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

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Stephen Rohde sold 5,000 shares of Slide Insurance stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $21.89, for a total value of $109,450.00. Following the transaction, the director directly owned 5,000 shares in the company, valued at approximately $109,450. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Slide Insurance Price Performance

Shares of NASDAQ SLDE opened at $22.48 on Thursday. Slide Insurance Holdings, Inc. has a twelve month low of $12.53 and a twelve month high of $23.00. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of 5.48 and a beta of -0.04. The firm has a 50-day moving average of $19.97 and a two-hundred day moving average of $18.67.

Slide Insurance (NASDAQ:SLDE) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.18. The company 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%. As a group, analysts expect that Slide Insurance Holdings, Inc. will post 3.91 earnings per share for the current fiscal year.

Slide Insurance Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, August 14th. Slide Insurance’s dividend payout ratio (DPR) is presently 6.83%.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SLDE. Citizens Jmp increased their price objective on Slide Insurance from $25.00 to $27.00 and gave the company a “market outperform” rating in a research report on Thursday, July 30th. Barclays lifted their target price on Slide Insurance from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Slide Insurance in a research report on Monday, August 3rd. Citigroup reaffirmed an “outperform” rating on shares of Slide Insurance in a report on Thursday, July 30th. Finally, Wall Street Zen upgraded Slide Insurance from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Two investment 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 stock. According to MarketBeat.com, Slide Insurance presently has an average rating of “Buy” and an average target price of $25.40.

Institutional Trading of Slide Insurance

A number of hedge funds have recently made changes to their positions in the stock. Comerica Bank boosted its holdings in shares of Slide Insurance by 3,462.2% during the fourth quarter. Comerica Bank now owns 1,318 shares of the company’s stock worth $26,000 after purchasing an additional 1,281 shares during the period. Hsbc Holdings PLC increased its stake in Slide Insurance by 8.4% in the 1st quarter. Hsbc Holdings PLC now owns 21,251 shares of the company’s stock valued at $384,000 after buying an additional 1,641 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Slide Insurance by 11.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,019 shares of the company’s stock valued at $313,000 after buying an additional 1,704 shares during the period. CWM LLC purchased a new stake in Slide Insurance in the 4th quarter worth approximately $35,000. Finally, Global Retirement Partners LLC purchased a new stake in Slide Insurance in the 2nd quarter worth approximately $39,000.

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.