Neptune Insurance (NYSE:NP) Stock Rating Upgraded by Bank of America

Neptune Insurance (NYSE:NP) was upgraded by analysts at Bank of America from an “underperform” rating to a “neutral” rating in a report issued on Friday, MarketBeat Ratings reports. The firm currently has a $23.00 price target on the stock. Bank of America‘s price objective points to a potential upside of 12.20% from the company’s previous close.

NP has been the topic of several other research reports. Morgan Stanley raised their price target on Neptune Insurance from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Monday, November 17th. National Bank Financial set a $23.00 target price on shares of Neptune Insurance in a research note on Monday, October 27th. Keefe, Bruyette & Woods raised shares of Neptune Insurance from a “market perform” rating to an “outperform” rating and dropped their price target for the stock from $26.00 to $25.00 in a research note on Thursday. Zacks Research upgraded shares of Neptune Insurance to a “hold” rating in a report on Tuesday, October 28th. Finally, Evercore set a $30.00 target price on shares of Neptune Insurance in a report on Thursday. Eight equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $26.73.

Neptune Insurance Trading Up 13.1%

NP opened at $20.50 on Friday. The stock has a market capitalization of $2.83 billion and a PE ratio of 186.36. The firm has a 50-day moving average price of $25.88 and a two-hundred day moving average price of $27.60. Neptune Insurance has a 1-year low of $14.78 and a 1-year high of $33.23.

Institutional Investors Weigh In On Neptune Insurance

Several large investors have recently bought and sold shares of the company. Wells Fargo & Company MN acquired a new position in shares of Neptune Insurance in the fourth quarter valued at approximately $28,000. PNC Financial Services Group Inc. bought a new stake in Neptune Insurance in the 4th quarter valued at $125,000. FNY Investment Advisers LLC acquired a new position in Neptune Insurance in the 3rd quarter worth $171,000. Symmetry Investments LP bought a new position in Neptune Insurance during the 4th quarter worth about $204,000. Finally, FJ Capital Management LLC acquired a new stake in shares of Neptune Insurance in the 4th quarter valued at about $289,000.

Neptune Insurance Company Profile

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.