Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Get Free Report) Director Stephen Rohde sold 5,000 shares of the company's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $21.89, for a total transaction of $109,450.00. Following the completion of the sale, the director owned 5,000 shares in the company, valued at $109,450. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Slide Insurance Price Performance
Shares of NASDAQ SLDE opened at $22.26 on Wednesday. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of 5.43 and a beta of -0.04. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.23 and a current ratio of 1.23. Slide Insurance Holdings, Inc. has a fifty-two week low of $12.53 and a fifty-two week high of $23.00. The firm's 50-day simple moving average is $19.86 and its 200 day simple moving average is $18.63.
Slide Insurance (NASDAQ:SLDE - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.18. The firm 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%. As a group, research analysts anticipate that Slide Insurance Holdings, Inc. will post 3.91 earnings per share for the current fiscal year.
Slide Insurance announced that its Board of Directors has initiated a stock buyback program on Tuesday, April 28th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.
Slide Insurance Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.28 annualized dividend and a dividend yield of 1.3%. Slide Insurance's payout ratio is presently 6.83%.
Hedge Funds Weigh In On Slide Insurance
Several institutional investors have recently added to or reduced their stakes in SLDE. BlackRock Inc. bought a new stake in Slide Insurance in the second quarter worth about $98,538,000. Vanguard Group Inc. grew its position in shares of 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 acquiring an additional 354,321 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Slide Insurance by 298.0% during 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 during the last quarter. Balyasny Asset Management L.P. raised its holdings in shares of 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. bought a new stake in shares of Slide Insurance in the 2nd quarter worth approximately $33,063,000.
Analyst Ratings Changes
Several equities analysts have weighed in on the company. Wall Street Zen upgraded Slide Insurance from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Weiss Ratings reiterated a "hold (c)" rating on shares of Slide Insurance in a research note on Monday, August 3rd. Barclays increased their target price on shares of Slide Insurance from $27.00 to $28.00 and gave the company an "overweight" rating in a report on Wednesday, July 29th. Morgan Stanley set a $22.00 price target on shares of Slide Insurance in a research report on Monday, August 3rd. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Slide Insurance from $24.00 to $26.00 and gave the stock an "outperform" rating in a report on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Slide Insurance has an average rating of "Buy" and a consensus price target of $25.40.
Check Out Our Latest Research Report on SLDE
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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