get Free Report) had its target price increased by equities researchers at Bank of America from $23.00 to $26.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Bank of America's target price indicates a potential upside of 0.83% from the stock's previous close.

Other equities analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Neptune Insurance from $25.00 to $28.00 and gave the company an "outperform" rating in a research note on Tuesday, April 7th. The Goldman Sachs Group reissued a "buy" rating and issued a $32.50 price objective on shares of Neptune Insurance in a research note on Wednesday, January 7th. Piper Sandler dropped 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 note on Thursday, February 19th. BMO Capital Markets raised shares of Neptune Insurance from a "market perform" rating to an "outperform" rating and dropped their price objective for the company from $25.00 to $20.00 in a research note on Friday, February 13th. Finally, Morgan Stanley dropped their price objective on shares of Neptune Insurance from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 4th. Eight investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Neptune Insurance currently has a consensus rating of "Moderate Buy" and an average price target of $27.12.

Neptune Insurance Trading Up 0.9%

NP stock traded up $0.23 on Tuesday, hitting $25.79. The company's stock had a trading volume of 75,154 shares, compared to its average volume of 392,114. The firm has a 50 day moving average of $22.15 and a two-hundred day moving average of $25.05. Neptune Insurance has a 1 year low of $14.78 and a 1 year high of $33.23. The stock has a market cap of $3.56 billion and a price-to-earnings ratio of 117.20.

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

Insiders Place Their Bets

In related news, CEO Trevor R. Burgess purchased 50,000 shares of the stock in a transaction dated Friday, March 13th. The shares were acquired at an average cost of $18.71 per share, with a total value of $935,500.00. Following the purchase, the chief executive officer directly owned 2,082,964 shares in the company, valued at $38,972,256.44. This trade represents a 2.46% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael Warren Vostrizansky purchased 23,000 shares of the stock in a transaction dated Friday, February 20th. The shares were bought at an average cost of $21.50 per share, for a total transaction of $494,500.00. Following the completion of the purchase, the director owned 23,000 shares in the company, valued at approximately $494,500. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing.

Institutional Investors Weigh In On Neptune Insurance

Large investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN acquired a new stake in Neptune Insurance in the 4th quarter valued at about $28,000. PNC Financial Services Group Inc. acquired a new stake in Neptune Insurance in the 4th quarter valued at about $125,000. FNY Investment Advisers LLC acquired a new stake in Neptune Insurance in the 3rd quarter valued at about $171,000. Symmetry Investments LP acquired a new stake in Neptune Insurance in the 4th quarter valued at about $204,000. Finally, FJ Capital Management LLC acquired a new stake in Neptune Insurance in the 4th quarter valued at about $289,000.

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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