Key Points
- Director Robert Gries Jr. sold 61,762 Slide Insurance shares for approximately $1.50 million at an average price of $24.28, reducing his stake by 3.9% while retaining 1.52 million shares.
- Slide Insurance reported quarterly earnings of $1.06 per share, exceeding estimates of $0.88, on $386.82 million in revenue; analysts expect $3.79 in full-year EPS.
- The stock traded near its 52-week high at $24.45, while analysts maintained a broadly positive outlook with a consensus “Buy” rating and an average price target of $25.40. The company also pays a $0.07 quarterly dividend.
Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Get Free Report) Director Robert Gries, Jr. sold 61,762 shares of the business's stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $24.28, for a total value of $1,499,581.36. Following the completion of the sale, the director owned 1,523,449 shares of the company's stock, valued at $36,989,341.72. The trade was a 3.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.
Slide Insurance Stock Down 1.1%
Shares of NASDAQ:SLDE opened at $24.45 on Friday. The business's 50 day moving average is $21.84 and its 200 day moving average is $19.43. The stock has a market cap of $2.86 billion, a P/E ratio of 5.96 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. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.02.
Slide Insurance (NASDAQ:SLDE - Get Free Report) last issued its earnings results on Tuesday, July 28th. The company reported $1.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.88 by $0.18. Slide Insurance had a return on equity of 50.69% and a net margin of 40.02%.The business had revenue of $386.82 million during the quarter. Sell-side analysts predict that Slide Insurance Holdings, Inc. will post 3.79 EPS for the current year.
Slide Insurance Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders 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 annualized dividend and a dividend yield of 1.1%. Slide Insurance's dividend payout ratio (DPR) is currently 6.83%.
Institutional Investors Weigh In On Slide Insurance
A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in Slide Insurance in the second quarter valued at about $98,538,000. Hsbc Holdings PLC purchased a new stake in shares of Slide Insurance during the second quarter valued at about $1,077,000. World Investment Advisors purchased a new stake in shares of Slide Insurance during the fourth quarter valued at about $1,964,000. Axis Wealth Partners LLC boosted its holdings in shares of Slide Insurance by 100.0% in the 1st quarter. Axis Wealth Partners LLC now owns 203,502 shares of the company's stock valued at $3,663,000 after buying an additional 101,751 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust boosted its holdings in shares of Slide Insurance by 24.9% in the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 459,820 shares of the company's stock valued at $8,277,000 after buying an additional 91,610 shares in the last quarter.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on SLDE. Barclays upped their price objective on shares of Slide Insurance from $27.00 to $28.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 29th. Weiss Ratings upgraded shares of Slide Insurance from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, August 27th. Citizens Jmp upped their price target on shares of Slide Insurance from $25.00 to $27.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 30th. Citigroup reiterated an "outperform" rating on shares of Slide Insurance in a research note on Thursday, July 30th. Finally, Morgan Stanley set a $22.00 price objective on shares of Slide Insurance in a 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $25.40.
View Our Latest Stock Analysis on SLDE
Slide Insurance Company Profile
(
Get Free Report)
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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