Hsbc Holdings PLC Makes New $1.08 Million Investment in Slide Insurance Holdings, Inc. $SLDE

Hsbc Holdings PLC bought a new position in shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 54,464 shares of the company’s stock, valued at approximately $1,077,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Canada Pension Plan Investment Board acquired a new stake in shares of Slide Insurance in the 2nd quarter valued at approximately $583,000. Legal & General Group Plc acquired a new position in Slide Insurance during the second quarter valued at approximately $780,000. The Manufacturers Life Insurance Company acquired a new position in Slide Insurance during the second quarter valued at approximately $584,000. Algert Global LLC bought a new stake in Slide Insurance in the second quarter valued at approximately $1,828,000. Finally, Globeflex Capital L P bought a new stake in Slide Insurance in the second quarter valued at approximately $763,000.

Insider Transactions at Slide Insurance

In other news, Director Stephen L. 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 transaction, the director directly owned 5,000 shares of the company’s stock, valued at $109,450. This 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 available at this hyperlink. Also, Director Andrew Pardo Wright sold 15,000 shares of the stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $19.51, for a total value of $292,650.00. Following the transaction, the director owned 18,998 shares of the company’s stock, valued at approximately $370,650.98. The trade was a 44.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 491,691 shares of company stock worth $9,021,426. Company insiders own 50.80% of the company’s stock.

Slide Insurance Stock Down 1.0%

Slide Insurance stock opened at $23.25 on Tuesday. The company has a 50 day moving average of $21.00 and a 200-day moving average of $19.01. 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 Holdings, Inc. has a twelve month low of $12.53 and a twelve month high of $23.75. The stock has a market capitalization of $2.72 billion, a PE ratio of 5.67 and a beta of -0.04.

Slide Insurance (NASDAQ:SLDE) 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 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 anticipate that Slide Insurance Holdings, Inc. will post 3.79 EPS for the current fiscal year.

Slide Insurance Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, August 14th. Slide Insurance’s dividend payout ratio is 6.83%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SLDE shares. Zacks Research upgraded shares of Slide Insurance from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Morgan Stanley set a $22.00 price objective on shares of Slide Insurance in a research report on Monday, August 3rd. Weiss Ratings raised Slide Insurance from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday. Citigroup reiterated an “outperform” rating on shares of Slide Insurance in a report on Thursday, July 30th. Finally, Keefe, Bruyette & Woods boosted their target price on Slide Insurance from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Slide Insurance presently has a consensus rating of “Buy” and an average target price 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.