Slide Insurance (NASDAQ:SLDE) Director Stephen Rohde Sells 5,000 Shares

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Stephen Rohde sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $21.89, for a total transaction of $109,450.00. Following the completion of the transaction, the director owned 5,000 shares in the company, valued at $109,450. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Slide Insurance Trading Up 3.1%

NASDAQ:SLDE opened at $22.26 on Wednesday. Slide Insurance Holdings, Inc. has a 52 week low of $12.53 and a 52 week high of $23.00. 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 firm’s fifty day moving average is $19.86 and its 200-day moving average is $18.63. The firm has a market cap of $2.60 billion, a P/E ratio of 5.43 and a beta of -0.04.

Slide Insurance (NASDAQ:SLDE) last announced its earnings results on Tuesday, July 28th. The company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.18. The business had revenue of $386.82 million during the quarter. Slide Insurance had a net margin of 40.02% and a return on equity of 50.69%. Equities analysts expect that Slide Insurance Holdings, Inc. will post 3.91 earnings per share for the current year.

Slide Insurance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a $0.07 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.28 annualized dividend and a dividend yield of 1.3%. Slide Insurance’s dividend payout ratio (DPR) is 6.83%.

Slide Insurance declared that its Board of Directors has initiated a share repurchase plan on Tuesday, April 28th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Slide Insurance

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Slide Insurance during the second quarter valued at approximately $98,538,000. Arrowstreet Capital Limited Partnership raised its position in shares of Slide Insurance by 298.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,687,802 shares of the company’s stock worth $48,380,000 after purchasing an additional 2,012,428 shares during the period. Raymond James Financial Inc. bought a new position in shares of Slide Insurance in the 2nd quarter worth $33,063,000. Balyasny Asset Management L.P. lifted its holdings in shares of Slide Insurance by 314.8% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,378,054 shares of the company’s stock worth $21,753,000 after purchasing an additional 1,045,826 shares in the last quarter. Finally, HB Wealth Management LLC grew its position in Slide Insurance by 1,375.7% in the 4th quarter. HB Wealth Management LLC now owns 892,586 shares of the company’s stock valued at $17,388,000 after purchasing an additional 832,102 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods raised their target price on Slide Insurance from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Wall Street Zen raised Slide Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Barclays increased their price target on Slide Insurance from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Zacks Research raised shares of Slide Insurance from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. Finally, Citizens Jmp lifted their price objective on shares of Slide Insurance from $25.00 to $27.00 and gave the company a “market outperform” rating in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Slide Insurance currently has an average rating of “Buy” and an average price target of $25.40.

Slide Insurance Company Profile

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.