Slide Insurance Holdings, Inc. $SLDE Position Cut by Brighton Jones LLC

Brighton Jones LLC lessened its position in Slide Insurance Holdings, Inc. (NASDAQ:SLDE) by 28.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 50,999 shares of the company’s stock after selling 19,844 shares during the period. Brighton Jones LLC’s holdings in Slide Insurance were worth $1,138,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of SLDE. BlackRock Inc. acquired a new stake in Slide Insurance during the 2nd quarter worth approximately $98,538,000. Hsbc Holdings PLC acquired a new position in shares of Slide Insurance in the second quarter valued at approximately $1,077,000. Bank of America Corp DE bought a new stake in shares of Slide Insurance during the second quarter worth $10,954,000. Bank of New York Mellon Corp bought a new stake in shares of Slide Insurance during the second quarter worth $3,450,000. Finally, Allianz Asset Management GmbH acquired a new stake in shares of Slide Insurance during the second quarter worth $14,530,000.

Slide Insurance Stock Down 1.2%

NASDAQ:SLDE opened at $26.04 on Thursday. Slide Insurance Holdings, Inc. has a twelve month low of $15.11 and a twelve month high of $29.15. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of 5.92 and a beta of -0.19. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.02. The stock’s 50 day moving average price is $25.55 and its two-hundred day moving average price is $20.56.

Slide Insurance (NASDAQ:SLDE) last released its quarterly earnings data on Tuesday, October 27th. The company reported $1.09 EPS for the quarter, beating the consensus estimate of $0.65 by $0.44. Slide Insurance had a return on equity of 49.36% and a net margin of 39.28%. The company had revenue of $361.05 million during the quarter, compared to the consensus estimate of $398.08 million. Equities research analysts expect that Slide Insurance Holdings, Inc. will post 3.99 earnings per share for the current fiscal year.

Slide Insurance Dividend Announcement

The company also recently declared a special dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 23rd will be paid a $1.50 dividend. The ex-dividend date is Monday, November 23rd. Slide Insurance’s dividend payout ratio (DPR) is currently 6.36%.

Insider Transactions at Slide Insurance

In other news, insider Matthew Larson sold 11,150 shares of Slide Insurance stock in a transaction dated Thursday, October 22nd. The shares were sold at an average price of $27.55, for a total value of $307,182.50. Following the completion of the transaction, the insider owned 11,150 shares of the company’s stock, valued at $307,182.50. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Charles Powell sold 2,080 shares of Slide Insurance stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $25.00, for a total transaction of $52,000.00. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 245,680 shares of company stock valued at $6,131,244. 50.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SLDE shares. Wall Street Zen cut shares of Slide Insurance from a “buy” rating to a “hold” rating in a research report on Saturday, October 31st. Raymond James Financial set a $35.00 price target on Slide Insurance in a research note on Wednesday, October 28th. Citizens Jmp increased their target price on shares of Slide Insurance from $28.00 to $33.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 28th. Zacks Research lowered shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 29th. Finally, Weiss Ratings raised shares of Slide Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. One equities 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $28.33.

Slide Insurance Profile

Slide Insurance is a technology-enabled property and casualty insurance company focused on residential property coverage. Through its insurance operations, the company offers homeowners insurance and related coverage for personal residences. Founded in 2021 by insurance executive Bruce Lucas, Slide built its business in the southeastern United States, including Florida. The company uses technology and data to support policy administration, underwriting and claims services. Bruce Lucas serves as Slide’s chairman and chief executive officer.