Insider Selling: Neptune Insurance (NYSE:NP) CEO Sells $2,208,727.15 in Stock

Neptune Insurance Holdings Inc. (NYSE:NP) CEO Trevor Burgess sold 76,559 shares of the company’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $28.85, for a total value of $2,208,727.15. Following the completion of the transaction, the chief executive officer owned 2,078,236 shares of the company’s stock, valued at $59,957,108.60. The trade was a 3.55% decrease in their ownership of the stock. The transaction 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 0.2%

NYSE NP opened at $27.87 on Friday. The business’s 50-day moving average price is $29.46 and its 200 day moving average price is $27.55. Neptune Insurance Holdings Inc. has a twelve month low of $14.78 and a twelve month high of $35.15. The company has a market capitalization of $3.85 billion and a PE ratio of 87.10.

Neptune Insurance (NYSE:NP) last posted its quarterly earnings results on Tuesday, October 20th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01. The company had revenue of $59.57 million during the quarter, compared to analysts’ expectations of $56.59 million. Neptune Insurance had a negative return on equity of 26.63% and a net margin of 22.71%. Equities analysts predict that Neptune Insurance Holdings Inc. will post 0.41 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on NP shares. Weiss Ratings raised shares of Neptune Insurance from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 23rd. JPMorgan Chase & Co. lifted their price target 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. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Neptune Insurance in a research note on Wednesday, September 23rd. Keefe, Bruyette & Woods upped their price objective on Neptune Insurance from $32.00 to $33.00 and gave the stock a “market perform” rating in a report on Wednesday, October 21st. Finally, Piper Sandler restated an “overweight” rating on shares of Neptune Insurance in a report on Monday, October 19th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.29.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Fifth Third Bancorp grew its stake in shares of Neptune Insurance by 30.2% in the third 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 lifted its position in Neptune Insurance by 80.7% during the 3rd quarter. State of Wyoming now owns 5,026 shares of the company’s stock worth $137,000 after acquiring an additional 2,244 shares in the last quarter. Nisa Investment Advisors LLC lifted its position 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. State of Alaska Department of Revenue purchased a new position in Neptune Insurance in the 3rd quarter worth approximately $105,000. Finally, BlueCrest Capital Management Ltd purchased a new position in Neptune Insurance in the 2nd quarter worth approximately $1,418,000.

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.