Slide Insurance (NASDAQ:SLDE) Sets New 1-Year High – Time to Buy?

Slide Insurance Holdings, Inc. (NASDAQ:SLDE)’s stock price reached a new 52-week high during trading on Thursday. The company traded as high as $27.70 and last traded at $27.6150, with a volume of 504,999 shares trading hands. The stock had previously closed at $27.11.

Analyst Ratings Changes

SLDE has been the subject of several recent analyst reports. Weiss Ratings upgraded shares of Slide Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Keefe, Bruyette & Woods boosted their target price on shares of Slide Insurance from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Citizens Jmp upped their price target on shares of Slide Insurance from $27.00 to $28.00 and gave the company a “market outperform” rating in a research report on Monday, October 12th. Barclays upped their price target on shares of Slide Insurance from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Finally, Wall Street Zen upgraded Slide Insurance from a “hold” rating to a “buy” rating in a report on Saturday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Slide Insurance has a consensus rating of “Moderate Buy” and a consensus target price of $25.60.

Slide Insurance Stock Performance

The firm has a market capitalization of $3.24 billion, a P/E ratio of 6.77 and a beta of 0.13. The stock has a fifty day simple moving average of $24.23 and a two-hundred day simple moving average of $20.82. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.23 and a quick ratio of 1.23.

Slide Insurance (NASDAQ:SLDE) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.18. The firm had revenue of $386.82 million for the quarter. Slide Insurance had a return on equity of 50.69% and a net margin of 40.02%. On average, research analysts predict that Slide Insurance Holdings, Inc. will post 3.84 EPS for the current year.

Slide Insurance Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a $0.07 dividend. The ex-dividend date was Friday, August 14th. This represents a $0.28 annualized dividend and a dividend yield of 1.0%. Slide Insurance’s payout ratio is currently 6.83%.

Insider Activity at Slide Insurance

In other Slide Insurance news, Director Stephen L. Rohde sold 7,500 shares of the firm’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $26.40, for a total value of $198,000.00. Following the completion of the sale, the director directly owned 7,500 shares in the company, valued at approximately $198,000. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert Gries, Jr. sold 61,762 shares of Slide Insurance stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $24.28, for a total transaction of $1,499,581.36. Following the completion of the sale, the director directly owned 1,523,449 shares of the company’s stock, valued at approximately $36,989,341.72. This trade represents a 3.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 247,742 shares of company stock worth $5,921,112. 50.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Slide Insurance

Several institutional investors have recently made changes to their positions in SLDE. BlackRock Inc. bought a new position in shares of Slide Insurance during the 2nd quarter worth about $98,538,000. Arrowstreet Capital Limited Partnership increased its position in Slide Insurance by 298.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,687,802 shares of the company’s stock valued at $48,380,000 after buying an additional 2,012,428 shares in the last quarter. Lazard Asset Management LLC increased its position in Slide Insurance by 27.2% in the 1st quarter. Lazard Asset Management LLC now owns 849,967 shares of the company’s stock valued at $15,299,000 after buying an additional 181,795 shares in the last quarter. Allianz Asset Management GmbH bought a new stake in Slide Insurance in the 2nd quarter valued at about $14,530,000. Finally, Man Group plc acquired a new position in Slide Insurance during the 2nd quarter worth approximately $12,229,000.

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.