Janus Henderson Group PLC Buys 158,883 Shares of Slide Insurance Holdings, Inc. $SLDE

Janus Henderson Group PLC grew its stake in shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE) by 1,151.3% in the first quarter, HoldingsChannel.com reports. The firm owned 172,683 shares of the company’s stock after buying an additional 158,883 shares during the quarter. Janus Henderson Group PLC’s holdings in Slide Insurance were worth $3,108,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Comerica Bank grew its position in shares of 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 buying an additional 1,281 shares during the last quarter. CWM LLC bought a new position in shares of Slide Insurance in the 4th quarter worth about $35,000. Ameritas Investment Partners Inc. bought a new position in shares of Slide Insurance during the third quarter valued at approximately $35,000. State of Wyoming purchased a new position in shares of Slide Insurance in the 1st quarter worth about $42,000. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Slide Insurance in the fourth quarter worth approximately $47,000.

Slide Insurance Trading Down 0.9%

NASDAQ:SLDE opened at $21.13 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.33 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 company has a market cap of $2.47 billion, a PE ratio of 5.15 and a beta of -0.04. The company has a 50 day simple moving average of $19.22 and a two-hundred day simple moving average of $18.36.

Slide Insurance (NASDAQ:SLDE) last released its quarterly earnings results on Tuesday, July 28th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.18. The firm 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%. Research analysts forecast that Slide Insurance Holdings, Inc. will post 3.91 earnings per share for the current year.

Slide Insurance declared that its board has authorized a stock buyback program on Tuesday, April 28th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Slide Insurance Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.28 dividend on an annualized basis and a yield of 1.3%.

Insider Buying and Selling at Slide Insurance

In other Slide Insurance news, CEO Bruce Lucas sold 455,000 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $19.06, for a total value of $8,672,300.00. Following the transaction, the chief executive officer directly owned 35,429,165 shares of the company’s stock, valued at approximately $675,279,884.90. This trade represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Shannon Lucas sold 45,000 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $19.06, for a total value of $857,700.00. Following the sale, the chief operating officer owned 1,210,300 shares of the company’s stock, valued at approximately $23,068,318. This represents a 3.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 2,245,231 shares of company stock valued at $42,185,736. 50.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SLDE has been the topic of several analyst reports. Wall Street Zen raised Slide Insurance from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Slide Insurance in a report on Monday. Zacks Research raised Slide Insurance from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. Citigroup reiterated an “outperform” rating on shares of Slide Insurance in a report on Thursday, July 30th. Finally, Morgan Stanley set a $22.00 target price on Slide Insurance in a research report on Monday. Two research 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $25.40.

Slide Insurance 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.