Slide Insurance (NASDAQ:SLDE) Director Beth Witte Bruce Sells 25,000 Shares of Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Beth Bruce sold 25,000 shares of Slide Insurance stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $27.26, for a total value of $681,500.00. Following the completion of the sale, the director owned 154,645 shares in the company, valued at approximately $4,215,622.70. The trade was a 13.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Slide Insurance Price Performance

Shares of Slide Insurance stock opened at $26.18 on Tuesday. The stock has a market capitalization of $3.07 billion, a P/E ratio of 6.20 and a beta of -0.19. The business has a 50 day simple moving average of $25.43 and a two-hundred day simple moving average of $20.45. Slide Insurance Holdings, Inc. has a 12 month low of $15.11 and a 12 month high of $29.15. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.27 and a quick ratio of 1.23.

Slide Insurance (NASDAQ:SLDE) last announced its quarterly earnings data on Tuesday, October 27th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.44. The company had revenue of $361.05 million during the quarter, compared to analysts’ expectations of $398.08 million. Slide Insurance had a net margin of 39.28% and a return on equity of 49.36%. As a group, analysts predict that Slide Insurance Holdings, Inc. will post 3.99 EPS for the current fiscal year.

Slide Insurance Dividend Announcement

The company also recently announced a special dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 23rd will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, November 23rd. Slide Insurance’s payout ratio is 6.36%.

Institutional Trading of Slide Insurance

Institutional investors and hedge funds have recently bought and sold shares of the stock. Global Retirement Partners LLC purchased a new position in Slide Insurance during the second quarter worth about $39,000. Meeder Asset Management Inc. purchased a new stake in shares of Slide Insurance in the 2nd quarter valued at approximately $40,000. State of Wyoming purchased a new stake in shares of Slide Insurance in the 1st quarter valued at approximately $42,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Slide Insurance in the 2nd quarter valued at approximately $85,000. Finally, Royal Bank of Canada lifted its holdings in shares of Slide Insurance by 221.0% in the 1st quarter. Royal Bank of Canada now owns 5,993 shares of the company’s stock worth $109,000 after acquiring an additional 4,126 shares during the last quarter.

Wall Street Analyst Weigh In

SLDE has been the subject of several analyst reports. Citigroup reissued a “buy” rating on shares of Slide Insurance in a research note on Wednesday, October 28th. Citizens Jmp lifted their price target on shares of Slide Insurance from $28.00 to $33.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 28th. Zacks Research lowered shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 29th. Weiss Ratings upgraded Slide Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Finally, Morgan Stanley set a $22.00 price objective on Slide Insurance in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $28.33.

About Slide Insurance

Slide Insurance is a technology-enabled property and casualty insurance company focused on residential property coverage. Through its insurance operations, the company offers homeowners insurance and related coverage for personal residences.

Founded in 2021 by insurance executive Bruce Lucas, Slide built its business in the southeastern United States, including Florida. The company uses technology and data to support policy administration, underwriting and claims services.

Bruce Lucas serves as Slide’s chairman and chief executive officer.