Insider Selling: Slide Insurance (NASDAQ:SLDE) Director Sells $2,627,544.40 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Robert Gries, Jr. sold 107,510 shares of Slide Insurance stock in a transaction on Tuesday, September 8th. The stock was 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 approximately $38,742,556.84. The trade was a 6.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Slide Insurance Stock Performance

NASDAQ:SLDE opened at $24.84 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.23 and a current ratio of 1.23. The stock has a 50-day simple moving average of $21.91 and a two-hundred day simple moving average of $19.47. The firm has a market capitalization of $2.90 billion, a PE ratio of 6.06 and a beta of 0.07. Slide Insurance Holdings, Inc. has a 52-week low of $12.53 and a 52-week high of $25.09.

Slide Insurance (NASDAQ:SLDE) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.88 by $0.18. Slide Insurance had a return on equity of 50.69% and a net margin of 40.02%.The firm had revenue of $386.82 million for the quarter. Analysts forecast that Slide Insurance Holdings, Inc. will post 3.79 EPS for the current year.

Slide Insurance Dividend Announcement

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

Institutional Trading of Slide Insurance

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in shares of Slide Insurance in the second quarter worth about $98,538,000. Vanguard Group Inc. grew its holdings in Slide Insurance by 14.7% during the 4th quarter. Vanguard Group Inc. now owns 2,761,819 shares of the company’s stock valued at $53,800,000 after buying an additional 354,321 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake 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 acquiring an additional 2,012,428 shares during the last quarter. Balyasny Asset Management L.P. raised its holdings in shares of Slide Insurance by 27.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,758,215 shares of the company’s stock worth $34,250,000 after acquiring an additional 380,161 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Slide Insurance in the second quarter valued at $33,063,000.

Wall Street Analysts Forecast Growth

SLDE has been the subject of a number of recent analyst reports. Wall Street Zen lowered shares of Slide Insurance from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. Barclays lifted their target price on shares of Slide Insurance from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Citigroup reaffirmed an “outperform” rating on shares of Slide Insurance in a report on Thursday, July 30th. Keefe, Bruyette & Woods raised their price target on Slide Insurance from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Finally, Zacks Research upgraded Slide Insurance from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $25.40.

About Slide Insurance

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.