Neptune Insurance Holdings Inc. (NYSE:NP – Get Free Report) CEO Trevor Burgess sold 66,568 shares of the firm’s stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $27.68, for a total transaction of $1,842,602.24. Following the transaction, the chief executive officer directly owned 1,906,951 shares in the company, valued at approximately $52,784,403.68. This trade represents a 3.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Neptune Insurance Stock Performance
Neptune Insurance stock opened at $28.41 on Thursday. The company has a market capitalization of $3.93 billion and a PE ratio of 68.83. The company has a 50 day moving average price of $29.15 and a 200-day moving average price of $27.60. Neptune Insurance Holdings Inc. has a fifty-two week low of $14.78 and a fifty-two week high of $35.15.
Neptune Insurance (NYSE:NP – Get Free Report) last announced its quarterly earnings data on Tuesday, October 20th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.01. The company had revenue of $59.57 million for the quarter, compared to analysts’ expectations of $56.59 million. Neptune Insurance had a negative return on equity of 26.63% and a net margin of 22.71%. On average, analysts forecast that Neptune Insurance Holdings Inc. will post 0.41 earnings per share for the current year.
Hedge Funds Weigh In On Neptune Insurance
Several institutional investors have recently bought and sold shares of the business. USS Investment Management Ltd raised its stake in Neptune Insurance by 152.0% in the third quarter. USS Investment Management Ltd now owns 311,686 shares of the company’s stock worth $8,523,000 after buying an additional 187,996 shares in the last quarter. Public Sector Pension Investment Board purchased a new stake in Neptune Insurance during the third quarter worth $6,017,000. Renaissance Technologies LLC boosted its position in Neptune Insurance by 874.4% during the 1st quarter. Renaissance Technologies LLC now owns 160,703 shares of the company’s stock valued at $3,887,000 after acquiring an additional 144,210 shares in the last quarter. Walleye Capital LLC boosted its position in Neptune Insurance by 17.3% during 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 in the last quarter. Finally, Fifth Third Bancorp boosted its position in Neptune Insurance by 30.2% during 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 in the last quarter.
Analyst Ratings Changes
Several brokerages have weighed in on NP. 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. Deutsche Bank restated a “buy” rating on shares of Neptune Insurance in a research note on Wednesday, September 23rd. Mizuho lifted their price objective on Neptune Insurance from $31.00 to $33.00 and gave the company a “neutral” rating in a report on Wednesday, October 21st. Keefe, Bruyette & Woods upped their price objective on shares of Neptune Insurance from $32.00 to $33.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 21st. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Neptune Insurance in a research note on Monday, October 19th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Neptune Insurance presently has a consensus rating of “Moderate Buy” and an average target price of $32.29.
Check Out Our Latest Stock Report on Neptune Insurance
About Neptune Insurance
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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