Slide Insurance Holdings, Inc. $SLDE Shares Sold by UBS Group AG

UBS Group AG cut its holdings in Slide Insurance Holdings, Inc. (NASDAQ:SLDE) by 25.8% in the 4th quarter, HoldingsChannel reports. The fund owned 108,948 shares of the company’s stock after selling 37,809 shares during the period. UBS Group AG’s holdings in Slide Insurance were worth $2,122,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Slide Insurance by 14.7% in the 4th quarter. Vanguard Group Inc. now owns 2,761,819 shares of the company’s stock valued at $53,800,000 after acquiring an additional 354,321 shares during the last quarter. Concurrent Investment Advisors LLC acquired a new stake in shares of Slide Insurance during the 4th quarter worth $789,000. ProVise Management Group LLC acquired a new stake in shares of Slide Insurance during the 4th quarter worth $357,000. HB Wealth Management LLC increased its holdings in shares of Slide Insurance by 1,375.7% during the 4th quarter. HB Wealth Management LLC now owns 892,586 shares of the company’s stock worth $17,388,000 after buying an additional 832,102 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Slide Insurance during the 4th quarter worth $690,000.

Slide Insurance Stock Up 0.4%

Shares of NASDAQ SLDE opened at $18.69 on Thursday. Slide Insurance Holdings, Inc. has a 12-month low of $12.53 and a 12-month high of $25.90. The company has a market cap of $2.14 billion and a P/E ratio of 5.19. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.03. The stock has a fifty day moving average price of $18.31 and a 200 day moving average price of $17.78.

Slide Insurance (NASDAQ:SLDE) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.20. Slide Insurance had a return on equity of 48.38% and a net margin of 38.86%.The firm had revenue of $389.28 million during the quarter. Research analysts anticipate that Slide Insurance Holdings, Inc. will post 3.51 EPS for the current fiscal year.

Slide Insurance declared that its board has authorized a share repurchase plan on Tuesday, April 28th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to purchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

SLDE has been the subject of a number of research analyst reports. Piper Sandler upped their price objective on Slide Insurance from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Texas Capital upgraded Slide Insurance to a “strong-buy” rating in a report on Wednesday, March 18th. Keefe, Bruyette & Woods upped their price objective on Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, March 9th. Zacks Research downgraded Slide Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, Wall Street Zen upgraded Slide Insurance from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.80.

Insider Transactions at Slide Insurance

In related news, Director Beth Witte Bruce sold 23,500 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $19.01, for a total value of $446,735.00. Following the completion of the sale, the director directly owned 179,645 shares in the company, valued at approximately $3,415,051.45. This represents a 11.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Matthew Paul Larson sold 11,250 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $18.56, for a total value of $208,800.00. Following the completion of the sale, the insider owned 11,250 shares of the company’s stock, valued at approximately $208,800. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 5,591,183 shares of company stock worth $103,967,650 in the last quarter. 50.80% of the stock is owned by corporate insiders.

About Slide Insurance

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.