Federated Hermes Inc. Invests $9.47 Million in Slide Insurance Holdings, Inc. $SLDE

Federated Hermes Inc. purchased a new position in Slide Insurance Holdings, Inc. (NASDAQ:SLDE) in the third quarter, Holdings Channel reports. The fund purchased 600,000 shares of the company’s stock, valued at approximately $9,471,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FNY Investment Advisers LLC bought a new position in Slide Insurance during the 2nd quarter worth approximately $26,000. Strs Ohio acquired a new stake in shares of Slide Insurance during the 3rd quarter valued at approximately $77,000. Man Group plc bought a new position in Slide Insurance during the second quarter worth $210,000. Legal & General Group Plc acquired a new position in Slide Insurance in the second quarter worth $216,000. Finally, Levin Capital Strategies L.P. acquired a new position in Slide Insurance in the second quarter worth $217,000.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Piper Sandler raised their price target on shares of Slide Insurance from $18.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Keefe, Bruyette & Woods increased their price objective on shares of Slide Insurance from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Weiss Ratings restated a “hold (c-)” rating on shares of Slide Insurance in a research note on Friday, December 26th. Zacks Research upgraded Slide Insurance from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 8th. Finally, Morgan Stanley raised their price target on Slide Insurance from $18.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Slide Insurance presently has an average rating of “Buy” and an average price target of $23.17.

Slide Insurance Trading Up 2.8%

Slide Insurance stock opened at $17.23 on Monday. Slide Insurance Holdings, Inc. has a 52-week low of $12.53 and a 52-week high of $25.90. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.14 billion and a price-to-earnings ratio of 12.76. The firm has a 50-day moving average price of $17.59 and a two-hundred day moving average price of $16.40.

Slide Insurance (NASDAQ:SLDE) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.49 by $0.30. The firm had revenue of $265.69 million during the quarter, compared to analyst estimates of $279.36 million.

Slide Insurance 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.