Slide Insurance (NASDAQ:SLDE) CRO Charles William Powell Sells 2,080 Shares of Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) CRO Charles William 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 transaction of $52,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Slide Insurance Trading Down 0.9%

NASDAQ SLDE opened at $24.46 on Wednesday. The firm’s fifty day moving average is $21.68 and its two-hundred day moving average is $19.33. Slide Insurance Holdings, Inc. has a one year low of $12.53 and a one year high of $25.09. 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 has a market cap of $2.86 billion, a PE ratio of 5.97 and a beta of 0.07.

Slide Insurance (NASDAQ:SLDE) last released its quarterly earnings results on Tuesday, July 28th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.18. The firm 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%. Analysts expect that Slide Insurance Holdings, Inc. will post 3.79 earnings per share for the current year.

Slide Insurance Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Comerica Bank boosted its position in shares of Slide Insurance by 3,462.2% in the 4th quarter. Comerica Bank now owns 1,318 shares of the company’s stock worth $26,000 after buying an additional 1,281 shares in the last quarter. CWM LLC purchased a new position in Slide Insurance during the 4th quarter valued at about $35,000. Ameritas Investment Partners Inc. acquired a new position in Slide Insurance during the third quarter worth about $35,000. Global Retirement Partners LLC purchased a new stake in shares of Slide Insurance in the second quarter valued at about $39,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Slide Insurance in the second quarter valued at approximately $40,000.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SLDE. Weiss Ratings raised Slide Insurance from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 27th. Barclays boosted their price objective on shares of Slide Insurance from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Citizens Jmp raised their target price 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. Citigroup reaffirmed an “outperform” rating on shares of Slide Insurance in a report on Thursday, July 30th. Finally, Wall Street Zen lowered shares of Slide Insurance from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Slide Insurance currently has a consensus rating of “Buy” and a consensus 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.