Slide Insurance (NASDAQ:SLDE) CRO Sells $52,000.00 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) CRO Charles William Powell sold 2,080 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $25.00, for a total value of $52,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Slide Insurance Stock Down 1.1%

Slide Insurance stock opened at $24.45 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.23 and a quick ratio of 1.23. The stock has a market capitalization of $2.86 billion, a PE ratio of 5.96 and a beta of 0.07. The business has a 50 day simple moving average of $21.84 and a 200-day simple moving average of $19.43. Slide Insurance Holdings, Inc. has a 12 month low of $12.53 and a 12 month high of $25.09.

Slide Insurance (NASDAQ:SLDE) last announced its earnings results on Tuesday, July 28th. The company reported $1.06 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $386.82 million for the quarter. On average, analysts anticipate that Slide Insurance Holdings, Inc. will post 3.79 EPS for the current fiscal year.

Slide Insurance Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a $0.07 dividend. The ex-dividend date was Friday, August 14th. This represents a $0.28 annualized dividend and a dividend yield of 1.1%. Slide Insurance’s dividend payout ratio (DPR) is 6.83%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SLDE. Comerica Bank grew its position in shares of Slide Insurance by 3,462.2% in the fourth quarter. Comerica Bank now owns 1,318 shares of the company’s stock valued at $26,000 after purchasing an additional 1,281 shares in the last quarter. CWM LLC purchased a new position in Slide Insurance during the fourth quarter worth approximately $35,000. Ameritas Investment Partners Inc. acquired a new position in Slide Insurance during the third quarter worth $35,000. Global Retirement Partners LLC acquired a new position in Slide Insurance during the second quarter worth $39,000. Finally, Meeder Asset Management Inc. purchased a new stake in Slide Insurance in the 2nd quarter valued at $40,000.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Zacks Research upgraded Slide Insurance from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Morgan Stanley set a $22.00 target price on Slide Insurance in a research report on Monday, August 3rd. Citigroup reaffirmed an “outperform” rating on shares of Slide Insurance in a research note on Thursday, July 30th. Keefe, Bruyette & Woods increased their price objective on Slide Insurance from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Finally, Barclays raised their price objective on Slide Insurance from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target 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.