Slide Insurance (NASDAQ:SLDE) Director Sells $681,500.00 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Beth Bruce sold 25,000 shares of the business’s stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $27.26, for a total transaction of $681,500.00. Following the completion of the transaction, the director directly owned 154,645 shares in the company, valued at $4,215,622.70. This trade represents a 13.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Slide Insurance Stock Performance

SLDE traded up $0.24 during trading on Monday, hitting $26.18. 1,232,965 shares of the company traded hands, compared to its average volume of 1,427,675. Slide Insurance Holdings, Inc. has a one year low of $15.11 and a one year high of $29.15. The stock’s fifty day moving average is $25.38 and its 200 day moving average is $20.41. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.02. The firm has a market cap of $3.07 billion, a P/E ratio of 5.95 and a beta of -0.19.

Slide Insurance (NASDAQ:SLDE) last announced its quarterly earnings data on Tuesday, October 27th. The company reported $1.09 EPS for the quarter, topping the consensus estimate of $0.65 by $0.44. The business had revenue of $361.05 million for the quarter, compared to analyst estimates of $398.08 million. Slide Insurance had a net margin of 39.28% and a return on equity of 49.36%. As a group, equities analysts predict that Slide Insurance Holdings, Inc. will post 3.99 EPS for the current fiscal year.

Slide Insurance Dividend Announcement

The business also recently declared 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 dividend payout ratio (DPR) is presently 6.36%.

Institutional Investors Weigh In On Slide Insurance

Institutional investors and hedge funds have recently modified their holdings of the company. Global Retirement Partners LLC purchased a new position in Slide Insurance during the second quarter valued at approximately $39,000. Meeder Asset Management Inc. purchased a new stake in Slide Insurance in the 2nd quarter worth approximately $40,000. State of Wyoming purchased a new stake in Slide Insurance in the 1st quarter worth approximately $42,000. Public Employees Retirement System of Ohio purchased a new stake in Slide Insurance in the 2nd quarter worth approximately $85,000. Finally, Royal Bank of Canada boosted 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 valued at $109,000 after purchasing an additional 4,126 shares during the period.

Analysts Set New Price Targets

Several brokerages have issued reports on SLDE. Wall Street Zen lowered Slide Insurance from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. Raymond James Financial set a $35.00 target price on shares of Slide Insurance in a research note on Wednesday, October 28th. Morgan Stanley set a $22.00 price target on shares of Slide Insurance in a research report on Monday, August 3rd. Citizens Jmp upped their price target on shares of Slide Insurance from $28.00 to $33.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 28th. Finally, Weiss Ratings raised shares of Slide Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. 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 company. Based on data from MarketBeat.com, Slide Insurance presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.33.

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.