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 Neptune Insurance stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $28.85, for a total transaction of $2,208,727.15. Following the transaction, the chief executive officer directly owned 2,078,236 shares in the company, valued at $59,957,108.60. This represents a 3.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neptune Insurance Stock Performance

Shares of NP traded down $0.73 during mid-day trading on Thursday, reaching $27.82. The stock had a trading volume of 999,311 shares, compared to its average volume of 596,593. The firm has a market cap of $3.84 billion and a price-to-earnings ratio of 86.93. Neptune Insurance Holdings Inc. has a 12 month low of $14.78 and a 12 month high of $35.15. The business has a fifty day moving average of $29.71 and a 200 day moving average of $27.53.

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on NP shares. JPMorgan Chase & Co. increased their price target on Neptune Insurance from $26.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Wells Fargo & Company dropped their price objective on Neptune Insurance from $37.00 to $34.00 and set an “overweight” rating for the company in a research note on Monday, October 12th. BMO Capital Markets cut Neptune Insurance from an “outperform” rating to a “market perform” rating and set a $32.00 target price for the company. in a research report on Thursday, July 30th. Mizuho lifted their target price on Neptune Insurance from $31.00 to $33.00 and gave the company a “neutral” rating in a research note on Wednesday, October 21st. Finally, Weiss Ratings raised Neptune Insurance from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 23rd. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.29.

Hedge Funds Weigh In On Neptune Insurance

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC grew its stake in Neptune Insurance by 874.4% during the first quarter. Renaissance Technologies LLC now owns 160,703 shares of the company’s stock valued at $3,887,000 after acquiring an additional 144,210 shares in the last quarter. Fifth Third Bancorp purchased a new stake in Neptune Insurance in the 1st quarter worth $1,531,000. Swiss National Bank purchased a new position in shares of Neptune Insurance during the first quarter valued at about $1,132,000. BlueCrest Capital Management Ltd bought a new stake in shares of Neptune Insurance in the second quarter worth about $1,418,000. Finally, Sei Investments Co. increased its holdings in shares of Neptune Insurance by 203.3% in the first quarter. Sei Investments Co. now owns 59,114 shares of the company’s stock worth $1,430,000 after purchasing an additional 39,626 shares during the last quarter.

Neptune Insurance Company Profile

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.