Neptune Insurance (NYSE:NP) CEO Sells $1,684,817.40 in Stock

Neptune Insurance Holdings Inc. (NYSE:NP) CEO Trevor Burgess sold 57,190 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $29.46, for a total value of $1,684,817.40. Following the completion of the sale, the chief executive officer owned 2,197,813 shares of the company’s stock, valued at $64,747,570.98. This represents a 2.54% decrease in their position. The sale was disclosed in a document filed 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 Down 2.6%

Shares of NYSE:NP opened at $27.82 on Friday. 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 capitalization of $3.84 billion and a PE ratio of 86.93. The business’s 50 day moving average is $29.58 and its 200-day moving average is $27.54.

Neptune Insurance (NYSE:NP) last released its quarterly earnings data 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 negative return on equity of 26.63% and a net margin of 22.71%. On average, sell-side analysts predict that Neptune Insurance Holdings Inc. will post 0.41 EPS for the current year.

Analysts Set New Price Targets

NP has been the topic of several analyst reports. Morgan Stanley lowered their price target on shares of Neptune Insurance from $36.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, October 22nd. Piper Sandler restated an “overweight” rating on shares of Neptune Insurance in a research note on Monday, October 19th. Weiss Ratings raised shares of Neptune Insurance from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 23rd. Mizuho lifted their target price on shares of Neptune Insurance from $31.00 to $33.00 and gave the company a “neutral” rating in a research report on Wednesday, October 21st. Finally, BMO Capital Markets cut shares of Neptune Insurance from an “outperform” rating to a “market perform” rating and set a $32.00 target price on the stock. in a research note on Thursday, July 30th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Neptune Insurance presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.29.

Hedge Funds Weigh In On Neptune Insurance

Hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC lifted its holdings in shares of Neptune Insurance by 874.4% during the first quarter. Renaissance Technologies LLC now owns 160,703 shares of the company’s stock valued at $3,887,000 after acquiring an additional 144,210 shares during the period. Fifth Third Bancorp bought a new stake in shares of Neptune Insurance in the 1st quarter worth about $1,531,000. Swiss National Bank bought a new stake in shares of Neptune Insurance in the 1st quarter worth about $1,132,000. BlueCrest Capital Management Ltd bought a new stake in shares of Neptune Insurance in the 2nd quarter worth about $1,418,000. Finally, Sei Investments Co. increased its position in shares of Neptune Insurance by 203.3% during the 1st quarter. Sei Investments Co. now owns 59,114 shares of the company’s stock worth $1,430,000 after purchasing an additional 39,626 shares in the last quarter.

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.