Beth Witte Bruce Sells 2,437 Shares of Slide Insurance (NASDAQ:SLDE) Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Beth Witte Bruce sold 2,437 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $18.70, for a total transaction of $45,571.90. Following the transaction, the director owned 224,208 shares in the company, valued at approximately $4,192,689.60. This trade represents a 1.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Beth Witte Bruce also recently made the following trade(s):

• On Wednesday, May 27th, Beth Witte Bruce sold 23,500 shares of Slide Insurance stock. The shares were sold at an average price of $19.01, for a total transaction of $446,735.00.
• On Tuesday, May 26th, Beth Witte Bruce sold 21,063 shares of Slide Insurance stock. The shares were sold at an average price of $18.70, for a total transaction of $393,878.10.
• On Friday, February 27th, Beth Witte Bruce sold 25,000 shares of Slide Insurance stock. The shares were sold at an average price of $18.94, for a total transaction of $473,500.00.

Slide Insurance Stock Performance

SLDE opened at $18.28 on Friday. Slide Insurance Holdings, Inc. has a 52-week low of $12.53 and a 52-week high of $25.90. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.09 billion and a P/E ratio of 5.08. The firm’s 50-day moving average price is $18.31 and its 200-day moving average price is $17.79.

Slide Insurance (NASDAQ:SLDE) last released its earnings results on Tuesday, April 28th. The company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.20. Slide Insurance had a return on equity of 48.38% and a net margin of 38.86%.The firm had revenue of $389.28 million for the quarter. As a group, equities analysts anticipate that Slide Insurance Holdings, Inc. will post 3.51 EPS for the current fiscal year.

Slide Insurance declared that its board has initiated a stock repurchase plan on Tuesday, April 28th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SLDE. Piper Sandler increased their price target on shares of Slide Insurance from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Keefe, Bruyette & Woods increased their price target on shares of Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, March 9th. Barclays increased their price target on shares of Slide Insurance from $29.00 to $31.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Texas Capital upgraded shares of Slide Insurance to a “strong-buy” rating in a report on Wednesday, March 18th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Slide Insurance in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.80.

Institutional Investors Weigh In On Slide Insurance

A number of institutional investors have recently modified their holdings of the business. Comerica Bank grew its stake in Slide Insurance by 3,462.2% in the 4th quarter. Comerica Bank now owns 1,318 shares of the company’s stock valued at $26,000 after acquiring an additional 1,281 shares during the period. Hsbc Holdings PLC lifted its holdings in Slide Insurance by 8.4% during the first quarter. Hsbc Holdings PLC now owns 21,251 shares of the company’s stock valued at $384,000 after purchasing an additional 1,641 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in 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 purchased a new position in Slide Insurance during the fourth quarter valued at $35,000. Finally, California State Teachers Retirement System lifted its holdings in Slide Insurance by 9.5% during the first quarter. California State Teachers Retirement System now owns 25,318 shares of the company’s stock valued at $456,000 after purchasing an additional 2,189 shares in the last quarter.

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.