Key Points
- Director Beth Witte Bruce sold 21,063 Slide Insurance shares on May 26 at an average price of $18.70, totaling about $393,878. After the sale, she still owned 203,145 shares valued at roughly $3.8 million.
- Slide Insurance recently posted stronger-than-expected earnings, reporting $1.02 EPS versus the $0.82 consensus estimate on quarterly revenue of $389.28 million. The company also showed strong profitability, with a net margin of 38.86% and return on equity of 48.38%.
- The company approved a $100 million share buyback program, allowing repurchases of up to 4.3% of outstanding shares. Analysts remain generally positive, with an average rating of “Moderate Buy” and a target price of $24.80.
Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Get Free Report) Director Beth Witte Bruce sold 2,437 shares of the company's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $18.70, for a total transaction of $45,571.90. Following the sale, the director directly owned 224,208 shares of the company's stock, valued at $4,192,689.60. The trade was a 1.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Beth Witte Bruce also recently made the following trade(s):
- On Wednesday, May 27th, Beth Witte Bruce sold 23,500 shares of Slide Insurance stock. The stock was sold at an average price of $19.01, for a total transaction of $446,735.00.
- On Tuesday, May 26th, Beth Witte Bruce sold 21,063 shares of Slide Insurance stock. The stock was sold at an average price of $18.70, for a total transaction of $393,878.10.
- On Friday, February 27th, Beth Witte Bruce sold 25,000 shares of Slide Insurance stock. The stock was sold at an average price of $18.94, for a total transaction of $473,500.00.
Slide Insurance Price Performance
Slide Insurance stock opened at $18.69 on Thursday. Slide Insurance Holdings, Inc. has a 52-week low of $12.53 and a 52-week high of $25.90. The firm has a market capitalization of $2.14 billion and a price-to-earnings ratio of 5.19. The company has a fifty day simple moving average of $18.31 and a 200-day simple moving average of $17.78. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.03.
Slide Insurance (NASDAQ:SLDE - Get Free Report) last released its earnings results on Tuesday, April 28th. The company reported $1.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.20. Slide Insurance had a net margin of 38.86% and a return on equity of 48.38%. The business had revenue of $389.28 million during the quarter. On average, equities analysts anticipate that Slide Insurance Holdings, Inc. will post 3.51 EPS for the current fiscal year.
Slide Insurance announced that its board has initiated a share buyback program on Tuesday, April 28th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of SLDE. Geode Capital Management LLC acquired a new position in Slide Insurance in the second quarter valued at about $2,245,000. Legal & General Group Plc acquired a new position in Slide Insurance in the second quarter valued at about $216,000. Norges Bank acquired a new position in Slide Insurance in the second quarter valued at about $866,000. Marshall Wace LLP acquired a new position in Slide Insurance in the second quarter valued at about $1,056,000. Finally, Qube Research & Technologies Ltd acquired a new position in Slide Insurance in the second quarter valued at about $834,000.
Analysts Set New Price Targets
Several brokerages have recently weighed in on SLDE. Weiss Ratings reissued a "hold (c)" rating on shares of Slide Insurance in a research report on Wednesday, May 6th. Keefe, Bruyette & Woods boosted their price target on shares of Slide Insurance from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Monday, March 9th. Texas Capital raised shares of Slide Insurance to a "strong-buy" rating in a research report on Wednesday, March 18th. Barclays boosted their price target on shares of Slide Insurance from $29.00 to $31.00 and gave the company an "overweight" rating in a research report on Wednesday, April 29th. Finally, Zacks Research cut shares of Slide Insurance from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, Slide Insurance has an average rating of "Moderate Buy" and an average target price of $24.80.
Get Our Latest Analysis on Slide Insurance
Slide Insurance Company Profile
(
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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.
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