Slide Insurance (NASDAQ:SLDE) Price Target Raised to $33.00

Slide Insurance (NASDAQ:SLDE) had its price objective increased by Citizens Jmp from $28.00 to $33.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Citizens Jmp currently has a market outperform rating on the stock.

SLDE has been the subject of several other research reports. Weiss Ratings raised Slide Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Zacks Research downgraded Slide Insurance from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 29th. Wall Street Zen raised Slide Insurance from a “hold” rating to a “buy” rating in a research report on Saturday, September 19th. Keefe, Bruyette & Woods boosted their price target on Slide Insurance from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Finally, Barclays upped their price target on Slide Insurance from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday. One 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. Based on data from MarketBeat, Slide Insurance currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.33.

Slide Insurance Stock Performance

NASDAQ:SLDE opened at $27.73 on Wednesday. The firm’s fifty day simple moving average is $25.01 and its 200 day simple moving average is $20.15. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.02. Slide Insurance has a twelve month low of $15.11 and a twelve month high of $29.15. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 6.30 and a beta of 0.13.

Slide Insurance (NASDAQ:SLDE) last announced its quarterly earnings results on Tuesday, October 27th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.44. Slide Insurance had a return on equity of 51.12% and a net margin of 39.28%. The firm had revenue of $361.05 million during the quarter, compared to the consensus estimate of $398.08 million. As a group, equities research analysts expect that Slide Insurance will post 3.84 earnings per share for the current fiscal year.

Slide Insurance Announces Dividend

The company also recently disclosed a special dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 23rd will be issued a $1.50 dividend. The ex-dividend date is Monday, November 23rd. Slide Insurance’s payout ratio is currently 6.36%.

Insider Buying and Selling at Slide Insurance

In other news, Director Stephen L. Rohde sold 7,500 shares of the firm’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $26.40, for a total transaction of $198,000.00. Following the completion of the sale, the director directly owned 7,500 shares in the company, valued at $198,000. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Matthew Larson sold 11,374 shares of Slide Insurance stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $24.62, for a total value of $280,027.88. Following the sale, the insider directly owned 11,374 shares in the company, valued at approximately $280,027.88. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 253,892 shares of company stock valued at $6,128,294 in the last ninety days. Insiders own 50.80% of the company’s stock.

Institutional Investors Weigh In On Slide Insurance

Hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of Slide Insurance in the 2nd quarter valued at about $98,538,000. Arrowstreet Capital Limited Partnership grew its stake in Slide Insurance by 298.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,687,802 shares of the company’s stock worth $48,380,000 after purchasing an additional 2,012,428 shares in the last quarter. Lazard Asset Management LLC grew its stake in Slide Insurance by 27.2% in the first quarter. Lazard Asset Management LLC now owns 849,967 shares of the company’s stock worth $15,299,000 after purchasing an additional 181,795 shares in the last quarter. Allianz Asset Management GmbH acquired a new position in Slide Insurance in the second quarter worth about $14,530,000. Finally, Man Group plc bought a new stake in Slide Insurance in the second quarter valued at about $12,229,000.

Slide Insurance Company Profile

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.