Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Given Average Recommendation of “Buy” by Brokerages

Shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE) have been given a consensus recommendation of “Buy” by the nine analysts that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $25.40.

SLDE has been the subject of a number of research reports. Wall Street Zen lowered Slide Insurance from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. Keefe, Bruyette & Woods lifted their price objective on Slide Insurance from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Morgan Stanley set a $22.00 price objective on Slide Insurance in a report on Monday, August 3rd. Barclays increased their target price on Slide Insurance from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Finally, Citigroup reissued an “outperform” rating on shares of Slide Insurance in a report on Thursday, July 30th.

Insider Buying and Selling at Slide Insurance

In other news, CRO Charles Powell sold 2,080 shares of the business’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $25.00, for a total value of $52,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Stephen Rohde sold 5,000 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $21.89, for a total transaction of $109,450.00. Following the completion of the transaction, the director directly owned 5,000 shares of the company’s stock, valued at approximately $109,450. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 399,788 shares of company stock valued at $8,798,676. Corporate insiders own 50.80% of the company’s stock.

Hedge Funds Weigh In On Slide Insurance

A number of institutional investors and hedge funds have recently modified their holdings of SLDE. WINTON GROUP Ltd increased its position in shares of Slide Insurance by 153.5% during the 2nd quarter. WINTON GROUP Ltd now owns 28,500 shares of the company’s stock valued at $552,000 after purchasing an additional 17,256 shares during the last quarter. Engineers Gate Manager LP bought a new stake in Slide Insurance in the second quarter worth $688,000. Allianz Asset Management GmbH bought a new stake in Slide Insurance in the second quarter worth $14,530,000. Corient Private Wealth LP boosted its stake in Slide Insurance by 12.3% during the second quarter. Corient Private Wealth LP now owns 39,503 shares of the company’s stock worth $765,000 after buying an additional 4,323 shares during the period. Finally, California State Teachers Retirement System boosted its stake in Slide Insurance by 2,565.5% during the second quarter. California State Teachers Retirement System now owns 674,851 shares of the company’s stock worth $13,072,000 after buying an additional 649,533 shares during the period.

Slide Insurance Stock Up 1.6%

Shares of SLDE stock opened at $24.84 on Friday. The company’s fifty day simple moving average is $21.91 and its two-hundred day simple moving average is $19.47. Slide Insurance has a 52 week low of $12.53 and a 52 week high of $25.09. The stock has a market cap of $2.90 billion, a P/E ratio of 6.06 and a beta of 0.07. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.02.

Slide Insurance (NASDAQ:SLDE) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $1.06 earnings per share 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 during the quarter. Analysts predict that Slide Insurance will post 3.79 EPS for the current fiscal year.

Slide Insurance Dividend Announcement

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

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.