Slide Insurance (NASDAQ:SLDE) Stock: Insider Beth Witte Bruce Sells 25,000 Shares

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Beth Bruce sold 25,000 shares of the company’s stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $27.26, for a total transaction of $681,500.00. Following the transaction, the director owned 154,645 shares in the company, valued at approximately $4,215,622.70. This trade represents a 13.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Slide Insurance Stock Up 0.7%

SLDE stock opened at $26.36 on Wednesday. The firm has a 50 day moving average of $25.50 and a 200 day moving average of $20.51. The stock has a market capitalization of $3.09 billion, a PE ratio of 5.95 and a beta of -0.19. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.02. Slide Insurance Holdings, Inc. has a 52 week low of $15.11 and a 52 week high of $29.15.

Slide Insurance (NASDAQ:SLDE) last released its earnings results on Tuesday, October 27th. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.44. Slide Insurance had a net margin of 39.28% and a return on equity of 49.36%. The company had revenue of $361.05 million for the quarter, compared to the consensus estimate of $398.08 million. Sell-side analysts forecast that Slide Insurance Holdings, Inc. will post 3.99 earnings per share for the current year.

Slide Insurance Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Morgan Stanley set a $22.00 target price on Slide Insurance in a research report on Monday, August 3rd. Weiss Ratings raised Slide Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Wall Street Zen cut Slide Insurance from a “buy” rating to a “hold” rating in a research report on Saturday, October 31st. Zacks Research downgraded Slide Insurance from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 29th. Finally, Barclays increased their price objective on Slide Insurance from $28.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $28.33.

Hedge Funds Weigh In On Slide Insurance

A number of institutional investors have recently bought and sold shares of SLDE. Global Retirement Partners LLC acquired a new stake in shares of Slide Insurance in the second quarter worth $39,000. Meeder Asset Management Inc. purchased a new position in Slide Insurance in the second quarter valued at $40,000. State of Wyoming acquired a new position in shares of Slide Insurance in the first quarter worth about $42,000. Public Employees Retirement System of Ohio acquired a new position in Slide Insurance in the 2nd quarter worth about $85,000. Finally, Royal Bank of Canada raised its holdings in Slide Insurance by 221.0% in the 1st 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 during the period.

About Slide Insurance

Slide Insurance is a technology-enabled property and casualty insurance company focused on residential property coverage. Through its insurance operations, the company offers homeowners insurance and related coverage for personal residences. Founded in 2021 by insurance executive Bruce Lucas, Slide built its business in the southeastern United States, including Florida. The company uses technology and data to support policy administration, underwriting and claims services. Bruce Lucas serves as Slide’s chairman and chief executive officer.