188,163 Shares in Slide Insurance Holdings, Inc. $SLDE Purchased by Jupiter Topco LLC

Jupiter Topco LLC acquired a new stake in shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 188,163 shares of the company’s stock, valued at approximately $3,645,000.

Several other large investors also recently added to or reduced their stakes in SLDE. Hsbc Holdings PLC bought a new position in Slide Insurance in the 2nd quarter worth about $1,077,000. Canada Pension Plan Investment Board bought a new stake in shares of Slide Insurance during the second quarter valued at approximately $583,000. Legal & General Group Plc bought a new stake in shares of Slide Insurance during the second quarter valued at approximately $780,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Slide Insurance in the second quarter valued at approximately $584,000. Finally, Algert Global LLC bought a new position in Slide Insurance in the second quarter worth approximately $1,828,000.

Insider Buying and Selling at Slide Insurance

In other news, COO Shannon Lucas sold 19,058 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $17.03, for a total transaction of $324,557.74. Following the completion of the sale, the chief operating officer owned 1,123,415 shares in the company, valued at approximately $19,131,757.45. This represents a 1.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andrew Pardo Wright sold 31,002 shares of the stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $18.01, for a total value of $558,346.02. Following the sale, the director owned 48,998 shares of the company’s stock, valued at approximately $882,453.98. This represents a 38.75% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 491,691 shares of company stock valued at $9,021,426. Corporate insiders own 50.80% of the company’s stock.

Slide Insurance Stock Up 0.2%

NASDAQ:SLDE opened at $23.29 on Wednesday. Slide Insurance Holdings, Inc. has a fifty-two week low of $12.53 and a fifty-two week high of $23.75. The stock has a market capitalization of $2.72 billion, a P/E ratio of 5.68 and a beta of 0.06. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.23 and a current ratio of 1.23. The company’s 50-day simple moving average is $21.12 and its 200-day simple moving average is $19.06.

Slide Insurance (NASDAQ:SLDE) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.88 by $0.18. Slide Insurance had a net margin of 40.02% and a return on equity of 50.69%. The firm had revenue of $386.82 million during the quarter. On average, equities analysts anticipate that Slide Insurance Holdings, Inc. will post 3.79 earnings per share for the current fiscal year.

Slide Insurance Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, August 14th. Slide Insurance’s payout ratio is currently 6.83%.

Wall Street Analyst Weigh In

SLDE has been the topic of several research reports. Zacks Research upgraded Slide Insurance from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Morgan Stanley set a $22.00 price target on Slide Insurance in a research report on Monday, August 3rd. Wall Street Zen lowered Slide Insurance from a “buy” rating to a “hold” rating in a research note on Saturday. Keefe, Bruyette & Woods lifted their price objective on Slide Insurance from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Finally, Citigroup reiterated an “outperform” rating on shares of Slide Insurance in a report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $25.40.

Slide Insurance Profile

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.