Neptune Insurance (NYSE:NP) CEO Trevor Burgess Sells 66,568 Shares of Stock

Key Points

• CEO Trevor Burgess sold 66,568 Neptune Insurance shares for about $1.84 million at an average price of $27.68. The sale was made under a pre-arranged Rule 10b5-1 plan; he retained 1,906,951 shares.
• Neptune’s latest quarterly results beat expectations, reporting EPS of $0.17 versus $0.16 forecast and revenue of $59.57 million versus $56.59 million expected.
• Analysts have a Moderate Buy consensus and an average $32.29 price target; shares were trading at $28.15 in Monday midday trading.

Neptune Insurance Holdings Inc. (NYSE:NP - Get Free Report) CEO Trevor Burgess sold 66,568 shares of the stock in a transaction on Friday, November 6th. The shares were sold at an average price of $27.68, for a total transaction of $1,842,602.24. Following the completion of the transaction, the chief executive officer owned 1,906,951 shares of the company's stock, valued at approximately $52,784,403.68. This represents a 3.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neptune Insurance Stock Performance

Shares of NYSE:NP traded up $0.24 during midday trading on Monday, reaching $28.15. 876,926 shares of the company's stock were exchanged, compared to its average volume of 598,857. The company's 50 day simple moving average is $29.46 and its two-hundred day simple moving average is $27.55. Neptune Insurance Holdings Inc. has a 12 month low of $14.78 and a 12 month high of $35.15. The firm has a market capitalization of $3.89 billion and a PE ratio of 87.96.

Neptune Insurance (NYSE:NP - Get Free Report) last posted its earnings results on Tuesday, October 20th. The company reported $0.17 earnings per share 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 business had revenue of $59.57 million for the quarter, compared to analysts' expectations of $56.59 million. On average, research analysts anticipate that Neptune Insurance Holdings Inc. will post 0.41 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NP shares. JPMorgan Chase & Co. upped their price objective on Neptune Insurance from $26.00 to $30.00 and gave the company a "neutral" rating in a research note on Monday, July 13th. BMO Capital Markets cut Neptune Insurance from an "outperform" rating to a "market perform" rating and set a $32.00 target price for the company. in a report on Thursday, July 30th. Keefe, Bruyette & Woods raised their target price on Neptune Insurance from $32.00 to $33.00 and gave the stock a "market perform" rating in a research report on Wednesday, October 21st. Morgan Stanley decreased their price target on Neptune Insurance from $36.00 to $35.00 and set an "overweight" rating on the stock in a research note on Thursday, October 22nd. Finally, Piper Sandler reiterated an "overweight" rating on shares of Neptune Insurance in a research report on Monday, October 19th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $32.29.

Hedge Funds Weigh In On Neptune Insurance

Several institutional investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp increased its holdings in shares of Neptune Insurance by 30.2% during the third quarter. Fifth Third Bancorp now owns 82,615 shares of the company's stock worth $2,260,000 after buying an additional 19,165 shares in the last quarter. State of Wyoming raised its stake in shares of Neptune Insurance by 80.7% in the third 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 during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Neptune Insurance by 41.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,727 shares of the company's stock worth $47,000 after acquiring an additional 503 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Neptune Insurance in the 3rd quarter worth approximately $105,000. Finally, BlueCrest Capital Management Ltd acquired a new position in shares of Neptune Insurance in the 2nd quarter worth approximately $1,418,000.

Neptune Insurance Company Profile

Neptune Insurance is a technology-enabled provider of private flood insurance. Founded in 2016, the company uses data analytics and risk modeling to assess flood exposure and support policy underwriting and distribution.

Its products include flood coverage for residential and commercial properties, with options for protection of buildings and contents. Neptune distributes its policies through a network of insurance agents and serves customers across the United States.

Founder Trevor Burgess has served as the company's chief executive officer.

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