Analysts Set Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Target Price at $25.40

Shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE) have earned an average rating of “Buy” from the nine brokerages that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $25.40.

Several brokerages recently weighed in on SLDE. Citizens Jmp boosted their target price on shares of Slide Insurance from $25.00 to $27.00 and gave the company a “market outperform” rating in a research note on Thursday, July 30th. Zacks Research raised shares of Slide Insurance from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. Citigroup reiterated an “outperform” rating on shares of Slide Insurance in a report on Thursday, July 30th. Morgan Stanley set a $22.00 price objective on shares of Slide Insurance in a research report on Monday, August 3rd. Finally, Barclays upped their price objective on shares of Slide Insurance from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th.

Slide Insurance Stock Performance

Slide Insurance stock opened at $24.95 on Friday. Slide Insurance has a fifty-two week low of $13.26 and a fifty-two week high of $26.75. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 6.09 and a beta of 0.07. The stock has a fifty day moving average of $22.39 and a two-hundred day moving average of $19.72. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.23 and a current ratio of 1.23.

Slide Insurance (NASDAQ:SLDE) last issued its quarterly earnings data 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 business 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, analysts anticipate that Slide Insurance will post 3.79 EPS for the current fiscal year.

Slide Insurance Dividend Announcement

The firm 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. The ex-dividend date was Friday, August 14th. This represents a $0.28 annualized dividend and a yield of 1.1%. Slide Insurance’s payout ratio is 6.83%.

Insiders Place Their Bets

In related news, insider Matthew Larson sold 11,374 shares of the company’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $24.62, for a total value of $280,027.88. Following the completion of the transaction, the insider directly owned 11,374 shares in the company, valued at approximately $280,027.88. This 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 the SEC website. Also, Director Robert Gries, Jr. sold 107,510 shares of the stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $24.44, for a total value of $2,627,544.40. Following the transaction, the director owned 1,585,211 shares in the company, valued at $38,742,556.84. This trade represents a 6.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 418,992 shares of company stock valued at $9,301,056 in the last quarter. 50.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Slide Insurance

A number of institutional investors have recently bought and sold shares of the stock. Comerica Bank grew its holdings in Slide Insurance by 3,462.2% in the fourth quarter. Comerica Bank now owns 1,318 shares of the company’s stock valued at $26,000 after purchasing an additional 1,281 shares during the period. Hsbc Holdings PLC raised its stake in Slide Insurance by 8.4% during the first quarter. Hsbc Holdings PLC now owns 21,251 shares of the company’s stock worth $384,000 after purchasing an additional 1,641 shares during the period. Global Retirement Partners LLC acquired a new position in shares of Slide Insurance in the 2nd quarter valued at $39,000. Meeder Asset Management Inc. acquired a new position in shares of Slide Insurance in the 2nd quarter valued at $40,000. Finally, California State Teachers Retirement System grew its stake in shares of Slide Insurance by 9.5% during the 1st quarter. California State Teachers Retirement System now owns 25,318 shares of the company’s stock valued at $456,000 after buying an additional 2,189 shares during the period.

Slide Insurance Company Profile

Slide Insurance is a technology-enabled property and casualty insurance company focused on personal residential coverage. Through its insurance operations, the company provides homeowners insurance and related products designed to protect homes and personal property against covered risks, including weather-related events.

Slide uses data-driven underwriting, digital tools and automated claims and policy-management capabilities to support the distribution and servicing of insurance policies.