Insider Selling: Neptune Insurance (NYSE:NP) CEO Sells $122,428.53 in Stock

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

Neptune Insurance Stock Performance

Neptune Insurance stock traded up $0.05 during mid-day trading on Tuesday, reaching $28.22. The company’s stock had a trading volume of 511,053 shares, compared to its average volume of 598,451. Neptune Insurance Holdings Inc. has a 12-month low of $14.78 and a 12-month high of $35.15. The company has a market capitalization of $3.90 billion and a P/E ratio of 88.20. The firm’s fifty day moving average price is $29.34 and its two-hundred day moving average price is $27.56.

Neptune Insurance (NYSE:NP) last issued its earnings results on Tuesday, October 20th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The business had revenue of $59.57 million for the quarter, compared to analysts’ expectations 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 predict that Neptune Insurance Holdings Inc. will post 0.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NP. Evercore reiterated an “outperform” rating and set a $36.00 price objective on shares of Neptune Insurance in a research note on Wednesday, July 22nd. Mizuho raised their target price on Neptune Insurance from $31.00 to $33.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 21st. Weiss Ratings upgraded Neptune Insurance from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 23rd. Wells Fargo & Company decreased their price target on Neptune Insurance from $37.00 to $34.00 and set an “overweight” rating on the stock in a research report on Monday, October 12th. Finally, BMO Capital Markets downgraded shares of Neptune Insurance from an “outperform” rating to a “market perform” rating and set a $32.00 price target on the stock. in a report on Thursday, July 30th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.29.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Public Sector Pension Investment Board bought a new position in shares of Neptune Insurance in the third quarter worth $6,017,000. Fifth Third Bancorp boosted its stake in Neptune Insurance by 30.2% during 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 during the period. State of Wyoming boosted its stake in Neptune Insurance by 80.7% during the third 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 period. Nisa Investment Advisors LLC grew its position in Neptune Insurance by 41.1% during the third quarter. Nisa Investment Advisors LLC now owns 1,727 shares of the company’s stock worth $47,000 after buying an additional 503 shares in the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in Neptune Insurance during the third quarter worth about $105,000.

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.