Neptune Insurance (NYSE:NP) Stock: Insider Trevor Burgess Sells 53,669 Shares

Neptune Insurance Holdings Inc. (NYSE:NP) CEO Trevor Burgess sold 53,669 shares of the company’s stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $29.05, for a total value of $1,559,084.45. Following the completion of the sale, the chief executive officer owned 2,255,003 shares in the company, valued at $65,507,837.15. The trade was a 2.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neptune Insurance Stock Performance

Neptune Insurance stock opened at $28.54 on Thursday. 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 price of $29.71 and a two-hundred day moving average price of $27.53. The firm has a market cap of $3.94 billion and a price-to-earnings ratio of 71.34.

Neptune Insurance (NYSE:NP) last posted its quarterly earnings data on Tuesday, October 20th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. Neptune Insurance had a net margin of 22.71% and a negative return on equity of 26.63%. The company had revenue of $59.57 million for the quarter, compared to analyst estimates of $56.59 million. As a group, equities 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 analysts have commented on NP shares. Morgan Stanley cut their price target on shares of Neptune Insurance from $36.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, October 22nd. Piper Sandler reissued an “overweight” rating on shares of Neptune Insurance in a research report on Monday, October 19th. Keefe, Bruyette & Woods lifted their price objective on Neptune Insurance from $32.00 to $33.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 21st. Weiss Ratings raised Neptune Insurance from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 23rd. Finally, Mizuho upped their target price on Neptune Insurance from $31.00 to $33.00 and gave the company a “neutral” rating in a research report on Wednesday, October 21st. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Neptune Insurance currently has a consensus rating of “Moderate Buy” and an average target price of $32.29.

Institutional Trading of Neptune Insurance

Several large investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its stake in shares of Neptune Insurance by 41.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,727 shares of the company’s stock valued at $47,000 after acquiring an additional 503 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Neptune Insurance during the 3rd quarter valued at $105,000. State of Wyoming lifted its position in shares of Neptune Insurance by 80.7% during the 3rd quarter. State of Wyoming now owns 5,026 shares of the company’s stock valued at $137,000 after acquiring an additional 2,244 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Neptune Insurance by 73.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,440 shares of the company’s stock valued at $180,000 after acquiring an additional 3,146 shares during the period. Finally, AXQ Capital LP bought a new position in Neptune Insurance during the second quarter worth $296,000.

About Neptune Insurance

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.