53,186 Shares in Slide Insurance Holdings, Inc. $SLDE Bought by Capstone Investment Advisors LLC

Capstone Investment Advisors LLC bought a new position in shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 53,186 shares of the company’s stock, valued at approximately $1,030,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Comerica Bank raised its position in Slide Insurance by 3,462.2% during the 4th 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 last quarter. CWM LLC bought a new stake in shares of Slide Insurance in the 4th quarter valued at about $35,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Slide Insurance in the third quarter valued at about $35,000. Global Retirement Partners LLC bought a new position in shares of Slide Insurance during the second quarter worth about $39,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of Slide Insurance in the 2nd quarter worth approximately $40,000.

Insider Buying and Selling

In related news, Director Andrew Pardo Wright sold 15,000 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $19.51, for a total value of $292,650.00. Following the completion of the sale, the director directly owned 18,998 shares of the company’s stock, valued at approximately $370,650.98. This represents a 44.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen L. Rohde sold 5,000 shares of Slide Insurance stock in a transaction on Friday, August 14th. The stock was sold at an average price of $21.89, for a total transaction of $109,450.00. Following the transaction, the director directly owned 5,000 shares in the company, valued at $109,450. 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 494,191 shares of company stock valued at $9,065,901. 50.80% of the stock is owned by corporate insiders.

Slide Insurance Trading Up 0.5%

SLDE opened at $23.46 on Friday. Slide Insurance Holdings, Inc. has a fifty-two week low of $12.53 and a fifty-two week high of $23.75. The firm has a market capitalization of $2.74 billion, a PE ratio of 5.72 and a beta of -0.04. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.23 and a quick ratio of 1.23. The company’s 50-day moving average is $20.74 and its 200 day moving average is $18.93.

Slide Insurance (NASDAQ:SLDE) last released its quarterly earnings results on Tuesday, July 28th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.18. The business had revenue of $386.82 million during the quarter. Slide Insurance had a return on equity of 50.69% and a net margin of 40.02%. As a group, research analysts predict that Slide Insurance Holdings, Inc. will post 3.79 earnings per share for the current fiscal year.

Slide Insurance Announces Dividend

The business also recently declared 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. The ex-dividend date is Friday, August 14th. This represents a $0.28 annualized dividend and a yield of 1.2%. Slide Insurance’s dividend payout ratio is 6.83%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Barclays upped their target price on Slide Insurance from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Wall Street Zen raised Slide Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Keefe, Bruyette & Woods increased their price target on Slide Insurance from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Citigroup reaffirmed an “outperform” rating on shares of Slide Insurance in a research note on Thursday, July 30th. Finally, Citizens Jmp upped their price objective on shares of Slide Insurance from $25.00 to $27.00 and gave the company a “market outperform” rating in a report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target 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.