Neptune Insurance (NYSE:NP) CEO Trevor Burgess Sells 57,190 Shares of Company Stock

Neptune Insurance Holdings Inc. (NYSE:NP) CEO Trevor Burgess sold 57,190 shares of the stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $29.46, for a total transaction of $1,684,817.40. Following the completion of the transaction, the chief executive officer directly owned 2,197,813 shares of the company’s stock, valued at $64,747,570.98. The trade was a 2.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 Down 0.7%

NP stock opened at $29.15 on Wednesday. The stock has a market capitalization of $4.03 billion and a PE ratio of 71.61. Neptune Insurance Holdings Inc. has a 52 week low of $14.78 and a 52 week high of $35.15. The firm has a 50 day moving average of $29.83 and a 200 day moving average of $27.51.

Neptune Insurance (NYSE:NP) last issued its quarterly 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 analyst estimates of $56.59 million. Neptune Insurance had a net margin of 22.71% and a negative return on equity of 26.63%. On average, equities research analysts expect that Neptune Insurance Holdings Inc. will post 0.41 earnings per share for the current year.

Institutional Trading of Neptune Insurance

A number of hedge funds and other institutional investors have recently made changes to their positions in NP. Renaissance Technologies LLC boosted its holdings in Neptune Insurance by 874.4% in the first quarter. Renaissance Technologies LLC now owns 160,703 shares of the company’s stock valued at $3,887,000 after purchasing an additional 144,210 shares during the last quarter. Fifth Third Bancorp purchased a new position in shares of Neptune Insurance during the 1st quarter valued at about $1,531,000. Swiss National Bank acquired a new position in shares of Neptune Insurance in the 1st quarter valued at about $1,132,000. BlueCrest Capital Management Ltd acquired a new position in shares of Neptune Insurance in the 2nd quarter valued at about $1,418,000. Finally, Sei Investments Co. boosted its stake 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 buying an additional 39,626 shares during the last quarter.

Analyst Ratings Changes

NP has been the subject of a number of research analyst reports. BMO Capital Markets lowered Neptune Insurance from an “outperform” rating to a “market perform” rating and set a $32.00 target price for the company. in a research note on Thursday, July 30th. JPMorgan Chase & Co. boosted their price target on Neptune Insurance from $26.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. Mizuho increased their price objective on Neptune Insurance from $31.00 to $33.00 and gave the company a “neutral” rating in a report on Wednesday, October 21st. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Neptune Insurance in a research note on Wednesday, September 23rd. Finally, Weiss Ratings raised Neptune Insurance from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 23rd. Seven equities research 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, Neptune Insurance has a consensus rating of “Moderate Buy” and an average price target of $32.29.

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.