Neptune Insurance (NYSE:NP) CEO Sells $2,905,896.75 in Stock

Neptune Insurance Holdings Inc. (NYSE:NP) CEO Trevor Burgess sold 104,717 shares of the business’s stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $27.75, for a total value of $2,905,896.75. Following the sale, the chief executive officer owned 1,973,519 shares in the company, valued at approximately $54,765,152.25. The trade was a 5.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neptune Insurance Trading Up 0.8%

Shares of NP stock traded up $0.24 during mid-day trading on Monday, reaching $28.15. The stock had a trading volume of 876,926 shares, compared to its average volume of 598,857. Neptune Insurance Holdings Inc. has a 1-year low of $14.78 and a 1-year high of $35.15. The firm has a market cap of $3.89 billion and a price-to-earnings ratio of 87.96. The business’s fifty day moving average is $29.46 and its 200-day moving average is $27.55.

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

Analysts Set New Price Targets

Several analysts have commented on the stock. Morgan Stanley decreased their price objective on shares of Neptune Insurance from $36.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, October 22nd. Wells Fargo & Company cut their price objective on shares of Neptune Insurance from $37.00 to $34.00 and set an “overweight” rating on the stock in a research note on Monday, October 12th. BMO Capital Markets cut shares of Neptune Insurance from an “outperform” rating to a “market perform” rating and set a $32.00 target price for the company. in a report on Thursday, July 30th. Weiss Ratings upgraded shares of Neptune Insurance from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 23rd. Finally, Keefe, Bruyette & Woods upped their price target on shares of Neptune Insurance from $32.00 to $33.00 and gave the company a “market perform” rating in a report on Wednesday, October 21st. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Neptune Insurance has a consensus rating of “Moderate Buy” and a consensus price target of $32.29.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Fifth Third Bancorp lifted its stake in shares of Neptune Insurance by 30.2% in the 3rd quarter. Fifth Third Bancorp now owns 82,615 shares of the company’s stock valued at $2,260,000 after purchasing an additional 19,165 shares during the period. State of Wyoming grew its position 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 valued at $47,000 after buying an additional 503 shares during the period. State of Alaska Department of Revenue purchased a new position in Neptune Insurance in the third quarter valued at $105,000. Finally, BlueCrest Capital Management Ltd acquired a new position in shares of Neptune Insurance in the second quarter worth about $1,418,000.

Neptune Insurance Company Profile

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.