Neptune Insurance (NYSE:NP) CEO Trevor Burgess Sells 57,190 Shares of Stock

Key Points

• Neptune Insurance CEO Trevor Burgess sold 57,190 shares for about $1.68 million, reducing his position by 2.54%; the sale was made under a pre-arranged Rule 10b5-1 plan. He still owns approximately 2.20 million shares.
• The company beat quarterly estimates, reporting EPS of $0.17 versus $0.16 expected and revenue of $59.57 million versus $56.59 million expected.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $32.29; the stock recently traded at $29.15.

Neptune Insurance Holdings Inc. (NYSE:NP - Get Free Report) CEO Trevor Burgess sold 57,190 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer owned 2,197,813 shares in the company, valued at approximately $64,747,570.98. This trade represents a 2.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neptune Insurance Stock Performance

Shares of Neptune Insurance stock traded down $0.21 on Tuesday, reaching $29.15. The stock had a trading volume of 593,559 shares, compared to its average volume of 593,945. The stock has a market cap of $4.00 billion and a P/E ratio of 91.11. Neptune Insurance Holdings Inc. has a fifty-two week low of $14.78 and a fifty-two week high of $35.15. The business's 50-day moving average price is $29.91 and its two-hundred day moving average price is $27.50.

Neptune Insurance (NYSE:NP - Get Free Report) last released its quarterly earnings results 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. 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 during the quarter, compared to analysts' expectations of $56.59 million. As a group, equities analysts forecast that Neptune Insurance Holdings Inc. will post 0.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Neptune Insurance

Several institutional investors and hedge funds have recently bought and sold shares of NP. State of Wyoming raised its position in Neptune Insurance by 80.7% in the third quarter. State of Wyoming now owns 5,026 shares of the company's stock worth $137,000 after purchasing an additional 2,244 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in 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 acquired a new stake in Neptune Insurance during the third quarter valued at approximately $105,000. BlueCrest Capital Management Ltd acquired a new stake in Neptune Insurance during the second quarter valued at approximately $1,418,000. Finally, Arizona State Retirement System bought a new stake in shares of Neptune Insurance in the 2nd quarter valued at approximately $329,000.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. BMO Capital Markets lowered shares of Neptune Insurance from an "outperform" rating to a "market perform" rating and set a $32.00 price objective for the company. in a research report on Thursday, July 30th. Mizuho lifted their target price on Neptune Insurance from $31.00 to $33.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 21st. JPMorgan Chase & Co. boosted their price target on Neptune Insurance from $26.00 to $30.00 and gave the company a "neutral" rating in a research note on Monday, July 13th. Morgan Stanley cut their price target on Neptune Insurance from $36.00 to $35.00 and set an "overweight" rating for the company in a report on Thursday, October 22nd. Finally, Weiss Ratings upgraded Neptune Insurance from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, October 23rd. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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