Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE) have received an average rating of “Moderate Buy” from the nine research firms that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $25.40.

Several analysts have recently weighed in on SLDE shares. Citizens Jmp lifted their target price 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 restated an “outperform” rating on shares of Slide Insurance in a research report on Thursday, July 30th. Wall Street Zen upgraded shares of Slide Insurance from a “hold” rating to a “buy” rating in a research report on Saturday, September 19th. Barclays lifted their price objective on Slide Insurance from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Finally, Keefe, Bruyette & Woods boosted their target price on Slide Insurance from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd.

Insider Activity at Slide Insurance

In related news, Director Stephen Rohde sold 7,500 shares of the business’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $26.40, for a total transaction of $198,000.00. Following the sale, the director owned 7,500 shares of the company’s stock, valued at approximately $198,000. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Matthew Larson sold 11,374 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $26.00, for a total value of $295,724.00. Following the sale, the insider directly owned 11,374 shares in the company, valued at $295,724. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 245,142 shares of company stock worth $5,849,534 over the last three months. 50.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Global Retirement Partners LLC purchased a new stake in Slide Insurance in the 2nd quarter valued at about $39,000. Meeder Asset Management Inc. purchased a new position in shares of Slide Insurance during the 2nd quarter worth about $40,000. State of Wyoming purchased a new position in shares of Slide Insurance during the 1st quarter worth about $42,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Slide Insurance by 4,839.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,519 shares of the company’s stock worth $49,000 after acquiring an additional 2,468 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Slide Insurance in the second quarter worth approximately $85,000.

Slide Insurance Price Performance

Slide Insurance stock opened at $25.14 on Wednesday. The stock has a 50 day moving average of $23.32 and a two-hundred day moving average of $20.34. Slide Insurance has a twelve month low of $14.20 and a twelve month high of $26.75. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of 6.13 and a beta of 0.13. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.02.

Slide Insurance (NASDAQ:SLDE) last released its earnings results on Tuesday, July 28th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.18. Slide Insurance had a return on equity of 50.69% and a net margin of 40.02%. The business had revenue of $386.82 million for the quarter. As a group, research analysts expect that Slide Insurance will post 3.84 earnings per share for the current year.

Slide Insurance Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders 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 yield of 1.1%. Slide Insurance’s dividend payout ratio (DPR) is 6.83%.

About Slide Insurance

Slide Insurance is a technology-enabled property and casualty insurance company focused primarily on homeowners insurance. The company uses data, analytics and digital tools to provide coverage, manage policies and support claims for residential property owners.

Its products are designed for homeowners and may include coverage for the dwelling, personal property, liability and related risks, subject to the terms of each policy. Slide operates in catastrophe-exposed property insurance markets, where technology and risk-management capabilities are important to underwriting and claims administration.

Slide was founded by Bruce Lucas, an insurance industry executive who previously led Heritage Insurance Holdings.