Slide Insurance (NASDAQ:SLDE) Reaches New 12-Month High – Here’s What Happened

Slide Insurance Holdings, Inc. (NASDAQ:SLDE)’s stock price reached a new 52-week high during mid-day trading on Thursday. The stock traded as high as $27.70 and last traded at $27.6150, with a volume of 504,999 shares traded. The stock had previously closed at $27.11.

Wall Street Analysts Forecast Growth

SLDE has been the topic of several recent research reports. Citigroup reiterated an “outperform” rating on shares of Slide Insurance in a research report on Monday, October 12th. Barclays raised their target price on shares of Slide Insurance from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Zacks Research cut shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 29th. Weiss Ratings raised shares of Slide Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Slide Insurance from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $25.60.

Slide Insurance Trading Up 2.9%

The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.23 and a current ratio of 1.23. The business has a fifty day simple moving average of $24.48 and a 200 day simple moving average of $20.94. The stock has a market cap of $3.33 billion, a price-to-earnings ratio of 6.96 and a beta of 0.13.

Slide Insurance (NASDAQ:SLDE) last released its quarterly earnings results on Tuesday, July 28th. The company reported $1.06 earnings per share for the quarter, topping 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 company had revenue of $386.82 million during the quarter. As a group, equities analysts anticipate that Slide Insurance Holdings, Inc. will post 3.84 EPS for the current year.

Slide Insurance Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.28 annualized dividend and a yield of 1.0%. Slide Insurance’s payout ratio is presently 6.83%.

Insider Buying and Selling at Slide Insurance

In other Slide Insurance news, insider Matthew Larson sold 11,374 shares of the company’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $24.62, for a total value of $280,027.88. Following the transaction, the insider directly owned 11,374 shares in the company, valued at approximately $280,027.88. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen Rohde sold 7,500 shares of the firm’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $26.40, for a total transaction of $198,000.00. Following the sale, the director directly owned 7,500 shares in the company, valued at $198,000. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 258,892 shares of company stock worth $6,228,294. Corporate insiders own 50.80% of the company’s stock.

Institutional Trading of Slide Insurance

A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Slide Insurance in the second quarter valued at $98,538,000. Arrowstreet Capital Limited Partnership lifted its position in Slide Insurance by 298.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,687,802 shares of the company’s stock worth $48,380,000 after buying an additional 2,012,428 shares during the period. Lazard Asset Management LLC lifted its position in Slide Insurance by 27.2% during the first quarter. Lazard Asset Management LLC now owns 849,967 shares of the company’s stock worth $15,299,000 after buying an additional 181,795 shares during the period. Allianz Asset Management GmbH acquired a new stake in Slide Insurance in the 2nd quarter worth about $14,530,000. Finally, Man Group plc acquired a new stake in Slide Insurance in the 2nd quarter worth about $12,229,000.

About Slide Insurance

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.