Neptune Insurance (NYSE:NP) Stock: Insider Trevor Burgess Sells 4,431 Shares

Key Points

• CEO Trevor Burgess sold 4,431 shares for about $122,429 at an average price of $27.63 under a pre-arranged Rule 10b5-1 plan; he still directly owns roughly 1.90 million 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.
• Analysts’ average rating is Moderate Buy, with an average price target of $32.29; recent target changes were mixed.

Neptune Insurance Holdings Inc. (NYSE:NP - Get Free Report) CEO Trevor Burgess sold 4,431 shares of Neptune Insurance stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $27.63, for a total transaction of $122,428.53. Following the transaction, the chief executive officer directly owned 1,902,520 shares in the company, valued at approximately $52,566,627.60. This represents a 0.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neptune Insurance Trading Up 0.2%

Shares of NP stock traded up $0.05 during trading on Tuesday, hitting $28.22. The company's stock had a trading volume of 511,053 shares, compared to its average volume of 598,451. The company has a market cap of $3.90 billion and a PE ratio of 88.20. The business has a fifty day moving average of $29.34 and a 200-day moving average of $27.56. Neptune Insurance Holdings Inc. has a 52 week low of $14.78 and a 52 week high of $35.15.

Neptune Insurance (NYSE:NP - Get Free Report) last issued its quarterly earnings results on Tuesday, October 20th. The company reported $0.17 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $56.59 million. As a group, research analysts predict that Neptune Insurance Holdings Inc. will post 0.41 EPS for the current year.

Analyst Ratings Changes

NP has been the topic of a number of recent analyst reports. Morgan Stanley lowered their target price 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. Keefe, Bruyette & Woods raised their price objective 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. Wells Fargo & Company lowered 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 report on Monday, October 12th. Mizuho boosted their target price on shares of Neptune Insurance from $31.00 to $33.00 and gave the company a "neutral" rating in a research note on Wednesday, October 21st. Finally, Evercore reissued an "outperform" rating and set a $36.00 target price on shares of Neptune Insurance in a research report on Wednesday, July 22nd. Seven investment 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 presently has an average rating of "Moderate Buy" and an average price target of $32.29.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NP. Public Sector Pension Investment Board bought a new position in shares of Neptune Insurance during the 3rd quarter worth $6,017,000. Renaissance Technologies LLC increased its holdings in Neptune Insurance by 874.4% in the 1st 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 during the last quarter. Walleye Capital LLC raised its stake in Neptune Insurance by 17.3% in the 1st quarter. Walleye Capital LLC now owns 135,364 shares of the company's stock valued at $3,274,000 after acquiring an additional 20,000 shares during the period. Fifth Third Bancorp raised its stake in Neptune Insurance by 30.2% in the 3rd quarter. Fifth Third Bancorp now owns 82,615 shares of the company's stock valued at $2,260,000 after acquiring an additional 19,165 shares during the period. Finally, Sei Investments Co. lifted its holdings in Neptune Insurance by 203.3% during the first quarter. Sei Investments Co. now owns 59,114 shares of the company's stock valued at $1,430,000 after purchasing an additional 39,626 shares during the last quarter.

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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