Slide Insurance (NASDAQ:SLDE) Price Target Raised to $28.00

Slide Insurance (NASDAQ:SLDE) had its price objective lifted by Citizens Jmp from $27.00 to $28.00 in a report released on Monday,Benzinga reports. They currently have a market outperform rating on the stock.

A number of other research analysts have also issued reports on the stock. Wall Street Zen upgraded shares of Slide Insurance from a “hold” rating to a “buy” rating in a report on Saturday, September 19th. Barclays boosted their target price on shares of Slide Insurance from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Zacks Research lowered shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 29th. Keefe, Bruyette & Woods upped 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. Finally, Morgan Stanley set a $22.00 price target on shares of Slide Insurance in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Slide Insurance currently has a consensus rating of “Moderate Buy” and an average price target of $25.60.

Slide Insurance Price Performance

Shares of SLDE opened at $25.67 on Monday. 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 stock has a market cap of $3.00 billion, a PE ratio of 6.22 and a beta of 0.13. Slide Insurance has a 12-month low of $14.20 and a 12-month high of $26.75. The business has a 50-day simple moving average of $23.62 and a two-hundred day simple moving average of $20.50.

Slide Insurance (NASDAQ:SLDE) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $1.06 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 firm had revenue of $386.82 million for the quarter. Analysts anticipate that Slide Insurance will post 3.84 earnings per share for the current fiscal year.

Slide Insurance Announces Dividend

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

Insider Buying and Selling

In related news, Director Stephen Rohde sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $26.40, for a total value of $198,000.00. Following the sale, the director directly owned 7,500 shares in the company, valued at $198,000. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Matthew Larson sold 11,374 shares of the stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $24.62, for a total transaction of $280,027.88. Following the sale, the insider directly owned 11,374 shares of the company’s stock, valued at $280,027.88. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 245,142 shares of company stock valued at $5,849,534 in the last ninety days. Insiders own 50.80% of the company’s stock.

Institutional Investors Weigh In On Slide Insurance

A number of institutional investors have recently modified their holdings of the company. WINTON GROUP Ltd lifted its stake in Slide Insurance by 153.5% in the second quarter. WINTON GROUP Ltd now owns 28,500 shares of the company’s stock valued at $552,000 after buying an additional 17,256 shares during the period. Engineers Gate Manager LP acquired a new position in shares of Slide Insurance during the second quarter valued at about $688,000. Allianz Asset Management GmbH acquired a new position in Slide Insurance during the 2nd quarter valued at about $14,530,000. Corient Private Wealth LP boosted its position in shares of Slide Insurance by 12.3% during the second quarter. Corient Private Wealth LP now owns 39,503 shares of the company’s stock valued at $765,000 after buying an additional 4,323 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Slide Insurance in the 2nd quarter worth $836,000.

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.