Neptune Insurance (NYSE:NP) CEO Trevor Burgess Sells 76,559 Shares of Company Stock

Neptune Insurance Holdings Inc. (NYSE:NP) CEO Trevor Burgess sold 76,559 shares of the business’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $28.85, for a total value of $2,208,727.15. Following the completion of the sale, the chief executive officer owned 2,078,236 shares in the company, valued at approximately $59,957,108.60. This trade represents a 3.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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. The stock has a market capitalization of $3.84 billion and a P/E ratio of 86.93. Neptune Insurance Holdings Inc. has a fifty-two week low of $14.78 and a fifty-two week high of $35.15. The business has a 50-day moving average of $29.58 and a 200-day moving average of $27.54.

Neptune Insurance (NYSE:NP) last announced its earnings results on Tuesday, October 20th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The business had revenue of $59.57 million for the quarter, compared to analyst estimates of $56.59 million. Neptune Insurance had a negative return on equity of 26.63% and a net margin of 22.71%. Equities analysts expect that Neptune Insurance Holdings Inc. will post 0.41 EPS for the current year.

Institutional Investors Weigh In On Neptune Insurance

Several large investors have recently made changes to their positions in NP. Renaissance Technologies LLC increased its holdings in shares of Neptune Insurance by 874.4% during the 1st quarter. Renaissance Technologies LLC now owns 160,703 shares of the company’s stock worth $3,887,000 after acquiring an additional 144,210 shares during the last quarter. Walleye Capital LLC lifted its holdings in Neptune Insurance by 17.3% during the 1st quarter. Walleye Capital LLC now owns 135,364 shares of the company’s stock valued at $3,274,000 after purchasing an additional 20,000 shares during the last quarter. Fifth Third Bancorp lifted its holdings in Neptune Insurance by 30.2% during the 3rd quarter. Fifth Third Bancorp now owns 82,615 shares of the company’s stock valued at $2,260,000 after purchasing an additional 19,165 shares during the last quarter. Sei Investments Co. lifted its holdings in Neptune Insurance by 203.3% during the 1st quarter. Sei Investments Co. now owns 59,114 shares of the company’s stock valued at $1,430,000 after purchasing an additional 39,626 shares during the last quarter. Finally, Swiss National Bank bought a new position in Neptune Insurance during the first quarter worth $1,132,000.

Analysts Set New Price Targets

A number of research analysts recently weighed in on NP shares. Keefe, Bruyette & Woods raised their target price on shares of Neptune Insurance from $32.00 to $33.00 and gave the company a “market perform” rating in a research report on Wednesday, October 21st. Evercore reissued an “outperform” rating and set a $36.00 price target on shares of Neptune Insurance in a research report on Wednesday, July 22nd. BMO Capital Markets downgraded shares of Neptune Insurance from an “outperform” rating to a “market perform” rating and set a $32.00 price objective for the company. in a research note on Thursday, July 30th. Mizuho raised their price objective on Neptune Insurance from $31.00 to $33.00 and gave the company a “neutral” rating in a report on Wednesday, October 21st. Finally, Morgan Stanley lowered their target price 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. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.29.

About Neptune Insurance

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.