Slide Insurance (NASDAQ:SLDE) Director Stephen Rohde Sells 5,000 Shares

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Stephen Rohde sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $20.00, for a total transaction of $100,000.00. Following the transaction, the director directly owned 2,500 shares of the company’s stock, valued at $50,000. This represents a 66.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Slide Insurance Stock Performance

Slide Insurance stock opened at $20.65 on Wednesday. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of 5.04 and a beta of -0.04. 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 business’s fifty day simple moving average is $19.06 and its two-hundred day simple moving average is $18.27.

Slide Insurance (NASDAQ:SLDE) last posted 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. Slide Insurance had a net margin of 40.02% and a return on equity of 50.69%. The firm had revenue of $386.82 million for the quarter. As a group, equities analysts predict that Slide Insurance Holdings, Inc. will post 3.91 earnings per share for the current fiscal year.

Slide Insurance Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, August 14th.

Slide Insurance announced that its board has approved a share repurchase plan on Tuesday, April 28th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to reacquire up to 4.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SLDE. Janus Henderson Group PLC raised its position in Slide Insurance by 1,151.3% in the first quarter. Janus Henderson Group PLC now owns 172,683 shares of the company’s stock valued at $3,108,000 after purchasing an additional 158,883 shares during the period. California State Teachers Retirement System lifted its position in shares of Slide Insurance by 9.5% during the 1st quarter. California State Teachers Retirement System now owns 25,318 shares of the company’s stock worth $456,000 after buying an additional 2,189 shares during the last quarter. Royal Bank of Canada increased its position in shares of Slide Insurance by 221.0% during the first quarter. Royal Bank of Canada now owns 5,993 shares of the company’s stock worth $109,000 after purchasing an additional 4,126 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of Slide Insurance in the 1st quarter valued at $655,000. Finally, Quantinno Capital Management LP purchased a new position in shares of Slide Insurance during the first quarter worth about $953,000.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SLDE shares. Wall Street Zen raised shares of Slide Insurance from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Citigroup reaffirmed an “outperform” rating on shares of Slide Insurance in a research report on Thursday, July 30th. Keefe, Bruyette & Woods boosted their price objective on shares of Slide Insurance from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Monday. Citizens Jmp upped their price target on Slide Insurance from $25.00 to $27.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 30th. Finally, Morgan Stanley set a $22.00 target price on shares of Slide Insurance in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Slide Insurance currently has a consensus rating of “Moderate Buy” and an average target price of $25.40.

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.