Insider Selling: Neptune Insurance (NYSE:NP) CFO Sells 42,988 Shares of Stock

Neptune Insurance Holdings Inc. (NYSE:NP) CFO James Steiner sold 42,988 shares of Neptune Insurance stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $31.08, for a total value of $1,336,067.04. Following the completion of the sale, the chief financial officer owned 3,806,062 shares in the company, valued at $118,292,406.96. This represents a 1.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

James Steiner also recently made the following trade(s):

• On Thursday, August 13th, James Steiner sold 57,012 shares of Neptune Insurance stock. The shares were sold at an average price of $31.71, for a total value of $1,807,850.52.

Neptune Insurance Stock Performance

Shares of NYSE NP traded down $0.25 during mid-day trading on Friday, reaching $31.82. 337,369 shares of the company’s stock were exchanged, compared to its average volume of 619,639. The company’s 50-day moving average is $30.52 and its 200-day moving average is $26.53. The firm has a market capitalization of $4.37 billion and a price-to-earnings ratio of 127.30. Neptune Insurance Holdings Inc. has a 52-week low of $14.78 and a 52-week high of $35.15.

Neptune Insurance (NYSE:NP) last issued its quarterly earnings data on Tuesday, July 21st. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.01. Neptune Insurance had a net margin of 21.45% and a negative return on equity of 18.77%. The firm had revenue of $55.87 million for the quarter, compared to analyst estimates of $52.38 million. As a group, equities analysts predict that Neptune Insurance Holdings Inc. will post 0.4 earnings per share for the current fiscal year.

Institutional Trading of Neptune Insurance

A number of institutional investors and hedge funds have recently bought and sold shares of NP. Bank of America Corp DE lifted its position in shares of Neptune Insurance by 562.1% during the first quarter. Bank of America Corp DE now owns 37,496 shares of the company’s stock worth $907,000 after purchasing an additional 31,833 shares in the last quarter. Janus Henderson Group PLC acquired a new position in shares of Neptune Insurance in the first quarter valued at approximately $313,000. California State Teachers Retirement System purchased a new stake in Neptune Insurance during the 1st quarter worth approximately $523,000. SummitTX Capital L.P. purchased a new stake in Neptune Insurance during the 1st quarter worth approximately $898,000. Finally, Renaissance Technologies LLC lifted its holdings in 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 buying an additional 144,210 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NP shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $33.00 price target on shares of Neptune Insurance in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. lifted their target price on shares of Neptune Insurance from $26.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Weiss Ratings raised Neptune Insurance from a “sell (d)” rating to a “hold (c)” rating in a research report on Friday, July 31st. Morgan Stanley set a $31.00 price target on Neptune Insurance in a research note on Thursday, July 23rd. Finally, Piper Sandler raised their price target on Neptune Insurance from $30.00 to $39.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Seven equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $31.46.

About Neptune Insurance

Our mission is to create a smarter, more resilient insurance platform powered by AI, data science, and technology, enabling insurers to deploy capacity with confidence and delivering instant access to coverage for policyholders and agents. Neptune is a leading, high-growth, highly profitable, data-driven managing general agent that is revolutionizing the way homeowners and businesses protect against the growing risks of flooding. We offer a range of easy-to-purchase residential and commercial insurance products — including primary flood insurance, excess flood insurance, and parametric earthquake insurance — distributed through a nationwide network of agencies.