Neptune Insurance (NYSE:NP) CEO Sells $1,253,114.34 in Stock

Key Points

• CEO Trevor Burgess sold 43,018 shares for about $1.25 million under a pre-arranged Rule 10b5-1 plan, reducing his stake by 1.96%; he retained 2,154,795 shares.
• Neptune reported quarterly EPS of $0.17, beating the $0.16 consensus, and revenue of $59.57 million, above the $56.59 million estimate.
• Shares fell 2.6% to $27.82. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $32.29.

Neptune Insurance Holdings Inc. (NYSE:NP - Get Free Report) CEO Trevor Burgess sold 43,018 shares of the firm's stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $29.13, for a total value of $1,253,114.34. Following the transaction, the chief executive officer directly owned 2,154,795 shares of the company's stock, valued at $62,769,178.35. The trade was a 1.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neptune Insurance Trading Down 2.6%

Shares of NYSE NP traded down $0.73 during trading on Thursday, reaching $27.82. The company had a trading volume of 999,311 shares, compared to its average volume of 596,593. Neptune Insurance Holdings Inc. has a twelve month low of $14.78 and a twelve month high of $35.15. The stock has a 50-day moving average price of $29.71 and a two-hundred day moving average price of $27.53. The stock has a market capitalization of $3.84 billion and a PE ratio of 86.93.

Neptune Insurance (NYSE:NP - Get Free Report) 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. The business had revenue of $59.57 million for the quarter, compared to analyst estimates 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.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Neptune Insurance from $26.00 to $30.00 and gave the company a "neutral" rating in a report on Monday, July 13th. BMO Capital Markets downgraded shares of Neptune Insurance from an "outperform" rating to a "market perform" rating and set a $32.00 price target for the company. in a report on Thursday, July 30th. Weiss Ratings raised shares of Neptune Insurance from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, October 23rd. Wells Fargo & Company reduced 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. Finally, Keefe, Bruyette & Woods raised their target price on shares of Neptune Insurance from $32.00 to $33.00 and gave the company a "market perform" rating in a research note 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $32.29.

Hedge Funds Weigh In On Neptune Insurance

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlueCrest Capital Management Ltd acquired a new stake in shares of Neptune Insurance during the second quarter valued at about $1,418,000. Sei Investments Co. increased its position in shares of Neptune Insurance by 203.3% during the first quarter. Sei Investments Co. now owns 59,114 shares of the company's stock worth $1,430,000 after acquiring an additional 39,626 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Neptune Insurance by 562.1% in the first quarter. Bank of America Corp DE now owns 37,496 shares of the company's stock worth $907,000 after acquiring an additional 31,833 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Neptune Insurance by 874.4% in the first quarter. Renaissance Technologies LLC now owns 160,703 shares of the company's stock worth $3,887,000 after acquiring an additional 144,210 shares in the last quarter. Finally, SummitTX Capital L.P. purchased a new position in Neptune Insurance in the first quarter valued at about $898,000.

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.

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