Slide Insurance (NASDAQ:SLDE) Director Sells $1,499,581.36 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Robert Gries, Jr. sold 61,762 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $24.28, for a total transaction of $1,499,581.36. Following the completion of the sale, the director owned 1,523,449 shares in the company, valued at $36,989,341.72. This represents a 3.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Slide Insurance Stock Up 1.6%

Shares of SLDE opened at $24.84 on Friday. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of 6.06 and a beta of 0.07. The stock has a fifty day moving average of $21.91 and a 200-day moving average of $19.47. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.23 and a current ratio of 1.23. Slide Insurance Holdings, Inc. has a 52 week low of $12.53 and a 52 week high of $25.09.

Slide Insurance (NASDAQ:SLDE) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.18. Slide Insurance had a return on equity of 50.69% and a net margin of 40.02%.The business had revenue of $386.82 million during the quarter. As a group, sell-side analysts anticipate that Slide Insurance Holdings, Inc. will post 3.79 earnings per share for the current fiscal year.

Slide Insurance Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a $0.07 dividend. The ex-dividend date was Friday, August 14th. This represents a $0.28 annualized dividend and a dividend yield of 1.1%. Slide Insurance’s payout ratio is currently 6.83%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SLDE shares. Citizens Jmp upped their price objective on shares of Slide Insurance from $25.00 to $27.00 and gave the company a “market outperform” rating in a report on Thursday, July 30th. Weiss Ratings raised Slide Insurance from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 27th. Citigroup reaffirmed an “outperform” rating on shares of Slide Insurance in a research note on Thursday, July 30th. Zacks Research raised Slide Insurance from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. Finally, Barclays boosted their price objective on Slide Insurance from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $25.40.

Hedge Funds Weigh In On Slide Insurance

Large investors have recently added to or reduced their stakes in the business. WINTON GROUP Ltd increased its holdings in Slide Insurance by 153.5% during the 2nd quarter. WINTON GROUP Ltd now owns 28,500 shares of the company’s stock worth $552,000 after purchasing an additional 17,256 shares in the last quarter. Engineers Gate Manager LP bought a new position in shares of Slide Insurance in the second quarter valued at approximately $688,000. Allianz Asset Management GmbH purchased a new position in shares of Slide Insurance during the second quarter valued at approximately $14,530,000. Corient Private Wealth LP boosted its position in shares of Slide Insurance by 12.3% during the second quarter. Corient Private Wealth LP now owns 39,503 shares of the company’s stock valued at $765,000 after buying an additional 4,323 shares during the last quarter. Finally, California State Teachers Retirement System grew its holdings in Slide Insurance by 2,565.5% during the second quarter. California State Teachers Retirement System now owns 674,851 shares of the company’s stock worth $13,072,000 after buying an additional 649,533 shares in the last quarter.

Slide Insurance Company Profile

Slide Insurance is a technology-enabled property and casualty insurance company focused on personal residential coverage. Through its insurance operations, the company provides homeowners insurance and related products designed to protect homes and personal property against covered risks, including weather-related events.

Slide uses data-driven underwriting, digital tools and automated claims and policy-management capabilities to support the distribution and servicing of insurance policies.