Matthew Paul Larson Sells 11,374 Shares of Slide Insurance (NASDAQ:SLDE) Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) insider Matthew Larson sold 11,374 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $24.62, for a total value of $280,027.88. Following the completion of the transaction, the insider owned 11,374 shares of the company’s stock, valued at approximately $280,027.88. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Matthew Paul Larson also recently made the following trade(s):

• On Wednesday, June 10th, Matthew Larson sold 13,750 shares of Slide Insurance stock. The stock was sold at an average price of $17.07, for a total value of $234,712.50.

Slide Insurance Price Performance

SLDE opened at $24.71 on Thursday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.02. The company has a market cap of $2.89 billion, a price-to-earnings ratio of 6.03 and a beta of 0.07. The stock has a fifty day simple moving average of $21.77 and a two-hundred day simple moving average of $19.38. Slide Insurance Holdings, Inc. has a 12-month low of $12.53 and a 12-month high of $25.09.

Slide Insurance (NASDAQ:SLDE) last released 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. Slide Insurance had a net margin of 40.02% and a return on equity of 50.69%. The firm had revenue of $386.82 million for the quarter. Research analysts predict that Slide Insurance Holdings, Inc. will post 3.79 earnings per share for the current fiscal year.

Slide Insurance Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were paid a dividend of $0.07 per share. 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 dividend payout ratio (DPR) is currently 6.83%.

Analysts Set New Price Targets

A number of brokerages have recently commented on SLDE. Barclays boosted their price target on Slide Insurance from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Citizens Jmp raised their price objective on Slide Insurance from $25.00 to $27.00 and gave the company a “market outperform” rating in a research report on Thursday, July 30th. Wall Street Zen cut Slide Insurance from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. Morgan Stanley set a $22.00 target price on Slide Insurance in a report on Monday, August 3rd. Finally, Keefe, Bruyette & Woods increased 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. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Slide Insurance currently has a consensus rating of “Buy” and an average target price of $25.40.

Hedge Funds Weigh In On Slide Insurance

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in shares of Slide Insurance in the second quarter worth approximately $98,538,000. Arrowstreet Capital Limited Partnership lifted its position in Slide Insurance by 298.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,687,802 shares of the company’s stock valued at $48,380,000 after purchasing an additional 2,012,428 shares during the period. Raymond James Financial Inc. purchased a new stake in Slide Insurance in the second quarter worth approximately $33,063,000. Balyasny Asset Management L.P. boosted its holdings in Slide Insurance by 314.8% in the third 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 during the last quarter. Finally, Allianz Asset Management GmbH bought a new stake in Slide Insurance in the 2nd quarter worth approximately $14,530,000.

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.