Neptune Insurance (NYSE:NP) Stock: Insider Matthew Paul Duffy Sells 88,000 Shares

Neptune Insurance Holdings Inc. (NYSE:NP) insider Matthew Duffy sold 88,000 shares of Neptune Insurance stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $28.03, for a total value of $2,466,640.00. Following the transaction, the insider directly owned 1,791,798 shares in the company, valued at approximately $50,224,097.94. The trade was a 4.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, November 10th, Matthew Duffy sold 86,000 shares of Neptune Insurance stock. The shares were sold at an average price of $28.04, for a total transaction of $2,411,440.00.
• On Thursday, October 8th, Matthew Duffy sold 84,441 shares of Neptune Insurance stock. The stock was sold at an average price of $28.10, for a total transaction of $2,372,792.10.
• On Tuesday, October 6th, Matthew Duffy sold 41,392 shares of Neptune Insurance stock. The stock was sold at an average price of $27.15, for a total transaction of $1,123,792.80.
• 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 Price Performance

Shares of NYSE:NP traded up $0.06 on Thursday, reaching $28.54. 311,749 shares of the company traded hands, compared to its average volume of 597,093. The stock has a market capitalization of $3.94 billion and a PE ratio of 89.18. The company’s 50 day moving average is $29.15 and its 200-day moving average is $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) last issued its earnings results on Tuesday, October 20th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The business 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%. As a group, analysts expect that Neptune Insurance Holdings Inc. will post 0.41 EPS for the current year.

Institutional Trading of Neptune Insurance

A number of hedge funds have recently made changes to their positions in NP. USS Investment Management Ltd lifted its position in Neptune Insurance by 152.0% in the 3rd 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 acquired a new stake in Neptune Insurance during the third quarter valued at $6,017,000. Fifth Third Bancorp grew its stake in Neptune Insurance by 30.2% in the third quarter. Fifth Third Bancorp now owns 82,615 shares of the company’s stock valued at $2,260,000 after purchasing an additional 19,165 shares in the last quarter. State of Wyoming increased its position in Neptune Insurance by 80.7% in the 3rd quarter. State of Wyoming now owns 5,026 shares of the company’s stock worth $137,000 after purchasing an additional 2,244 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in 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 purchasing an additional 503 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. BMO Capital Markets downgraded Neptune Insurance from an “outperform” rating to a “market perform” rating and set a $32.00 price objective on the stock. in a report on Thursday, July 30th. Weiss Ratings raised shares of Neptune Insurance from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 23rd. Wells Fargo & Company dropped their target price 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. Deutsche Bank restated a “buy” rating on shares of Neptune Insurance in a report on Wednesday, September 23rd. Finally, Mizuho raised their price objective on shares of Neptune Insurance from $31.00 to $33.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 21st. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $32.29.

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.