Slide Insurance (NASDAQ:SLDE) Issues Earnings Results, Beats Expectations By $0.44 EPS

Slide Insurance (NASDAQ:SLDE) posted its quarterly earnings results on Tuesday. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.44, Zacks reports. Slide Insurance had a return on equity of 50.69% and a net margin of 40.02%. The firm had revenue of $361.05 million during the quarter, compared to analyst estimates of $398.08 million.

Slide Insurance Trading Up 0.6%

SLDE traded up $0.17 on Thursday, hitting $27.36. The company had a trading volume of 338,638 shares, compared to its average volume of 1,428,261. The company has a market cap of $3.20 billion, a PE ratio of 6.67 and a beta of 0.13. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.02. The business’s fifty day simple moving average is $24.80 and its 200 day simple moving average is $20.05. Slide Insurance has a 12-month low of $15.11 and a 12-month high of $29.15.

Slide Insurance Dividend Announcement

The firm also recently declared a special dividend, which will be paid on Monday, November 30th. Investors of record on Monday, November 23rd will be given a $1.50 dividend. The ex-dividend date is Monday, November 23rd. Slide Insurance’s payout ratio is currently 6.83%.

Analysts Set New Price Targets

Several brokerages recently issued reports on SLDE. Keefe, Bruyette & Woods boosted their price target on shares of Slide Insurance from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Zacks Research lowered Slide Insurance from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 29th. Citigroup reissued a “buy” rating on shares of Slide Insurance in a research report on Wednesday. Morgan Stanley set a $22.00 price objective on shares of Slide Insurance in a research note on Monday, August 3rd. Finally, Citizens Jmp boosted their price objective on shares of Slide Insurance from $28.00 to $33.00 and gave the stock a “market outperform” rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Slide Insurance currently has an average rating of “Moderate Buy” and a consensus price target of $28.33.

Insider Transactions at Slide Insurance

In other Slide Insurance news, Director Stephen Rohde sold 7,500 shares of the firm’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 transaction, the director owned 7,500 shares of the company’s stock, valued at approximately $198,000. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert Gries, Jr. sold 107,510 shares of the business’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $24.44, for a total value of $2,627,544.40. Following the transaction, the director owned 1,585,211 shares in the company, valued at approximately $38,742,556.84. This trade represents a 6.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 258,892 shares of company stock valued at $6,228,294. 50.80% of the stock is currently owned by company insiders.

About Slide Insurance

Slide Insurance Holdings, Inc is a technology-enabled property and casualty insurance company focused primarily on residential homeowners insurance. Through its digital platform, the company uses data, automation and analytics to support the quoting, underwriting, policy administration and claims processes.

Slide offers homeowners coverage designed to protect residential properties and personal belongings against covered risks, along with related liability protection and optional coverage features.