Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Stock Has Consensus Price Target of $25.40

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) has been given an average recommendation of “Moderate Buy” by the nine research firms that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $25.60.

Several equities analysts have commented on SLDE shares. Keefe, Bruyette & Woods boosted their price target on shares of 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 target on Slide Insurance in a research report on Monday, August 3rd. Wall Street Zen raised Slide Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, September 19th. Barclays lifted their target price on shares of Slide Insurance from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Finally, Citizens Jmp boosted their target price on shares of Slide Insurance from $27.00 to $28.00 and gave the stock a “market outperform” rating in a research report on Monday.

Insider Buying and Selling at Slide Insurance

In other Slide Insurance news, insider Matthew Larson sold 11,374 shares of the company’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $24.62, for a total value of $280,027.88. Following the sale, the insider owned 11,374 shares of the company’s stock, valued at $280,027.88. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Charles Powell sold 2,080 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $25.00, for a total value of $52,000.00. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 245,142 shares of company stock worth $5,849,534. 50.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Slide Insurance

Hedge funds have recently modified their holdings of the stock. WINTON GROUP Ltd grew its stake 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 buying an additional 17,256 shares during the period. Engineers Gate Manager LP acquired a new stake in Slide Insurance in the second quarter valued at approximately $688,000. Allianz Asset Management GmbH acquired a new stake in Slide Insurance during the 2nd quarter valued at $14,530,000. Corient Private Wealth LP boosted its holdings in Slide Insurance by 12.3% in the second quarter. Corient Private Wealth LP now owns 39,503 shares of the company’s stock valued at $765,000 after purchasing an additional 4,323 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Slide Insurance during the second quarter worth approximately $836,000.

Slide Insurance Price Performance

NASDAQ:SLDE opened at $25.50 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $2.98 billion, a P/E ratio of 6.23 and a beta of 0.13. The stock’s fifty day moving average is $23.52 and its two-hundred day moving average is $20.45. Slide Insurance has a 52 week low of $14.20 and a 52 week high of $26.75.

Slide Insurance (NASDAQ:SLDE) last announced its quarterly earnings results 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 net margin of 40.02% and a return on equity of 50.69%. The business had revenue of $386.82 million during the quarter. Equities analysts expect that Slide Insurance will post 3.84 EPS for the current year.

Slide Insurance Announces Dividend

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

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.