Neptune Insurance (NYSE:NP) Director Sells $1,557,500.00 in Stock

by · The Markets Daily

Neptune Insurance Holdings Inc. (NYSE:NP – Get Free Report) Director Jonathan Carlon sold 50,000 shares of the business’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $31.15, for a total value of $1,557,500.00. Following the sale, the director owned 603,500 shares of the company’s stock, valued at approximately $18,799,025. This represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Neptune Insurance Stock Down 0.7%

Shares of NYSE:NP opened at $30.31 on Friday. The stock has a market capitalization of $4.16 billion and a PE ratio of 121.23. The firm’s 50 day moving average price is $32.00 and its 200-day moving average price is $28.33. Neptune Insurance Holdings Inc. has a twelve month low of $14.78 and a twelve month high of $35.15.

Neptune Insurance (NYSE:NP – Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.01. Neptune Insurance had a net margin of 21.45% and a negative return on equity of 18.77%. The business had revenue of $55.87 million for the quarter, compared to the consensus estimate of $52.38 million. Analysts expect that Neptune Insurance Holdings Inc. will post 0.4 earnings per share for the current fiscal year.

Institutional Trading of Neptune Insurance

A number of large investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its holdings in Neptune Insurance by 73.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,440 shares of the company’s stock valued at $180,000 after buying an additional 3,146 shares during the period. AXQ Capital LP bought a new position in Neptune Insurance during the second quarter valued at $296,000. FJ Capital Management LLC purchased a new stake in shares of Neptune Insurance in the fourth quarter valued at $289,000. BIT Capital GmbH bought a new stake in shares of Neptune Insurance in the 4th quarter worth about $292,000. Finally, Arizona State Retirement System bought a new stake in shares of Neptune Insurance in the 2nd quarter worth about $329,000.

Analyst Ratings Changes

NP has been the topic of several recent research reports. 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. JPMorgan Chase & Co. raised their target price on shares of Neptune Insurance from $26.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. BMO Capital Markets downgraded shares of Neptune Insurance from an “outperform” rating to a “market perform” rating and set a $32.00 price objective on the stock. in a research report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $33.00 target price on shares of Neptune Insurance in a research report on Wednesday, July 22nd. Finally, Evercore reissued an “outperform” rating and set a $36.00 target price on shares of Neptune Insurance in a research note on Wednesday, July 22nd. Eight research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.82.

Check Out Our Latest Stock Report on Neptune Insurance

About Neptune Insurance

(Get Free Report)

Neptune Insurance, commonly known as Neptune Flood, is a U.S.-focused insurtech company specializing in private flood insurance. Its products are designed to provide alternatives to coverage available through the National Flood Insurance Program and may cover residential properties, personal belongings, additional living expenses and certain commercial properties, subject to policy terms and availability.

The company distributes its insurance through independent agents and uses technology to support quoting, underwriting and policy administration.

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