HB Wealth Management LLC Has $17.39 Million Position in Slide Insurance Holdings, Inc. $SLDE

HB Wealth Management LLC raised its stake in shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE) by 1,375.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 892,586 shares of the company’s stock after buying an additional 832,102 shares during the quarter. HB Wealth Management LLC’s holdings in Slide Insurance were worth $17,388,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Geode Capital Management LLC acquired a new stake in Slide Insurance in the second quarter worth $2,245,000. Legal & General Group Plc acquired a new stake in Slide Insurance in the second quarter worth $216,000. Norges Bank acquired a new stake in Slide Insurance in the second quarter worth $866,000. Marshall Wace LLP acquired a new stake in Slide Insurance in the second quarter worth $1,056,000. Finally, Qube Research & Technologies Ltd acquired a new stake in Slide Insurance in the second quarter worth $834,000.

Insider Activity at Slide Insurance

In related news, insider Matthew Paul Larson sold 11,250 shares of Slide Insurance stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $19.39, for a total value of $218,137.50. Following the sale, the insider owned 8,750 shares of the company’s stock, valued at approximately $169,662.50. This trade represents a 56.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Bruce Lucas sold 118,055 shares of Slide Insurance stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $19.55, for a total value of $2,307,975.25. Following the completion of the sale, the chief executive officer directly owned 37,052,987 shares in the company, valued at approximately $724,385,895.85. This represents a 0.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 3,059,578 shares of company stock valued at $56,002,750.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Slide Insurance in a report on Friday, December 26th. Piper Sandler boosted their target price on Slide Insurance from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Wall Street Zen cut Slide Insurance from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Texas Capital raised Slide Insurance to a “strong-buy” rating in a research note on Wednesday, March 18th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, March 9th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Slide Insurance currently has a consensus rating of “Buy” and a consensus target price of $24.40.

Slide Insurance Price Performance

Shares of NASDAQ SLDE opened at $18.81 on Thursday. The firm has a market cap of $2.34 billion and a PE ratio of 7.29. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.03. Slide Insurance Holdings, Inc. has a 1-year low of $12.53 and a 1-year high of $25.90. The company has a fifty day moving average price of $17.99 and a 200 day moving average price of $17.29.

Slide Insurance (NASDAQ:SLDE) last announced its earnings results on Tuesday, February 24th. The company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.36. The company had revenue of $347.01 million during the quarter. Research analysts predict that Slide Insurance Holdings, Inc. will post 3.26 earnings per share for the current fiscal year.

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.