Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Given Consensus Recommendation of “Buy” by Analysts

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) has been assigned an average recommendation of “Buy” from the nine brokerages that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $25.40.

A number of brokerages recently commented on SLDE. Weiss Ratings raised Slide Insurance from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 27th. Zacks Research raised Slide Insurance from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Wall Street Zen cut Slide Insurance from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. Keefe, Bruyette & Woods raised their price objective on Slide Insurance from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note 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.

Slide Insurance Stock Performance

Shares of NASDAQ SLDE opened at $24.84 on Friday. Slide Insurance has a 12-month low of $12.53 and a 12-month high of $25.09. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 6.06 and a beta of 0.07. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.02. The firm has a 50 day moving average of $21.91 and a 200 day moving average of $19.47.

Slide Insurance (NASDAQ:SLDE) last released its quarterly earnings results on Tuesday, July 28th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.18. The business had revenue of $386.82 million for the quarter. Slide Insurance had a net margin of 40.02% and a return on equity of 50.69%. On average, research analysts anticipate that Slide Insurance will post 3.79 earnings per share for the current year.

Slide Insurance Dividend Announcement

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

Insider Activity

In other news, Director Robert Gries, Jr. sold 107,510 shares of the stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $24.44, for a total value of $2,627,544.40. Following the completion of the sale, the director directly owned 1,585,211 shares of the company’s stock, valued at $38,742,556.84. This represents a 6.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Matthew Larson sold 11,374 shares of the firm’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $24.62, for a total transaction of $280,027.88. Following the sale, the insider owned 11,374 shares in the company, valued at $280,027.88. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 399,788 shares of company stock valued at $8,798,676. Company insiders own 50.80% of the company’s stock.

Hedge Funds Weigh In On Slide Insurance

Several large investors have recently made changes to their positions in SLDE. BlackRock Inc. bought a new position in shares of Slide Insurance in the second quarter worth about $98,538,000. Vanguard Group Inc. lifted its holdings in Slide Insurance by 14.7% in the 4th quarter. Vanguard Group Inc. now owns 2,761,819 shares of the company’s stock worth $53,800,000 after purchasing an additional 354,321 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted 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 purchasing an additional 2,012,428 shares in the last quarter. Balyasny Asset Management L.P. boosted its stake in Slide Insurance by 27.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,758,215 shares of the company’s stock worth $34,250,000 after purchasing an additional 380,161 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Slide Insurance during the 2nd quarter valued at approximately $33,063,000.

Slide Insurance Company Profile

Slide Insurance is a technology-enabled property and casualty insurance company focused on personal residential coverage. Through its insurance operations, the company provides homeowners insurance and related products designed to protect homes and personal property against covered risks, including weather-related events.

Slide uses data-driven underwriting, digital tools and automated claims and policy-management capabilities to support the distribution and servicing of insurance policies.