Neptune Insurance (NYSE:NP) CEO Trevor Burgess Sells 53,669 Shares of Company Stock

Neptune Insurance Holdings Inc. (NYSE:NP) CEO Trevor Burgess sold 53,669 shares of the stock in a transaction 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 sale, the chief executive officer owned 2,255,003 shares of the company’s stock, valued at approximately $65,507,837.15. This represents a 2.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neptune Insurance Stock Down 0.7%

Shares of Neptune Insurance stock traded down $0.21 during trading on Tuesday, reaching $29.15. The company’s stock had a trading volume of 593,559 shares, compared to its average volume of 593,945. Neptune Insurance Holdings Inc. has a 1-year low of $14.78 and a 1-year high of $35.15. The company has a 50-day simple moving average of $29.91 and a two-hundred day simple moving average of $27.50. The company has a market cap of $4.00 billion and a price-to-earnings ratio of 91.11.

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

Institutional Inflows and Outflows

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

Analysts Set New Price Targets

Several equities analysts recently commented on NP shares. Piper Sandler reaffirmed an “overweight” rating on shares of Neptune Insurance in a research report on Monday, October 19th. Wells Fargo & Company dropped their target price on shares of Neptune Insurance from $37.00 to $34.00 and set an “overweight” rating on the stock in a research report on Monday, October 12th. Keefe, Bruyette & Woods raised their price target on shares of Neptune Insurance from $32.00 to $33.00 and gave the stock a “market perform” rating in a report on Wednesday, October 21st. Weiss Ratings upgraded shares of Neptune Insurance from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 23rd. Finally, Mizuho lifted their price objective on shares of Neptune Insurance from $31.00 to $33.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 21st. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.29.

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.