Matthew Paul Larson Sells 11,374 Shares of Slide Insurance (NASDAQ:SLDE) Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) insider Matthew Larson sold 11,374 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $24.62, for a total value of $280,027.88. Following the completion of the sale, the insider directly owned 11,374 shares in the company, valued at approximately $280,027.88. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Matthew Paul Larson also recently made the following trade(s):

• On Wednesday, June 10th, Matthew Larson sold 13,750 shares of Slide Insurance stock. The stock was sold at an average price of $17.07, for a total value of $234,712.50.

Slide Insurance Trading Down 0.9%

Shares of NASDAQ SLDE traded down $0.21 during trading on Tuesday, reaching $24.46. The stock had a trading volume of 1,180,519 shares, compared to its average volume of 1,438,531. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.23 and a current ratio of 1.23. The company has a market cap of $2.86 billion, a P/E ratio of 5.97 and a beta of 0.07. Slide Insurance Holdings, Inc. has a fifty-two week low of $12.53 and a fifty-two week high of $25.09. The business’s 50-day moving average price is $21.58 and its 200-day moving average price is $19.27.

Slide Insurance (NASDAQ:SLDE) last posted its earnings results on Tuesday, July 28th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter. On average, equities research analysts predict that Slide Insurance Holdings, Inc. will post 3.79 EPS for the current fiscal year.

Slide Insurance Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given 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 dividend payout ratio is currently 6.83%.

Analyst Ratings Changes

SLDE has been the subject of a number of research reports. Keefe, Bruyette & Woods lifted their price objective on shares of Slide Insurance from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Citigroup reissued an “outperform” rating on shares of Slide Insurance in a research report on Thursday, July 30th. Citizens Jmp boosted their price target on shares of Slide Insurance from $25.00 to $27.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 30th. Morgan Stanley set a $22.00 price objective on Slide Insurance in a research note on Monday, August 3rd. Finally, Barclays lifted their target price on Slide Insurance from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $25.40.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Slide Insurance in the 2nd quarter valued at $98,538,000. Arrowstreet Capital Limited Partnership increased its holdings in Slide Insurance by 298.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,687,802 shares of the company’s stock valued at $48,380,000 after buying an additional 2,012,428 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Slide Insurance in the second quarter valued at $33,063,000. Balyasny Asset Management L.P. raised its stake in Slide Insurance by 314.8% in the third quarter. Balyasny Asset Management L.P. now owns 1,378,054 shares of the company’s stock valued at $21,753,000 after buying an additional 1,045,826 shares in the last quarter. Finally, Allianz Asset Management GmbH purchased a new stake in Slide Insurance during the 2nd quarter worth about $14,530,000.

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.