36,415 Shares in Slide Insurance Holdings, Inc. $SLDE Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company purchased a new position in Slide Insurance Holdings, Inc. (NASDAQ:SLDE) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 36,415 shares of the company’s stock, valued at approximately $655,000.

Other large investors also recently made changes to their positions in the company. Comerica Bank boosted its position in shares of Slide Insurance by 3,462.2% during the 4th quarter. Comerica Bank now owns 1,318 shares of the company’s stock valued at $26,000 after purchasing an additional 1,281 shares in the last quarter. CWM LLC bought a new stake in shares of Slide Insurance in the 4th quarter worth approximately $35,000. Ameritas Investment Partners Inc. acquired a new stake in Slide Insurance during the third quarter valued at approximately $35,000. State of Wyoming bought a new stake in Slide Insurance during the first quarter worth approximately $42,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in Slide Insurance during the fourth quarter worth approximately $47,000.

Slide Insurance Stock Performance

Shares of SLDE opened at $21.93 on Friday. The company has a 50-day moving average of $19.65 and a two-hundred day moving average of $18.53. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of 5.35 and a beta of -0.04. 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 one year low of $12.53 and a one year high of $23.00.

Slide Insurance (NASDAQ:SLDE) last released 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 business had revenue of $386.82 million for the quarter. Slide Insurance had a net margin of 40.02% and a return on equity of 50.69%. On average, equities research analysts expect that Slide Insurance Holdings, Inc. will post 3.91 earnings per share for the current year.

Slide Insurance declared that its board has authorized a stock buyback plan on Tuesday, April 28th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 4.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Slide Insurance Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, August 14th.

Insider Activity at Slide Insurance

In other Slide Insurance news, COO Shannon Lucas sold 4,659 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $17.12, for a total transaction of $79,762.08. Following the sale, the chief operating officer directly owned 1,118,756 shares of the company’s stock, valued at $19,153,102.72. The trade was a 0.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrew Pardo Wright sold 15,000 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $19.51, for a total value of $292,650.00. Following the completion of the sale, the director owned 18,998 shares of the company’s stock, valued at $370,650.98. The trade was a 44.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 1,827,408 shares of company stock worth $34,334,764. Insiders own 50.80% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Keefe, Bruyette & Woods upped their price target on Slide Insurance from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Morgan Stanley set a $22.00 price objective on Slide Insurance in a research note on Monday, August 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Slide Insurance in a report on Monday, August 3rd. Citigroup reaffirmed an “outperform” rating on shares of Slide Insurance in a research report on Thursday, July 30th. Finally, Citizens Jmp upped their target price on Slide Insurance from $25.00 to $27.00 and gave the company a “market outperform” rating in a report on Thursday, July 30th. 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 company presently has a consensus rating of “Buy” and a consensus price target of $25.40.

About Slide Insurance

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.