Slide Insurance Holdings, Inc. $SLDE Shares Sold by UBS Group AG

UBS Group AG decreased its holdings in shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE) by 25.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 108,948 shares of the company’s stock after selling 37,809 shares during the period. UBS Group AG owned approximately 0.09% of Slide Insurance worth $2,122,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SLDE. Geode Capital Management LLC purchased a new stake in shares of Slide Insurance during the 2nd quarter worth approximately $2,245,000. Legal & General Group Plc purchased a new stake in shares of Slide Insurance during the 2nd quarter worth approximately $216,000. Norges Bank purchased a new stake in shares of Slide Insurance during the 2nd quarter worth approximately $866,000. Marshall Wace LLP purchased a new stake in shares of Slide Insurance during the 2nd quarter worth approximately $1,056,000. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of Slide Insurance during the 2nd quarter worth approximately $834,000.

Slide Insurance Price Performance

SLDE stock opened at $18.69 on Thursday. Slide Insurance Holdings, Inc. has a 1 year low of $12.53 and a 1 year high of $25.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.33 and a current ratio of 1.33. The stock’s 50 day moving average price is $18.31 and its 200 day moving average price is $17.78. The firm has a market cap of $2.14 billion and a P/E ratio of 5.19.

Slide Insurance (NASDAQ:SLDE) last posted its earnings results on Tuesday, April 28th. The company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.20. Slide Insurance had a return on equity of 48.38% and a net margin of 38.86%.The firm had revenue of $389.28 million for the quarter. On average, sell-side analysts expect that Slide Insurance Holdings, Inc. will post 3.51 earnings per share for the current fiscal year.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SLDE. Zacks Research lowered Slide Insurance from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Keefe, Bruyette & Woods boosted their price target on Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, March 9th. Piper Sandler boosted their price target on Slide Insurance from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. Texas Capital raised Slide Insurance to a “strong-buy” rating in a research note on Wednesday, March 18th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Slide Insurance in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.80.

Insider Transactions at Slide Insurance

In other Slide Insurance news, insider Matthew Paul Larson sold 11,250 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $18.56, for a total value of $208,800.00. Following the completion of the transaction, the insider directly owned 11,250 shares in the company, valued at approximately $208,800. The trade was a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Beth Witte Bruce sold 23,500 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $19.01, for a total value of $446,735.00. Following the completion of the transaction, the director owned 179,645 shares of the company’s stock, valued at $3,415,051.45. This trade represents a 11.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 5,591,183 shares of company stock worth $103,967,650 in the last quarter. Insiders own 50.80% of the company’s stock.

Slide Insurance Company Profile

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.