Insider Selling: Neptune Insurance (NYSE:NP) CEO Sells $122,428.53 in Stock

Neptune Insurance Holdings Inc. (NYSE:NP) CEO Trevor Burgess sold 4,431 shares of the firm’s stock in a transaction on Monday, November 9th. The stock was sold at an average price of $27.63, for a total value of $122,428.53. Following the transaction, the chief executive officer owned 1,902,520 shares of the company’s stock, valued at approximately $52,566,627.60. This represents a 0.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 Trading Up 0.2%

NP stock opened at $28.54 on Friday. The company has a market capitalization of $3.94 billion and a PE ratio of 69.46. Neptune Insurance Holdings Inc. has a 12-month low of $14.78 and a 12-month high of $35.15. The business’s fifty day moving average price is $29.06 and its 200 day moving average price is $27.61.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on NP shares. Morgan Stanley lowered their price objective on Neptune Insurance from $36.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, October 22nd. Weiss Ratings upgraded shares of Neptune Insurance from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 23rd. Mizuho boosted their target price on shares of Neptune Insurance from $31.00 to $33.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 21st. Evercore restated an “outperform” rating and issued a $36.00 price target on shares of Neptune Insurance in a research note on Wednesday, July 22nd. Finally, Wells Fargo & Company cut their target price on Neptune Insurance from $37.00 to $34.00 and set an “overweight” rating on the stock in a research report on Monday, October 12th. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $32.29.

Institutional Trading of Neptune Insurance

A number of large investors have recently made changes to their positions in NP. USS Investment Management Ltd grew its position in shares of Neptune Insurance by 152.0% during the third quarter. USS Investment Management Ltd now owns 311,686 shares of the company’s stock worth $8,523,000 after acquiring an additional 187,996 shares during the last quarter. Public Sector Pension Investment Board acquired a new position in shares of Neptune Insurance in the third quarter valued at approximately $6,017,000. 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 holdings in shares of Neptune Insurance by 80.7% in the third quarter. State of Wyoming now owns 5,026 shares of the company’s stock valued at $137,000 after acquiring an additional 2,244 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Neptune Insurance by 41.1% in the third quarter. Nisa Investment Advisors LLC now owns 1,727 shares of the company’s stock valued at $47,000 after acquiring an additional 503 shares in the last quarter.

Neptune Insurance Company Profile

Neptune Insurance is a technology-enabled provider of private flood insurance. Founded in 2016, the company uses data analytics and risk modeling to assess flood exposure and support policy underwriting and distribution. Its products include flood coverage for residential and commercial properties, with options for protection of buildings and contents. Neptune distributes its policies through a network of insurance agents and serves customers across the United States. Founder Trevor Burgess has served as the company’s chief executive officer.