Neptune Insurance (NYSE:NP) CEO Trevor Burgess Sells 43,018 Shares of Stock

Neptune Insurance Holdings Inc. (NYSE:NP) CEO Trevor Burgess sold 43,018 shares of Neptune Insurance stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $29.13, for a total value of $1,253,114.34. Following the sale, the chief executive officer directly owned 2,154,795 shares of the company’s stock, valued at approximately $62,769,178.35. The trade was a 1.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neptune Insurance Price Performance

Shares of NYSE NP opened at $27.82 on Friday. The stock’s fifty day moving average price is $29.58 and its two-hundred day moving average price is $27.54. Neptune Insurance Holdings Inc. has a one year low of $14.78 and a one year high of $35.15. The firm has a market cap of $3.84 billion and a price-to-earnings ratio of 86.93.

Neptune Insurance (NYSE:NP) last posted its quarterly earnings data 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. Neptune Insurance had a negative return on equity of 26.63% and a net margin of 22.71%. The firm had revenue of $59.57 million for the quarter, compared to analysts’ expectations of $56.59 million. On average, equities analysts anticipate that Neptune Insurance Holdings Inc. will post 0.41 earnings per share for the current fiscal year.

Institutional Trading of Neptune Insurance

A number of institutional investors have recently modified their holdings of NP. Nisa Investment Advisors LLC grew its holdings 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 worth $47,000 after purchasing an additional 503 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in Neptune Insurance in the third quarter valued at about $105,000. 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. PNC Financial Services Group Inc. raised its stake in Neptune Insurance by 73.3% in the first quarter. PNC Financial Services Group Inc. now owns 7,440 shares of the company’s stock valued at $180,000 after purchasing an additional 3,146 shares in the last quarter. Finally, AXQ Capital LP bought a new stake in Neptune Insurance during the second quarter worth about $296,000.

Analysts Set New Price Targets

NP has been the topic of a number of recent research reports. Keefe, Bruyette & Woods raised their price target on shares of Neptune Insurance from $32.00 to $33.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 21st. Mizuho boosted their price objective on shares of Neptune Insurance from $31.00 to $33.00 and gave the company a “neutral” rating in a report on Wednesday, October 21st. Evercore restated an “outperform” rating and set a $36.00 target price on shares of Neptune Insurance in a research report on Wednesday, July 22nd. BMO Capital Markets cut shares of Neptune Insurance from an “outperform” rating to a “market perform” rating and set a $32.00 target price on the stock. in a report on Thursday, July 30th. Finally, Weiss Ratings raised shares of Neptune Insurance from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 23rd. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.