22,328 Shares in Slide Insurance Holdings, Inc. $SLDE Bought by Two Sigma Securities LLC

Two Sigma Securities LLC acquired a new stake in shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 22,328 shares of the company’s stock, valued at approximately $432,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Slide Insurance by 36.0% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,671 shares of the company’s stock worth $710,000 after acquiring an additional 9,700 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of Slide Insurance by 156.3% in the 2nd quarter. Hsbc Holdings PLC now owns 54,464 shares of the company’s stock worth $1,077,000 after purchasing an additional 33,213 shares in the last quarter. Empowered Funds LLC acquired a new stake in shares of Slide Insurance in the 2nd quarter worth $1,252,000. Public Employees Retirement System of Ohio purchased a new position in Slide Insurance during the 2nd quarter worth $85,000. Finally, Capstone Investment Advisors LLC purchased a new position in Slide Insurance during the 2nd quarter worth $1,030,000.

Insider Buying and Selling

In related news, CEO Bruce Lucas sold 192,695 shares of the stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $17.03, for a total value of $3,281,595.85. Following the transaction, the chief executive officer owned 34,550,666 shares in the company, valued at approximately $588,397,841.98. This represents a 0.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrew Pardo Wright sold 31,002 shares of Slide Insurance stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $18.01, for a total transaction of $558,346.02. Following the sale, the director owned 48,998 shares of the company’s stock, valued at approximately $882,453.98. The trade was a 38.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 491,691 shares of company stock worth $9,021,426 in the last quarter. 50.80% of the stock is currently owned by corporate insiders.

Slide Insurance Stock Performance

Shares of SLDE stock opened at $24.18 on Thursday. The business has a fifty day moving average of $21.23 and a 200 day moving average of $19.11. Slide Insurance Holdings, Inc. has a 1 year low of $12.53 and a 1 year high of $24.22. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 5.90 and a beta of 0.07.

Slide Insurance (NASDAQ:SLDE) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.18. The business had revenue of $386.82 million for the quarter. Slide Insurance had a return on equity of 50.69% and a net margin of 40.02%. As a group, research analysts expect that Slide Insurance Holdings, Inc. will post 3.79 earnings per share for the current year.

Slide Insurance Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a $0.07 dividend. The ex-dividend date was Friday, August 14th. This represents a $0.28 dividend on an annualized basis and a yield of 1.2%. Slide Insurance’s dividend payout ratio is currently 6.83%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on SLDE shares. Weiss Ratings raised Slide Insurance from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 27th. Citizens Jmp upped their price objective on shares of Slide Insurance from $25.00 to $27.00 and gave the company a “market outperform” rating in a report on Thursday, July 30th. Citigroup reaffirmed an “outperform” rating on shares of Slide Insurance in a research report on Thursday, July 30th. Barclays lifted their target price on shares of Slide Insurance from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Slide Insurance from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price 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.