Neptune Insurance (NYSE:NP) CEO Trevor Burgess Sells 53,669 Shares of Company Stock

Neptune Insurance Holdings Inc. (NYSE:NP) CEO Trevor Burgess sold 53,669 shares of the business’s stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $29.05, for a total value of $1,559,084.45. Following the completion of the sale, the chief executive officer owned 2,255,003 shares of the company’s stock, valued at $65,507,837.15. This trade represents a 2.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neptune Insurance Trading Down 0.7%

NP stock opened at $29.15 on Wednesday. The stock’s 50 day simple moving average is $29.83 and its 200 day simple moving average is $27.51. Neptune Insurance Holdings Inc. has a 12-month low of $14.78 and a 12-month high of $35.15. The firm has a market cap of $4.03 billion and a P/E ratio of 71.61.

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

Analyst Ratings Changes

A number of brokerages recently weighed in on NP. JPMorgan Chase & Co. boosted their price objective on shares of Neptune Insurance from $26.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Neptune Insurance in a report on Wednesday, September 23rd. Mizuho lifted their target price on Neptune Insurance from $31.00 to $33.00 and gave the company a “neutral” rating in a research note 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. Finally, Evercore reiterated an “outperform” rating and set a $36.00 price target on shares of Neptune Insurance in a research report on Wednesday, July 22nd. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Neptune Insurance presently has an average rating of “Moderate Buy” and a consensus target price of $32.29.

Institutional Investors Weigh In On Neptune Insurance

A number of hedge funds have recently added to or reduced their stakes in NP. State of Wyoming boosted its holdings in shares of Neptune Insurance by 80.7% during 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 during the period. Nisa Investment Advisors LLC increased its holdings in shares of Neptune Insurance by 41.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,727 shares of the company’s stock worth $47,000 after acquiring an additional 503 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of Neptune Insurance in the 3rd quarter worth about $105,000. BlueCrest Capital Management Ltd bought a new stake in Neptune Insurance in the 2nd quarter valued at about $1,418,000. Finally, Arizona State Retirement System bought a new stake in Neptune Insurance in the 2nd quarter valued at about $329,000.

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.