Slide Insurance (NASDAQ:SLDE) Sets New 52-Week High – What’s Next?

Slide Insurance Holdings, Inc. (NASDAQ:SLDE)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $25.09 and last traded at $25.6360, with a volume of 736 shares changing hands. The stock had previously closed at $24.84.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Wall Street Zen cut Slide Insurance from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. Morgan Stanley set a $22.00 target price on shares of Slide Insurance in a report on Monday, August 3rd. Weiss Ratings raised shares of Slide Insurance from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 27th. Zacks Research upgraded shares of Slide Insurance from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Finally, Citigroup reaffirmed an “outperform” rating on shares of Slide Insurance in a research report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $25.40.

Slide Insurance Trading Up 3.3%

The company has a 50 day moving average of $21.91 and a two-hundred day moving average of $19.49. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.23 and a current ratio of 1.23. The stock has a market capitalization of $3.00 billion, a PE ratio of 6.23 and a beta of 0.07.

Slide Insurance (NASDAQ:SLDE) last released its quarterly earnings results on Tuesday, July 28th. The company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.18. The company had revenue of $386.82 million during the quarter. Slide Insurance had a return on equity of 50.69% and a net margin of 40.02%. Sell-side analysts predict that Slide Insurance Holdings, Inc. will post 3.79 EPS for the current year.

Slide Insurance Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were issued 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 is 6.83%.

Insider Activity at Slide Insurance

In other Slide Insurance news, Director Stephen L. Rohde sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $21.89, for a total transaction of $109,450.00. Following the transaction, the director owned 5,000 shares in the company, valued at approximately $109,450. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Andrew Wright sold 31,002 shares of Slide Insurance stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $18.01, for a total transaction of $558,346.02. Following the sale, the director owned 48,998 shares of the company’s stock, valued at $882,453.98. The trade was a 38.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 399,788 shares of company stock valued at $8,798,676. Company insiders own 50.80% of the company’s stock.

Hedge Funds Weigh In On Slide Insurance

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Comerica Bank increased its holdings in shares of Slide Insurance by 3,462.2% in the fourth quarter. Comerica Bank now owns 1,318 shares of the company’s stock valued at $26,000 after purchasing an additional 1,281 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in shares of Slide Insurance in the 3rd quarter valued at $35,000. Global Retirement Partners LLC purchased a new stake in shares of Slide Insurance in the 2nd quarter valued at $39,000. Meeder Asset Management Inc. purchased a new stake in Slide Insurance in the second quarter valued at $40,000. Finally, State of Wyoming acquired a new stake in Slide Insurance during the 1st quarter worth about $42,000.

Slide Insurance Company Profile

Slide Insurance is a technology-enabled property and casualty insurance company focused on personal residential coverage. Through its insurance operations, the company provides homeowners insurance and related products designed to protect homes and personal property against covered risks, including weather-related events.

Slide uses data-driven underwriting, digital tools and automated claims and policy-management capabilities to support the distribution and servicing of insurance policies.