Insider Selling: Slide Insurance (NASDAQ:SLDE) Director Sells $109,450.00 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Stephen Rohde sold 5,000 shares of the business’s stock in a transaction that occurred on 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 trade represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Slide Insurance Trading Up 0.2%

Shares of NASDAQ:SLDE opened at $22.52 on Friday. Slide Insurance Holdings, Inc. has a 12-month low of $12.53 and a 12-month high of $23.00. The business’s fifty day simple moving average is $20.08 and its 200-day simple moving average is $18.71. The company has a market capitalization of $2.63 billion, a PE ratio of 5.49 and a beta of -0.04. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.02.

Slide Insurance (NASDAQ:SLDE) last released its quarterly earnings results on Tuesday, July 28th. The company reported $1.06 EPS for the quarter, topping the consensus estimate 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%. As a group, equities research analysts predict that Slide Insurance Holdings, Inc. will post 3.91 earnings per share for the current fiscal year.

Slide Insurance Announces Dividend

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

Slide Insurance declared that its Board of Directors has approved a share buyback program on Tuesday, April 28th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to purchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on SLDE shares. Citigroup reaffirmed an “outperform” rating on shares of Slide Insurance in a research report on Thursday, July 30th. Wall Street Zen raised shares of Slide Insurance from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Citizens Jmp raised their target price on shares of Slide Insurance from $25.00 to $27.00 and gave the company a “market outperform” rating in a research note on Thursday, July 30th. Barclays upped their price target on Slide Insurance from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Finally, Zacks Research upgraded Slide Insurance from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Two research 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. Based on data from MarketBeat, Slide Insurance presently has a consensus rating of “Buy” and a consensus target price of $25.40.

Institutional Investors Weigh In On Slide Insurance

A number of large investors have recently modified their holdings of the business. Comerica Bank raised its position in shares of Slide Insurance by 3,462.2% in 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 during the last quarter. CWM LLC purchased a new stake in Slide Insurance during the 4th quarter worth approximately $35,000. Global Retirement Partners LLC purchased a new stake in Slide Insurance during the 2nd quarter worth approximately $39,000. Meeder Asset Management Inc. acquired a new position in Slide Insurance during the 2nd quarter valued at approximately $40,000. Finally, Ameritas Investment Partners Inc. purchased a new position in shares of Slide Insurance in the third quarter worth $35,000.

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.