Neptune Insurance (NYSE:NP) Insider Sells $1,099,522.79 in Stock

Neptune Insurance Holdings Inc. (NYSE:NP) insider Matthew Duffy sold 39,737 shares of the company’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $27.67, for a total transaction of $1,099,522.79. Following the sale, the insider owned 2,005,631 shares of the company’s stock, valued at $55,495,809.77. This trade represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Matthew Paul Duffy also recently made the following trade(s):

• On Tuesday, October 6th, Matthew Duffy sold 41,392 shares of Neptune Insurance stock. The stock was sold at an average price of $27.15, for a total value of $1,123,792.80.

Neptune Insurance Stock Up 2.1%

Shares of NYSE:NP opened at $27.76 on Thursday. The company has a market cap of $3.81 billion and a price-to-earnings ratio of 111.04. The business has a 50 day moving average price of $31.00 and a 200 day moving average price of $28.99. Neptune Insurance Holdings Inc. has a twelve month low of $14.78 and a twelve month high of $35.15.

Neptune Insurance (NYSE:NP) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. Neptune Insurance had a negative return on equity of 18.77% and a net margin of 21.45%.The company had revenue of $55.87 million during the quarter, compared to analyst estimates of $52.38 million. Analysts anticipate that Neptune Insurance Holdings Inc. will post 0.4 EPS for the current year.

Institutional Trading of Neptune Insurance

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. boosted its holdings in Neptune Insurance by 73.3% during the first quarter. PNC Financial Services Group Inc. now owns 7,440 shares of the company’s stock valued at $180,000 after purchasing an additional 3,146 shares in the last quarter. Grandeur Peak Global Advisors LLC raised its holdings in shares of Neptune Insurance by 22.0% in the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 18,512 shares of the company’s stock worth $583,000 after buying an additional 3,339 shares in the last quarter. AXQ Capital LP bought a new position in shares of Neptune Insurance during the 2nd quarter worth approximately $296,000. FJ Capital Management LLC bought a new position in shares of Neptune Insurance during the 4th quarter worth approximately $289,000. Finally, Arizona State Retirement System acquired a new stake in Neptune Insurance in the 2nd quarter valued at $329,000.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NP. Mizuho decreased their target price on Neptune Insurance from $32.00 to $31.00 and set a “neutral” rating on the stock in a research report on Wednesday. Morgan Stanley raised Neptune Insurance from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $31.00 to $36.00 in a report on Wednesday, August 19th. Wells Fargo & Company lifted their price objective on Neptune Insurance from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. JPMorgan Chase & Co. boosted their price objective on Neptune Insurance from $26.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Finally, Piper Sandler upped their target price on Neptune Insurance from $30.00 to $39.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Eight equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.75.

Neptune Insurance Company Profile

Neptune Insurance is a technology-enabled insurance company focused on providing flood insurance coverage for residential and commercial property owners. Its offerings are designed to complement or supplement coverage available through the National Flood Insurance Program and traditional homeowners’ insurance policies, which generally provide limited protection against flood damage.

The company distributes its policies through insurance agents and brokers, using a digital platform intended to streamline quoting, underwriting, policy management and claims handling.