Slide Insurance (NASDAQ:SLDE) Director Sells $681,500.00 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Beth Bruce sold 25,000 shares of the stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $27.26, for a total transaction of $681,500.00. Following the transaction, the director directly owned 154,645 shares of the company’s stock, valued at approximately $4,215,622.70. This trade represents a 13.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Slide Insurance Price Performance

Shares of SLDE opened at $26.04 on Thursday. The firm has a 50-day simple moving average of $25.55 and a two-hundred day simple moving average of $20.56. The stock has a market cap of $3.05 billion, a PE ratio of 5.92 and a beta of -0.19. Slide Insurance Holdings, Inc. has a 1-year low of $15.11 and a 1-year high of $29.15. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.27 and a quick ratio of 1.27.

Slide Insurance (NASDAQ:SLDE) last issued its quarterly earnings data on Tuesday, October 27th. The company reported $1.09 EPS for the quarter, topping the consensus estimate of $0.65 by $0.44. Slide Insurance had a net margin of 39.28% and a return on equity of 49.36%. The firm had revenue of $361.05 million for the quarter, compared to analyst estimates of $398.08 million. As a group, analysts forecast that Slide Insurance Holdings, Inc. will post 3.99 EPS for the current year.

Slide Insurance Announces Dividend

The business also recently announced a special dividend, which will be paid on Monday, November 30th. Investors of record on Monday, November 23rd will be issued a $1.50 dividend. The ex-dividend date is Monday, November 23rd. Slide Insurance’s dividend payout ratio (DPR) is 6.36%.

Wall Street Analysts Forecast Growth

SLDE has been the topic of a number of research analyst reports. Weiss Ratings raised Slide Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Morgan Stanley set a $22.00 price target on Slide Insurance in a research report on Monday, August 3rd. Citigroup reaffirmed a “buy” rating on shares of Slide Insurance in a research note on Wednesday, October 28th. Zacks Research cut Slide Insurance from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 29th. Finally, Wall Street Zen downgraded Slide Insurance from a “buy” rating to a “hold” rating in a report on Saturday, October 31st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $28.33.

Institutional Trading of Slide Insurance

Several hedge funds have recently made changes to their positions in SLDE. Global Retirement Partners LLC acquired a new position in shares of Slide Insurance in the second quarter valued at approximately $39,000. Meeder Asset Management Inc. purchased a new stake in Slide Insurance during the 2nd quarter worth approximately $40,000. State of Wyoming acquired a new stake in Slide Insurance during the 1st quarter worth approximately $42,000. Public Employees Retirement System of Ohio acquired a new stake in Slide Insurance during the 2nd quarter worth approximately $85,000. Finally, Royal Bank of Canada lifted its holdings in Slide Insurance by 221.0% during the 1st quarter. Royal Bank of Canada now owns 5,993 shares of the company’s stock worth $109,000 after buying an additional 4,126 shares in the last quarter.

Slide Insurance Company Profile

Slide Insurance is a technology-enabled property and casualty insurance company focused on residential property coverage. Through its insurance operations, the company offers homeowners insurance and related coverage for personal residences. Founded in 2021 by insurance executive Bruce Lucas, Slide built its business in the southeastern United States, including Florida. The company uses technology and data to support policy administration, underwriting and claims services. Bruce Lucas serves as Slide’s chairman and chief executive officer.