Neptune Insurance (NYSE:NP) CEO Sells $1,559,084.45 in Stock

Neptune Insurance Holdings Inc. (NYSE:NP) CEO Trevor Burgess sold 53,669 shares of the firm’s stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $29.05, for a total transaction of $1,559,084.45. Following the completion of the transaction, the chief executive officer owned 2,255,003 shares of the company’s stock, valued at approximately $65,507,837.15. The trade was a 2.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neptune Insurance Price Performance

NP stock opened at $27.82 on Friday. Neptune Insurance Holdings Inc. has a 52-week low of $14.78 and a 52-week high of $35.15. The company’s 50 day simple moving average is $29.58 and its 200-day simple moving average is $27.54. The firm has a market capitalization of $3.84 billion and a P/E ratio of 86.93.

Neptune Insurance (NYSE:NP) last issued its quarterly 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. Neptune Insurance had a net margin of 22.71% and a negative return on equity of 26.63%. The business had revenue of $59.57 million during the quarter, compared to the consensus estimate of $56.59 million. Sell-side analysts predict that Neptune Insurance Holdings Inc. will post 0.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NP. Fifth Third Bancorp increased its stake in Neptune Insurance by 30.2% in the 3rd quarter. Fifth Third Bancorp now owns 82,615 shares of the company’s stock valued at $2,260,000 after buying an additional 19,165 shares during the period. State of Wyoming boosted its stake in shares of Neptune Insurance by 80.7% during the 3rd 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 period. Nisa Investment Advisors LLC boosted its stake in shares of Neptune Insurance by 41.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,727 shares of the company’s stock valued at $47,000 after buying an additional 503 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of Neptune Insurance during the 3rd quarter valued at $105,000. Finally, BlueCrest Capital Management Ltd purchased a new position in shares of Neptune Insurance during the 2nd quarter valued at $1,418,000.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Weiss Ratings upgraded Neptune Insurance from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 23rd. Wells Fargo & Company lowered their price target on Neptune Insurance from $37.00 to $34.00 and set an “overweight” rating on the stock in a report on Monday, October 12th. Morgan Stanley dropped their price target on Neptune Insurance from $36.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, October 22nd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Neptune Insurance in a research note on Wednesday, September 23rd. Finally, Evercore restated an “outperform” rating and set a $36.00 price objective on shares of Neptune Insurance in a research report on Wednesday, July 22nd. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Neptune Insurance currently has an average rating of “Moderate Buy” and an average target price of $32.29.

Neptune Insurance Company Profile

Neptune Insurance is a technology-enabled insurance company focused primarily on flood coverage for residential and commercial policyholders. Its platform is designed to streamline the insurance process, including quoting, underwriting and policy management, while providing coverage tailored to properties that may face flood-related risks.

The company offers flood insurance products for homeowners, renters, landlords and businesses. Its offerings are intended to complement or provide an alternative to coverage available through traditional government and private-market flood insurance programs, depending on the policyholder’s location and eligibility.

Neptune’s business is primarily focused on the United States, where flood risk varies significantly by geography and many properties are outside federally designated high-risk areas.