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 company’s stock in a transaction on Monday, November 2nd. The shares were 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 in the company, valued at $64,747,570.98. This trade represents a 2.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neptune Insurance Stock Down 0.7%

Neptune Insurance stock traded down $0.21 during mid-day trading on Tuesday, hitting $29.15. 593,559 shares of the company were exchanged, compared to its average volume of 593,945. The business has a fifty day moving average of $29.91 and a 200 day moving average of $27.50. Neptune Insurance Holdings Inc. has a 1-year low of $14.78 and a 1-year high of $35.15. The company has a market capitalization of $4.00 billion and a PE ratio of 91.11.

Neptune Insurance (NYSE:NP) last issued its earnings results on Tuesday, October 20th. The company reported $0.17 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $56.59 million. Research analysts expect that Neptune Insurance Holdings Inc. will post 0.41 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NP. Nisa Investment Advisors LLC lifted its position in Neptune Insurance by 41.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,727 shares of the company’s stock worth $47,000 after buying an additional 503 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in Neptune Insurance in the 3rd quarter valued at about $105,000. State of Wyoming increased its position in Neptune Insurance by 80.7% in 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 in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Neptune Insurance by 73.3% in the first quarter. PNC Financial Services Group Inc. now owns 7,440 shares of the company’s stock worth $180,000 after acquiring an additional 3,146 shares during the last quarter. Finally, AXQ Capital LP bought a new position in shares of Neptune Insurance in the second quarter worth about $296,000.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Neptune Insurance from $26.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. 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. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Neptune Insurance in a report on Wednesday, September 23rd. Evercore restated an “outperform” rating and set a $36.00 price target on shares of Neptune Insurance in a research report on Wednesday, July 22nd. Finally, Mizuho raised their price target on Neptune Insurance from $31.00 to $33.00 and gave the company a “neutral” rating in a report on Wednesday, October 21st. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.