Stephen Rohde Sells 5,000 Shares of Slide Insurance (NASDAQ:SLDE) Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Stephen Rohde sold 5,000 shares of Slide Insurance stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $21.89, for a total transaction of $109,450.00. Following the completion of the transaction, the director owned 5,000 shares of the company’s stock, valued at $109,450. The trade was a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Slide Insurance Stock Performance

SLDE traded up $0.66 on Tuesday, hitting $22.26. The company’s stock had a trading volume of 613,305 shares, compared to its average volume of 975,370. The company’s 50 day simple moving average is $19.86 and its 200-day simple moving average is $18.63. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.02. Slide Insurance Holdings, Inc. has a 12 month low of $12.53 and a 12 month high of $23.00. The firm has a market cap of $2.60 billion, a P/E ratio of 5.35 and a beta of -0.04.

Slide Insurance (NASDAQ:SLDE) last released its quarterly earnings data on Tuesday, July 28th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.18. The company had revenue of $386.82 million for the quarter. Slide Insurance had a return on equity of 50.69% and a net margin of 40.02%. Analysts forecast that Slide Insurance Holdings, Inc. will post 3.91 EPS for the current year.

Slide Insurance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, August 14th. Slide Insurance’s dividend payout ratio is currently 6.83%.

Slide Insurance announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, April 28th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to repurchase up to 4.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Slide Insurance

Several institutional investors and hedge funds have recently bought and sold shares of the business. Comerica Bank raised its holdings in Slide Insurance by 3,462.2% in the 4th quarter. Comerica Bank now owns 1,318 shares of the company’s stock worth $26,000 after purchasing an additional 1,281 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of Slide Insurance by 8.4% in the 1st quarter. Hsbc Holdings PLC now owns 21,251 shares of the company’s stock worth $384,000 after acquiring an additional 1,641 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Slide Insurance by 11.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,019 shares of the company’s stock valued at $313,000 after purchasing an additional 1,704 shares in the last quarter. CWM LLC bought a new position in Slide Insurance in the fourth quarter worth $35,000. Finally, Global Retirement Partners LLC purchased a new position in Slide Insurance during the second quarter valued at $39,000.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Barclays increased their target price on Slide Insurance from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Citigroup reiterated an “outperform” rating on shares of Slide Insurance in a research report on Thursday, July 30th. Citizens Jmp boosted their target price on Slide Insurance from $25.00 to $27.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 30th. Wall Street Zen raised shares of Slide Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Morgan Stanley set a $22.00 target price on shares of Slide Insurance in a report on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $25.40.

Slide Insurance Company Profile

Launched in 2021, we are a technology enabled, fast-growing, coastal specialty insurer. We focus on profitable underwriting of single family and condominium policies in the property and casualty (“P&C”) industry in coastal states along the Atlantic seaboard through our insurance subsidiary, Slide Insurance Company (“SIC”). We utilize our differentiated technology and data-driven approach to focus on market opportunities that are underserved by other insurance companies. We acquire policies both from inorganic block acquisitions and subsequent renewals, as well as new business sales through a combination of independent agents and our direct-to-consumer(“DTC”) channel, through which we sell our insurance products directly to end consumers, without the use of retailers, brokers, agents or other intermediaries.