The Manufacturers Life Insurance Company Purchases Shares of 30,126 Slide Insurance Holdings, Inc. $SLDE

The Manufacturers Life Insurance Company acquired a new position in Slide Insurance Holdings, Inc. (NASDAQ:SLDE) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 30,126 shares of the company’s stock, valued at approximately $584,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in SLDE. Comerica Bank lifted its stake in Slide Insurance by 3,462.2% during the fourth quarter. Comerica Bank now owns 1,318 shares of the company’s stock valued at $26,000 after purchasing an additional 1,281 shares during the last quarter. Hsbc Holdings PLC grew its position in Slide Insurance by 8.4% in the first quarter. Hsbc Holdings PLC now owns 21,251 shares of the company’s stock worth $384,000 after buying an additional 1,641 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Slide Insurance by 11.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,019 shares of the company’s stock worth $313,000 after buying an additional 1,704 shares during the last quarter. CWM LLC bought a new position in shares of Slide Insurance in the fourth quarter valued at $35,000. Finally, Global Retirement Partners LLC bought a new position in shares of Slide Insurance in the second quarter valued at $39,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SLDE shares. Morgan Stanley set a $22.00 price objective on Slide Insurance in a research note on Monday, August 3rd. Keefe, Bruyette & Woods boosted their target price on Slide Insurance from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Citigroup reaffirmed an “outperform” rating on shares of Slide Insurance in a report on Thursday, July 30th. Wall Street Zen lowered Slide Insurance from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. Finally, Zacks Research raised Slide Insurance from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $25.40.

Insiders Place Their Bets

In other Slide Insurance news, Director Andrew Wright sold 15,000 shares of Slide Insurance stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $19.51, for a total transaction of $292,650.00. Following the transaction, the director owned 18,998 shares of the company’s stock, valued at $370,650.98. The trade was a 44.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert Gries, Jr. sold 28,212 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $20.33, for a total value of $573,549.96. Following the completion of the transaction, the director owned 1,720,933 shares in the company, valued at $34,986,567.89. This represents a 1.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 491,691 shares of company stock valued at $9,021,426 in the last 90 days. Insiders own 50.80% of the company’s stock.

Slide Insurance Stock Performance

NASDAQ SLDE opened at $24.67 on Monday. Slide Insurance Holdings, Inc. has a twelve month low of $12.53 and a twelve month high of $25.09. 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 market cap of $2.88 billion, a price-to-earnings ratio of 6.02 and a beta of 0.07. The firm’s 50 day moving average price is $21.48 and its two-hundred day moving average price is $19.22.

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%. Equities analysts anticipate 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%.

Slide Insurance 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.