Neptune Insurance (NYSE:NP) CEO Trevor Burgess Buys 50,000 Shares

Neptune Insurance Holdings Inc. (NYSE:NP) CEO Trevor Burgess purchased 50,000 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were bought at an average price of $18.71 per share, for a total transaction of $935,500.00. Following the acquisition, the chief executive officer directly owned 2,082,964 shares in the company, valued at $38,972,256.44. This trade represents a 2.46% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

Neptune Insurance Stock Up 20.2%

Shares of NP opened at $21.87 on Friday. The business has a fifty day moving average of $23.12 and a 200 day moving average of $26.33. The company has a market cap of $3.02 billion and a PE ratio of 99.42. Neptune Insurance Holdings Inc. has a 52-week low of $14.78 and a 52-week high of $33.23.

Neptune Insurance (NYSE:NP) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. The firm had revenue of $43.77 million for the quarter, compared to the consensus estimate of $39.42 million.

Institutional Trading of Neptune Insurance

A number of large investors have recently modified their holdings of the company. Wells Fargo & Company MN purchased a new position in Neptune Insurance during the 4th quarter worth $28,000. PNC Financial Services Group Inc. bought a new stake in shares of Neptune Insurance in the fourth quarter valued at about $125,000. FNY Investment Advisers LLC purchased a new stake in Neptune Insurance in the third quarter worth about $171,000. Symmetry Investments LP purchased a new position in Neptune Insurance during the 4th quarter valued at about $204,000. Finally, FJ Capital Management LLC bought a new stake in shares of Neptune Insurance in the 4th quarter valued at about $289,000.

Analysts Set New Price Targets

NP has been the topic of a number of recent analyst reports. Evercore set a $30.00 price objective on shares of Neptune Insurance in a research report on Thursday, February 19th. Deutsche Bank Aktiengesellschaft upped their target price on Neptune Insurance from $29.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, December 22nd. Weiss Ratings assumed coverage on Neptune Insurance in a report on Wednesday, December 24th. They set a “sell (d)” rating for the company. BMO Capital Markets raised Neptune Insurance from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $25.00 to $20.00 in a research report on Friday, February 13th. Finally, Mizuho upgraded Neptune Insurance from an “underperform” rating to a “neutral” rating and reduced their target price for the stock from $26.00 to $24.00 in a research note on Wednesday, February 25th. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.50.

Neptune Insurance Company Profile

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.