Slide Insurance (NASDAQ:SLDE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Slide Insurance (NASDAQ:SLDE) from a hold rating to a buy rating in a report released on Saturday morning,Wall Street Zen reports.

A number of other equities analysts have also recently commented on the company. Citigroup reiterated an “outperform” rating on shares of Slide Insurance in a report on Thursday, July 30th. Morgan Stanley set a $22.00 price target on Slide Insurance in a report on Monday, August 3rd. Weiss Ratings upgraded Slide Insurance from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 27th. Citizens Jmp lifted their price objective on shares of Slide Insurance from $25.00 to $27.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 30th. Finally, Barclays boosted their price objective on shares of Slide Insurance from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Two investment 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. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $25.40.

Slide Insurance Stock Performance

Slide Insurance stock opened at $24.22 on Friday. The company’s 50-day moving average price is $22.45 and its 200-day moving average price is $19.76. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.02. The company has a market cap of $2.83 billion, a PE ratio of 5.91 and a beta of 0.07. Slide Insurance has a twelve month low of $13.26 and a twelve month high of $26.75.

Slide Insurance (NASDAQ:SLDE) last released its quarterly earnings results on Tuesday, July 28th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.88 by $0.18. Slide Insurance had a return on equity of 50.69% and a net margin of 40.02%.The company had revenue of $386.82 million during the quarter. On average, equities research analysts forecast that Slide Insurance will post 3.79 EPS for the current fiscal year.

Slide Insurance Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.2%. Slide Insurance’s dividend payout ratio is currently 6.83%.

Insiders Place Their Bets

In related news, insider Matthew Larson sold 11,374 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $26.00, for a total transaction of $295,724.00. Following the completion of the sale, the insider directly owned 11,374 shares of the company’s stock, valued at approximately $295,724. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Gries, Jr. sold 61,762 shares of the business’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $24.28, for a total value of $1,499,581.36. Following the transaction, the director owned 1,523,449 shares of the company’s stock, valued at approximately $36,989,341.72. The trade was a 3.90% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 418,992 shares of company stock valued at $9,301,056. Corporate insiders own 50.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Slide Insurance in the 2nd quarter worth about $98,538,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Slide Insurance by 298.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,687,802 shares of the company’s stock valued at $48,380,000 after acquiring an additional 2,012,428 shares in the last quarter. Allianz Asset Management GmbH purchased a new stake in shares of Slide Insurance in the second quarter valued at approximately $14,530,000. Man Group plc purchased a new stake in shares of Slide Insurance in the second quarter valued at approximately $12,229,000. Finally, Bank of America Corp DE purchased a new position in Slide Insurance during the 2nd quarter worth $10,954,000.

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.