Key Points
- Insider sale: Matthew Paul Larson sold 2,600 Slide Insurance shares at an average price of $27.53, totaling $71,578, cutting his ownership by 50% to 2,600 shares. He had also sold 11,374 shares in both September transactions.
- Stock performance and outlook: SLDE opened at $27.75, near its 12-month high of $27.97, with a $3.24 billion market capitalization. Analysts maintain a “Moderate Buy” consensus, though the average price target of $25.60 is below the current share price.
- Financial results: Slide Insurance reported quarterly EPS of $1.06, beating estimates of $0.88, on $386.82 million in revenue. The company also pays a quarterly dividend of $0.07, equivalent to a 1.0% annual yield.
Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Get Free Report) insider Matthew Larson sold 2,600 shares of the stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $27.53, for a total transaction of $71,578.00. Following the completion of the transaction, the insider owned 2,600 shares of the company's stock, valued at $71,578. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Matthew Paul Larson also recently made the following trade(s):
- On Monday, September 14th, Matthew Larson sold 11,374 shares of Slide Insurance stock. The shares were sold at an average price of $26.00, for a total transaction of $295,724.00.
- On Thursday, September 3rd, Matthew Larson sold 11,374 shares of Slide Insurance stock. The stock was sold at an average price of $24.62, for a total value of $280,027.88.
Slide Insurance Price Performance
Shares of NASDAQ:SLDE opened at $27.75 on Friday. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of 6.61 and a beta of 0.13. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.23 and a quick ratio of 1.23. Slide Insurance Holdings, Inc. has a 12 month low of $14.56 and a 12 month high of $27.97. The stock's 50 day moving average price is $24.35 and its 200 day moving average price is $20.89.
Slide Insurance (NASDAQ:SLDE - Get Free Report) last issued its quarterly 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 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%. Equities research analysts anticipate that Slide Insurance Holdings, Inc. will post 3.84 earnings per share for the current fiscal year.
Slide Insurance Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, August 14th. Slide Insurance's payout ratio is currently 6.83%.
Analysts Set New Price Targets
Several brokerages recently weighed in on SLDE. Zacks Research cut Slide Insurance from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 29th. Citizens Jmp boosted their price target on shares of Slide Insurance from $27.00 to $28.00 and gave the stock a "market outperform" rating in a research report on Monday, October 12th. 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 research report on Monday, August 3rd. Wall Street Zen raised shares of Slide Insurance from a "hold" rating to a "buy" rating in a report on Saturday, September 19th. Finally, Barclays raised their price objective on shares of Slide Insurance from $27.00 to $28.00 and gave the company an "overweight" rating in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $25.60.
Read Our Latest Analysis on Slide Insurance
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in SLDE. Hsbc Holdings PLC increased its holdings in shares of Slide Insurance by 8.4% in the first quarter. Hsbc Holdings PLC now owns 21,251 shares of the company's stock valued at $384,000 after buying an additional 1,641 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in shares of Slide Insurance during the 2nd quarter valued at $39,000. Meeder Asset Management Inc. acquired a new stake in shares of Slide Insurance during the 2nd quarter valued at $40,000. California State Teachers Retirement System boosted its stake in shares of Slide Insurance by 9.5% during the 1st quarter. California State Teachers Retirement System now owns 25,318 shares of the company's stock worth $456,000 after acquiring an additional 2,189 shares in the last quarter. Finally, State of Wyoming bought a new stake in shares of Slide Insurance during the 1st quarter worth $42,000.
Slide Insurance Company Profile
(
Get Free Report)
Slide Insurance Holdings, Inc is a technology-enabled property and casualty insurance company focused primarily on residential homeowners insurance. Through its digital platform, the company uses data, automation and analytics to support the quoting, underwriting, policy administration and claims processes.
Slide offers homeowners coverage designed to protect residential properties and personal belongings against covered risks, along with related liability protection and optional coverage features.
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