Slide Insurance (NASDAQ:SLDE) Stock: Insider Matthew Paul Larson Sells 2,600 Shares

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) insider Matthew Larson sold 2,600 shares of the firm’s stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $27.53, for a total value of $71,578.00. Following the sale, the insider owned 2,600 shares of the company’s stock, valued at $71,578. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Thursday, October 22nd, Matthew Larson sold 11,150 shares of Slide Insurance stock. The stock was sold at an average price of $27.55, for a total value of $307,182.50.
• On Monday, September 14th, Matthew Larson sold 11,374 shares of Slide Insurance stock. The shares were sold at an average price of $26.00, for a total value of $295,724.00.
• On Thursday, September 3rd, Matthew Larson sold 11,374 shares of Slide Insurance stock. The shares were sold at an average price of $24.62, for a total transaction of $280,027.88.

Slide Insurance Trading Up 2.9%

NASDAQ SLDE opened at $28.55 on Friday. Slide Insurance Holdings, Inc. has a 12 month low of $15.11 and a 12 month high of $28.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.23 and a quick ratio of 1.23. The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of 6.77 and a beta of 0.13. The company’s fifty day moving average price is $24.48 and its two-hundred day moving average price is $20.94.

Slide Insurance (NASDAQ:SLDE) last released its earnings results on Tuesday, July 28th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.18. The company had revenue of $386.82 million during the quarter. Slide Insurance had a net margin of 40.02% and a return on equity of 50.69%. As a group, research analysts predict that Slide Insurance Holdings, Inc. will post 3.84 earnings per share for the current fiscal year.

Slide Insurance Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, August 14th. Slide Insurance’s payout ratio is currently 6.83%.

Institutional Trading of Slide Insurance

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of Slide Insurance during the 2nd quarter valued at $98,538,000. Hsbc Holdings PLC acquired a new position in shares of Slide Insurance during the 2nd quarter valued at about $1,077,000. Bank of America Corp DE bought a new position in shares of Slide Insurance in the second quarter valued at approximately $10,954,000. Axis Wealth Partners LLC raised its holdings in Slide Insurance by 100.0% in the 1st quarter. Axis Wealth Partners LLC now owns 203,502 shares of the company’s stock worth $3,663,000 after acquiring an additional 101,751 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in Slide Insurance during the 2nd quarter worth $3,450,000.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Morgan Stanley set a $22.00 price target on Slide Insurance in a report on Monday, August 3rd. Keefe, Bruyette & Woods boosted their price objective on Slide Insurance from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Zacks Research cut shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 29th. Citigroup reissued an “outperform” rating on shares of Slide Insurance in a report on Monday, October 12th. Finally, Barclays boosted their target price on Slide Insurance from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $25.60.

About Slide Insurance

Slide Insurance Holdings, Inc is a technology-enabled property and casualty insurance company focused primarily on residential homeowners insurance. Through its digital platform, the company uses data, automation and analytics to support the quoting, underwriting, policy administration and claims processes.

Slide offers homeowners coverage designed to protect residential properties and personal belongings against covered risks, along with related liability protection and optional coverage features.