Neptune Insurance (NYSE:NP) CEO Trevor Burgess Sells 4,431 Shares of Stock

Neptune Insurance Holdings Inc. (NYSE:NP) CEO Trevor Burgess sold 4,431 shares of the company’s stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $27.63, for a total value of $122,428.53. Following the sale, the chief executive officer owned 1,902,520 shares in the company, valued at approximately $52,566,627.60. This trade represents a 0.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neptune Insurance Stock Performance

Shares of NP opened at $28.22 on Wednesday. The stock has a 50-day simple moving average of $29.24 and a 200-day simple moving average of $27.58. The stock has a market capitalization of $3.90 billion and a PE ratio of 88.20. Neptune Insurance Holdings Inc. has a 1 year low of $14.78 and a 1 year high of $35.15.

Neptune Insurance (NYSE:NP) last announced its quarterly earnings data on Tuesday, October 20th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $59.57 million during the quarter, compared to the consensus estimate of $56.59 million. Analysts predict that Neptune Insurance Holdings Inc. will post 0.41 EPS for the current year.

Hedge Funds Weigh In On Neptune Insurance

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Public Sector Pension Investment Board purchased a new stake in shares of Neptune Insurance during the 3rd quarter worth approximately $6,017,000. Fifth Third Bancorp boosted its holdings in shares of Neptune Insurance by 30.2% in the 3rd quarter. Fifth Third Bancorp now owns 82,615 shares of the company’s stock valued at $2,260,000 after buying an additional 19,165 shares in the last quarter. State of Wyoming grew its position in shares of Neptune Insurance by 80.7% in the 3rd quarter. State of Wyoming now owns 5,026 shares of the company’s stock valued at $137,000 after buying an additional 2,244 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in 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 acquiring an additional 503 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in Neptune Insurance during the 3rd quarter worth $105,000.

Wall Street Analysts Forecast Growth

NP has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price objective on shares of Neptune Insurance from $36.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, October 22nd. Evercore reiterated an “outperform” rating and set a $36.00 target price on shares of Neptune Insurance in a research note on Wednesday, July 22nd. Weiss Ratings upgraded shares of Neptune Insurance from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 23rd. Wells Fargo & Company dropped their target price on Neptune Insurance from $37.00 to $34.00 and set an “overweight” rating on the stock in a report on Monday, October 12th. Finally, Mizuho raised their price target on Neptune Insurance from $31.00 to $33.00 and gave the company a “neutral” 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.29.

About Neptune Insurance

Neptune Insurance is a technology-enabled provider of private flood insurance. Founded in 2016, the company uses data analytics and risk modeling to assess flood exposure and support policy underwriting and distribution. Its products include flood coverage for residential and commercial properties, with options for protection of buildings and contents. Neptune distributes its policies through a network of insurance agents and serves customers across the United States. Founder Trevor Burgess has served as the company’s chief executive officer.