Robert Gries, Jr. Sells 107,510 Shares of Slide Insurance (NASDAQ:SLDE) Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Robert Gries, Jr. sold 107,510 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $24.44, for a total transaction of $2,627,544.40. Following the sale, the director owned 1,585,211 shares in the company, valued at $38,742,556.84. This represents a 6.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Slide Insurance Stock Up 1.6%

Shares of NASDAQ:SLDE opened at $24.84 on Friday. The firm has a 50 day simple moving average of $21.91 and a 200 day simple moving average of $19.47. Slide Insurance Holdings, Inc. has a 52 week low of $12.53 and a 52 week high of $25.09. 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 company has a market cap of $2.90 billion, a PE ratio of 6.06 and a beta of 0.07.

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 the consensus estimate of $0.88 by $0.18. The company had revenue of $386.82 million for the quarter. Slide Insurance had a net margin of 40.02% and a return on equity of 50.69%. As a group, research analysts expect that Slide Insurance Holdings, Inc. will post 3.79 earnings per share for the current year.

Slide Insurance Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, August 14th. Slide Insurance’s payout ratio is presently 6.83%.

Institutional Investors Weigh In On Slide Insurance

Several institutional investors have recently made changes to their positions in SLDE. BlackRock Inc. acquired a new position in Slide Insurance in the second quarter worth approximately $98,538,000. Arrowstreet Capital Limited Partnership lifted its stake in Slide Insurance by 298.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,687,802 shares of the company’s stock valued at $48,380,000 after acquiring an additional 2,012,428 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Slide Insurance in the second quarter worth approximately $33,063,000. Balyasny Asset Management L.P. grew its position in Slide Insurance by 314.8% in the third quarter. Balyasny Asset Management L.P. now owns 1,378,054 shares of the company’s stock worth $21,753,000 after acquiring an additional 1,045,826 shares in the last quarter. Finally, Allianz Asset Management GmbH acquired a new position in shares of Slide Insurance during the 2nd quarter worth $14,530,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Barclays raised their price objective on Slide Insurance from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Citigroup reaffirmed an “outperform” rating on shares of Slide Insurance in a research report on Thursday, July 30th. Zacks Research upgraded shares of Slide Insurance from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. Weiss Ratings raised shares of Slide Insurance from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 27th. Finally, Morgan Stanley set a $22.00 price target on shares of Slide Insurance in a report on Monday, August 3rd. 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 data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $25.40.

About Slide Insurance

Slide Insurance is a technology-enabled property and casualty insurance company focused on personal residential coverage. Through its insurance operations, the company provides homeowners insurance and related products designed to protect homes and personal property against covered risks, including weather-related events.

Slide uses data-driven underwriting, digital tools and automated claims and policy-management capabilities to support the distribution and servicing of insurance policies.