Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Stock Has Average Price Target of $25.40 According to Analysts

Shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE) have received an average recommendation of “Moderate Buy” from the nine research firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $25.40.

SLDE has been the topic of several research reports. Barclays upped their price target on Slide Insurance from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Morgan Stanley set a $22.00 target price on shares of Slide Insurance in a research note on Monday, August 3rd. Weiss Ratings upgraded shares of Slide Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. Zacks Research cut shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 29th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Slide Insurance from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd.

Insider Buying and Selling at Slide Insurance

In other news, insider Matthew Larson sold 11,374 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $24.62, for a total transaction of $280,027.88. Following the completion of the transaction, the insider directly owned 11,374 shares of the company’s stock, valued at approximately $280,027.88. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Charles Powell sold 2,080 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $25.00, for a total value of $52,000.00. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 245,142 shares of company stock worth $5,849,534. Insiders own 50.80% of the company’s stock.

Institutional Investors Weigh In On Slide Insurance

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in shares of Slide Insurance during the second quarter worth approximately $98,538,000. Arrowstreet Capital Limited Partnership grew its holdings in Slide Insurance by 298.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,687,802 shares of the company’s stock worth $48,380,000 after buying an additional 2,012,428 shares in the last quarter. Allianz Asset Management GmbH acquired a new stake in Slide Insurance in the 2nd quarter valued at approximately $14,530,000. Man Group plc bought a new stake in Slide Insurance during the 2nd quarter valued at $12,229,000. Finally, Bank of America Corp DE bought a new stake in Slide Insurance during the 2nd quarter valued at $10,954,000.

Slide Insurance Trading Down 0.6%

Shares of NASDAQ SLDE opened at $25.14 on Wednesday. The stock’s 50 day moving average price is $23.32 and its two-hundred day moving average price is $20.31. Slide Insurance has a 52-week low of $14.20 and a 52-week high of $26.75. The stock has a market capitalization of $2.94 billion, a P/E ratio of 6.13 and a beta of 0.13. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.02.

Slide Insurance (NASDAQ:SLDE) last released its earnings results on Tuesday, July 28th. The company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter. On average, analysts anticipate that Slide Insurance will post 3.84 earnings per share for the current fiscal year.

Slide Insurance Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were paid a dividend of $0.07 per share. The ex-dividend date was Friday, August 14th. This represents a $0.28 annualized dividend and a yield of 1.1%. Slide Insurance’s dividend payout ratio is 6.83%.

About Slide Insurance

Slide Insurance is a technology-enabled property and casualty insurance company focused primarily on homeowners insurance. The company uses data, analytics and digital tools to provide coverage, manage policies and support claims for residential property owners.

Its products are designed for homeowners and may include coverage for the dwelling, personal property, liability and related risks, subject to the terms of each policy. Slide operates in catastrophe-exposed property insurance markets, where technology and risk-management capabilities are important to underwriting and claims administration.

Slide was founded by Bruce Lucas, an insurance industry executive who previously led Heritage Insurance Holdings.