Neptune Insurance (NYSE:NP) Insider Sells $1,123,792.80 in Stock

Neptune Insurance Holdings Inc. (NYSE:NP) insider Matthew Duffy sold 41,392 shares of the stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $27.15, for a total value of $1,123,792.80. Following the completion of the transaction, the insider directly owned 1,964,239 shares in the company, valued at approximately $53,329,088.85. This trade represents a 2.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Matthew Paul Duffy also recently made the following trade(s):

• On Thursday, October 8th, Matthew Duffy sold 84,441 shares of Neptune Insurance stock. The shares were sold at an average price of $28.10, for a total value of $2,372,792.10.
• On Friday, October 2nd, Matthew Duffy sold 39,737 shares of Neptune Insurance stock. The shares were sold at an average price of $27.67, for a total value of $1,099,522.79.

Neptune Insurance Trading Up 0.7%

Shares of NP opened at $28.64 on Friday. Neptune Insurance Holdings Inc. has a 1 year low of $14.78 and a 1 year high of $35.15. The stock has a market cap of $3.93 billion and a P/E ratio of 114.55. The stock’s 50-day moving average price is $30.87 and its two-hundred day moving average price is $29.04.

Neptune Insurance (NYSE:NP) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. The company had revenue of $55.87 million during the quarter, compared to analysts’ expectations of $52.38 million. Neptune Insurance had a negative return on equity of 18.77% and a net margin of 21.45%. As a group, equities analysts forecast that Neptune Insurance Holdings Inc. will post 0.40 EPS for the current year.

Institutional Investors Weigh In On Neptune Insurance

Institutional investors have recently added to or reduced their stakes in the stock. Bregal Sagemount IV General Partner Jersey Ltd bought a new position in Neptune Insurance during the 4th quarter worth about $569,509,000. Capital World Investors bought a new stake in shares of Neptune Insurance in the fourth quarter valued at about $32,091,000. Azora Capital LP acquired a new position in shares of Neptune Insurance during the fourth quarter worth about $21,695,000. Capital International Investors bought a new position in shares of Neptune Insurance during the fourth quarter worth about $20,412,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Neptune Insurance by 874.4% during the first quarter. Renaissance Technologies LLC now owns 160,703 shares of the company’s stock worth $3,887,000 after buying an additional 144,210 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Neptune Insurance from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Mizuho decreased their price target on shares of Neptune Insurance from $32.00 to $31.00 and set a “neutral” rating for the company in a report on Wednesday. Evercore restated an “outperform” rating and issued a $36.00 price objective on shares of Neptune Insurance in a research report on Wednesday, July 22nd. Wells Fargo & Company raised their price objective on Neptune Insurance from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Finally, Morgan Stanley upgraded Neptune Insurance from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $31.00 to $36.00 in a report on Wednesday, August 19th. Eight equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Neptune Insurance currently has a consensus rating of “Moderate Buy” and an average target price of $31.75.

About Neptune Insurance

Neptune Insurance is a technology-enabled insurance company focused on providing flood insurance coverage for residential and commercial property owners. Its offerings are designed to complement or supplement coverage available through the National Flood Insurance Program and traditional homeowners’ insurance policies, which generally provide limited protection against flood damage.

The company distributes its policies through insurance agents and brokers, using a digital platform intended to streamline quoting, underwriting, policy management and claims handling.