Key Points
- Insider sale: Matthew Paul Larson sold 11,374 Slide Insurance shares at an average price of $26, generating $295,724 and reducing his ownership by 50%. He had also sold 11,374 shares earlier in September at $24.62 each.
- Company performance: Slide Insurance reported quarterly EPS of $1.06, exceeding the $0.88 consensus estimate, on revenue of $386.82 million. Analysts expect full-year EPS of $3.79, while the company maintains a 40.02% net margin and 50.69% return on equity.
- Market outlook: SLDE recently traded near $25.67, with analysts assigning an average “Buy” rating and a $25.40 price target. The company also pays a quarterly dividend of $0.07 per share, equivalent to a 1.1% yield.
Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Get Free Report) Director Stephen Rohde sold 7,500 shares of the firm's stock in a transaction on Monday, September 14th. The shares were sold at an average price of $26.40, for a total value of $198,000.00. Following the completion of the sale, the director directly owned 7,500 shares in the company, valued at approximately $198,000. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Slide Insurance Price Performance
Slide Insurance stock opened at $25.67 on Thursday. 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 52 week low of $12.53 and a 52 week high of $26.75. The stock has a market capitalization of $3.00 billion, a P/E ratio of 6.26 and a beta of 0.07. The stock has a fifty day moving average of $22.23 and a 200-day moving average of $19.64.
Slide Insurance (NASDAQ:SLDE - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate 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 for the quarter. On average, sell-side analysts expect that Slide Insurance Holdings, Inc. will post 3.79 earnings per share for the current fiscal year.
Slide Insurance Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were issued a $0.07 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.1%. Slide Insurance's dividend payout ratio is 6.83%.
Institutional Investors Weigh In On Slide Insurance
A number of hedge funds have recently modified their holdings of the stock. WINTON GROUP Ltd increased its position in Slide Insurance by 153.5% in the second quarter. WINTON GROUP Ltd now owns 28,500 shares of the company's stock worth $552,000 after buying an additional 17,256 shares during the last quarter. Engineers Gate Manager LP bought a new stake in shares of Slide Insurance in the second quarter valued at $688,000. Allianz Asset Management GmbH purchased a new position in shares of Slide Insurance during the 2nd quarter valued at $14,530,000. Corient Private Wealth LP increased its holdings in Slide Insurance by 12.3% in the 2nd quarter. Corient Private Wealth LP now owns 39,503 shares of the company's stock worth $765,000 after acquiring an additional 4,323 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Slide Insurance during the second quarter valued at about $836,000.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on the stock. Weiss Ratings raised shares of Slide Insurance from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, August 27th. Citigroup reaffirmed an "outperform" rating on shares of Slide Insurance in a report on Thursday, July 30th. Keefe, Bruyette & Woods raised their price target on shares of Slide Insurance from $24.00 to $26.00 and gave the company an "outperform" rating in a research report on Monday, August 3rd. Wall Street Zen downgraded shares of Slide Insurance from a "buy" rating to a "hold" rating in a research report on Saturday, August 29th. Finally, Zacks Research upgraded shares of 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 assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $25.40.
View Our Latest Analysis on SLDE
About Slide Insurance
(
Get Free Report)
Slide Insurance is a technology-enabled property and casualty insurance company focused on personal residential coverage. Through its insurance operations, the company provides homeowners insurance and related products designed to protect homes and personal property against covered risks, including weather-related events.
Slide uses data-driven underwriting, digital tools and automated claims and policy-management capabilities to support the distribution and servicing of insurance policies.
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