Neptune Insurance (NYSE:NP) Stock: Insider Trevor Burgess Sells 57,190 Shares

Neptune Insurance Holdings Inc. (NYSE:NP) CEO Trevor Burgess sold 57,190 shares of Neptune Insurance stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $29.46, for a total transaction of $1,684,817.40. Following the transaction, the chief executive officer directly owned 2,197,813 shares of the company’s stock, valued at approximately $64,747,570.98. This trade represents a 2.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neptune Insurance Price Performance

Shares of NP opened at $28.54 on Thursday. The firm has a market capitalization of $3.94 billion and a PE ratio of 71.34. The company’s 50-day moving average is $29.71 and its 200-day moving average is $27.53. Neptune Insurance Holdings Inc. has a fifty-two week low of $14.78 and a fifty-two week high of $35.15.

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

Institutional Trading of Neptune Insurance

Several large investors have recently modified their holdings of the stock. State of Wyoming raised its stake in 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 purchasing an additional 2,244 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Neptune Insurance by 41.1% during the third quarter. Nisa Investment Advisors LLC now owns 1,727 shares of the company’s stock worth $47,000 after purchasing an additional 503 shares during the period. State of Alaska Department of Revenue acquired a new stake in Neptune Insurance during the third quarter worth about $105,000. BlueCrest Capital Management Ltd acquired a new stake in Neptune Insurance during the second quarter worth about $1,418,000. Finally, Arizona State Retirement System acquired a new stake in Neptune Insurance during the second quarter worth about $329,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NP shares. Wells Fargo & Company reduced their price objective on Neptune Insurance from $37.00 to $34.00 and set an “overweight” rating for the company in a report on Monday, October 12th. Mizuho upped their target price on Neptune Insurance from $31.00 to $33.00 and gave the company a “neutral” rating in a research report on Wednesday, October 21st. Weiss Ratings raised Neptune Insurance from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 23rd. Morgan Stanley dropped their price target on Neptune Insurance from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, October 22nd. Finally, Keefe, Bruyette & Woods boosted their price target on Neptune Insurance from $32.00 to $33.00 and gave the company a “market perform” rating in a research note on Wednesday, October 21st. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Neptune Insurance has an average rating of “Moderate Buy” and a consensus 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.