Citizens Jmp Issues Positive Forecast for Slide Insurance (NASDAQ:SLDE) Stock Price

Slide Insurance (NASDAQ:SLDE) had its price objective hoisted by Citizens Jmp from $27.00 to $28.00 in a report published on Monday,Benzinga reports. They currently have a market outperform rating on the stock.

A number of other brokerages also recently weighed in on SLDE. Wall Street Zen upgraded Slide Insurance from a “hold” rating to a “buy” rating in a report on Saturday, September 19th. Zacks Research downgraded Slide Insurance from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 29th. Morgan Stanley set a $22.00 price objective on Slide Insurance in a research note on Monday, August 3rd. Keefe, Bruyette & Woods raised their price objective on Slide Insurance from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Finally, Weiss Ratings upgraded Slide Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Slide Insurance has a consensus rating of “Moderate Buy” and a consensus price target of $25.60.

Slide Insurance Trading Up 1.6%

Slide Insurance stock opened at $25.53 on Monday. The company has a 50 day moving average price of $23.42 and a 200 day moving average price of $20.39. Slide Insurance has a 52 week low of $14.20 and a 52 week high of $26.75. 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 firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of 6.23 and a beta of 0.13.

Slide Insurance (NASDAQ:SLDE) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.18. Slide Insurance had a net margin of 40.02% and a return on equity of 50.69%. The firm had revenue of $386.82 million for the quarter. Research analysts forecast that Slide Insurance will post 3.84 EPS for the current year.

Slide Insurance Announces Dividend

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

Insider Buying and Selling at Slide Insurance

In other news, CRO Charles Powell sold 2,080 shares of the stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $25.00, for a total transaction of $52,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Stephen L. Rohde sold 7,500 shares of the firm’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $26.40, for a total transaction of $198,000.00. Following the transaction, the director owned 7,500 shares in the company, valued at $198,000. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 245,142 shares of company stock valued at $5,849,534 over the last three months. 50.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Slide Insurance

A number of large investors have recently bought and sold shares of SLDE. BlackRock Inc. bought a new position in Slide Insurance during the second quarter valued at about $98,538,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Slide Insurance by 298.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,687,802 shares of the company’s stock worth $48,380,000 after buying an additional 2,012,428 shares during the last quarter. Lazard Asset Management LLC lifted its position in shares of 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 buying an additional 181,795 shares during the last quarter. Allianz Asset Management GmbH bought a new stake in shares of Slide Insurance during the 2nd quarter worth about $14,530,000. Finally, Man Group plc bought a new stake in shares of Slide Insurance during the 2nd quarter worth about $12,229,000.

About Slide Insurance

Slide Insurance is a technology-enabled property and casualty insurance company focused primarily on homeowners insurance. The company uses data, analytics and digital tools to provide coverage, manage policies and support claims for residential property owners.

Its products are designed for homeowners and may include coverage for the dwelling, personal property, liability and related risks, subject to the terms of each policy. Slide operates in catastrophe-exposed property insurance markets, where technology and risk-management capabilities are important to underwriting and claims administration.

Slide was founded by Bruce Lucas, an insurance industry executive who previously led Heritage Insurance Holdings.