Slide Insurance (NASDAQ:SLDE) Director Sells 107,510 Shares

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Robert Gries, Jr. sold 107,510 shares of the business’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $24.44, for a total value of $2,627,544.40. Following the completion of the transaction, the director directly owned 1,585,211 shares of the company’s stock, valued at approximately $38,742,556.84. This trade represents a 6.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Slide Insurance Price Performance

SLDE traded down $0.26 on Thursday, hitting $24.45. 1,087,325 shares of the stock were exchanged, compared to its average volume of 1,436,437. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of 5.96 and a beta of 0.07. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.23 and a quick ratio of 1.23. Slide Insurance Holdings, Inc. has a 12 month low of $12.53 and a 12 month high of $25.09. The business has a 50-day moving average of $21.77 and a two-hundred day moving average of $19.38.

Slide Insurance (NASDAQ:SLDE) last released its earnings results on Tuesday, July 28th. The company reported $1.06 EPS 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 net margin of 40.02% and a return on equity of 50.69%. Sell-side analysts forecast that Slide Insurance Holdings, Inc. will post 3.79 EPS for the current fiscal year.

Slide Insurance Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a dividend of $0.07 per share. 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 dividend payout ratio (DPR) is currently 6.83%.

Wall Street Analyst Weigh In

Several brokerages have commented on SLDE. Zacks Research upgraded shares of Slide Insurance from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. Citizens Jmp raised their target price on Slide Insurance from $25.00 to $27.00 and gave the company a “market outperform” rating in a report on Thursday, July 30th. Wall Street Zen lowered Slide Insurance from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. Citigroup reissued an “outperform” rating on shares of Slide Insurance in a report on Thursday, July 30th. Finally, Keefe, Bruyette & Woods upped their price objective on Slide Insurance from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $25.40.

Hedge Funds Weigh In On Slide Insurance

Several large investors have recently modified their holdings of the business. BlackRock Inc. acquired a new position in shares of Slide Insurance in the second quarter worth approximately $98,538,000. Hsbc Holdings PLC acquired a new stake in Slide Insurance during the 2nd quarter valued at approximately $1,077,000. World Investment Advisors acquired a new stake in Slide Insurance during the 4th quarter valued at approximately $1,964,000. Axis Wealth Partners LLC raised its holdings in Slide Insurance by 100.0% during the 1st quarter. Axis Wealth Partners LLC now owns 203,502 shares of the company’s stock worth $3,663,000 after purchasing an additional 101,751 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust lifted its position in shares of Slide Insurance by 24.9% in the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 459,820 shares of the company’s stock worth $8,277,000 after purchasing an additional 91,610 shares during the period.

About Slide Insurance

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.