Slide Insurance Holdings, Inc. (SLDE) – What Are Brokerages Saying About This Stock?

Shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE) have earned a consensus rating of “Moderate Buy” from the nine analysts that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $28.33.

SLDE has been the subject of a number of recent research reports. Wall Street Zen lowered Slide Insurance from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. Morgan Stanley set a $22.00 price objective on Slide Insurance in a research report on Monday, August 3rd. Zacks Research lowered Slide Insurance from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 29th. Barclays raised their price target on shares of Slide Insurance from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, October 28th. Finally, Weiss Ratings upgraded shares of Slide Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th.

Insider Transactions at Slide Insurance

In related news, Director Stephen L. Rohde sold 7,500 shares of Slide Insurance stock in a transaction that occurred on 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. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert Gries, Jr. sold 107,510 shares of the company’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $24.44, for a total value of $2,627,544.40. Following the completion of the sale, the director directly owned 1,585,211 shares in the company, valued at approximately $38,742,556.84. The trade was a 6.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 220,680 shares of company stock worth $5,449,744 over the last quarter. Insiders own 50.80% of the company’s stock.

Institutional Trading of Slide Insurance

Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in Slide Insurance during the second quarter valued at approximately $98,538,000. Arrowstreet Capital Limited Partnership increased its holdings 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 valued at $48,380,000 after buying an additional 2,012,428 shares during the last quarter. Lazard Asset Management LLC raised its position in Slide Insurance by 27.2% in the first quarter. Lazard Asset Management LLC now owns 849,967 shares of the company’s stock worth $15,299,000 after acquiring an additional 181,795 shares during the period. Allianz Asset Management GmbH bought a new position in Slide Insurance in the second quarter worth approximately $14,530,000. Finally, Man Group plc purchased a new position in shares of Slide Insurance during the 2nd quarter worth $12,229,000.

Slide Insurance Trading Down 3.1%

NASDAQ SLDE opened at $26.43 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.27 and a debt-to-equity ratio of 0.02. The business has a 50 day moving average price of $25.33 and a 200-day moving average price of $20.36. Slide Insurance has a 52 week low of $15.11 and a 52 week high of $29.15. The company has a market cap of $3.10 billion, a price-to-earnings ratio of 6.01 and a beta of -0.19.

Slide Insurance (NASDAQ:SLDE) last posted its quarterly earnings data on Tuesday, October 27th. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.44. The business had revenue of $361.05 million for the quarter, compared to analysts’ expectations of $398.08 million. Slide Insurance had a return on equity of 49.36% and a net margin of 39.28%. As a group, equities analysts expect that Slide Insurance will post 3.99 earnings per share for the current fiscal year.

Slide Insurance Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 23rd will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, November 23rd. Slide Insurance’s payout ratio is presently 6.36%.

Slide Insurance Company Profile

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.