Charles William Powell Sells 2,080 Shares of Slide Insurance (NASDAQ:SLDE) Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) CRO Charles William Powell sold 2,080 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $25.00, for a total transaction of $52,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Slide Insurance Trading Down 0.9%

NASDAQ SLDE traded down $0.21 on Tuesday, hitting $24.46. 1,180,519 shares of the stock were exchanged, compared to its average volume of 1,438,531. Slide Insurance Holdings, Inc. has a 52-week low of $12.53 and a 52-week high of $25.09. 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 has a market capitalization of $2.86 billion, a price-to-earnings ratio of 5.97 and a beta of 0.07. The company’s 50-day moving average price is $21.58 and its two-hundred day moving average price is $19.27.

Slide Insurance (NASDAQ:SLDE) last released its 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 company 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%. Research analysts predict that Slide Insurance Holdings, Inc. will post 3.79 EPS for the current year.

Slide Insurance Dividend Announcement

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

Hedge Funds Weigh In On Slide Insurance

Several hedge funds have recently bought and sold shares of the business. Allianz Asset Management GmbH bought a new position in Slide Insurance during the second quarter valued at about $14,530,000. Corient Private Wealth LP increased its holdings in shares of Slide Insurance by 12.3% during the 2nd quarter. Corient Private Wealth LP now owns 39,503 shares of the company’s stock valued at $765,000 after acquiring an additional 4,323 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of Slide Insurance by 2,565.5% during the 2nd quarter. California State Teachers Retirement System now owns 674,851 shares of the company’s stock valued at $13,072,000 after acquiring an additional 649,533 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Slide Insurance in the 2nd quarter valued at approximately $836,000. Finally, Two Sigma Securities LLC bought a new position in shares of Slide Insurance in the 2nd quarter valued at approximately $432,000.

Wall Street Analysts Forecast Growth

SLDE has been the topic of several research analyst reports. Citizens Jmp lifted their target price on Slide Insurance from $25.00 to $27.00 and gave the company a “market outperform” rating in a research note on Thursday, July 30th. 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 report on Monday, August 3rd. Zacks Research raised shares of Slide Insurance from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. Morgan Stanley set a $22.00 target price on shares of Slide Insurance in a research report on Monday, August 3rd. Finally, Barclays lifted their price objective on Slide Insurance from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $25.40.

Slide Insurance Company Profile

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.