Slide Insurance (NASDAQ:SLDE) Cut to Hold at Wall Street Zen

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

Several other research analysts also recently weighed in on the stock. Citizens Jmp upped their price objective on shares of Slide Insurance from $28.00 to $33.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 28th. Morgan Stanley set a $22.00 price objective 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 “buy (b-)” rating in a research report on Thursday, October 8th. Raymond James Financial set a $35.00 target price on shares of Slide Insurance in a research report on Wednesday, October 28th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Slide Insurance from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.33.

Slide Insurance Trading Down 0.7%

NASDAQ SLDE opened at $27.53 on Friday. 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 has a 52 week low of $15.11 and a 52 week high of $29.15. The business has a 50 day moving average price of $25.11 and a 200-day moving average price of $20.20. The company has a market cap of $3.22 billion, a price-to-earnings ratio of 6.26 and a beta of 0.13.

Slide Insurance (NASDAQ:SLDE) last issued its earnings results on Tuesday, October 27th. The company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.44. Slide Insurance had a return on equity of 51.12% and a net margin of 39.28%. The company had revenue of $361.05 million for the quarter, compared to analysts’ expectations of $398.08 million. As a group, equities analysts expect that Slide Insurance will post 3.84 earnings per share for the current fiscal year.

Slide Insurance Announces Dividend

The business also recently declared a special dividend, which will be paid on Monday, November 30th. Investors of record on Monday, November 23rd will be issued a dividend of $1.50 per share. The ex-dividend date is Monday, November 23rd. Slide Insurance’s dividend payout ratio is 6.36%.

Insider Buying and Selling

In other Slide Insurance news, Director Robert Gries, Jr. sold 61,762 shares of the firm’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $24.28, for a total transaction of $1,499,581.36. Following the transaction, the director directly owned 1,523,449 shares in the company, valued at approximately $36,989,341.72. This trade represents a 3.90% 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, insider Matthew Larson sold 11,150 shares of Slide Insurance stock in a transaction on Thursday, October 22nd. The stock was sold at an average price of $27.55, for a total transaction of $307,182.50. Following the transaction, the insider directly owned 11,150 shares in the company, valued at $307,182.50. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 225,680 shares of company stock valued at $5,554,744. 50.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Slide Insurance during the second quarter worth $98,538,000. Hsbc Holdings PLC purchased a new position in Slide Insurance in the second quarter worth $1,077,000. Bank of America Corp DE purchased a new position in Slide Insurance in the second quarter worth $10,954,000. Bank of New York Mellon Corp purchased a new position in Slide Insurance in the second quarter worth $3,450,000. Finally, Emerald Mutual Fund Advisers Trust grew its stake in Slide Insurance by 24.9% in the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 459,820 shares of the company’s stock valued at $8,277,000 after purchasing an additional 91,610 shares during the period.

Slide Insurance Company Profile

Slide Insurance Holdings, Inc is a technology-enabled property and casualty insurance company focused primarily on residential homeowners insurance. Through its digital platform, the company uses data, automation and analytics to support the quoting, underwriting, policy administration and claims processes.

Slide offers homeowners coverage designed to protect residential properties and personal belongings against covered risks, along with related liability protection and optional coverage features.