39,401 Shares in Slide Insurance Holdings, Inc. $SLDE Bought by Globeflex Capital L P

Globeflex Capital L P purchased a new position in shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 39,401 shares of the company’s stock, valued at approximately $763,000.

Several other institutional investors have also recently modified their holdings of SLDE. Geode Capital Management LLC purchased a new stake in shares of Slide Insurance in the 2nd quarter valued at $2,245,000. Legal & General Group Plc purchased a new position in Slide Insurance in the 2nd quarter worth $216,000. Norges Bank purchased a new position in Slide Insurance in the 2nd quarter worth $866,000. Marshall Wace LLP bought a new stake in Slide Insurance in the second quarter worth $1,056,000. Finally, Qube Research & Technologies Ltd bought a new stake in Slide Insurance in the second quarter worth $834,000.

Insider Activity at Slide Insurance

In other Slide Insurance news, CEO Bruce Lucas sold 227,987 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $18.95, for a total value of $4,320,353.65. Following the sale, the chief executive officer owned 34,743,361 shares in the company, valued at approximately $658,386,690.95. This represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrew Pardo Wright sold 31,002 shares of Slide Insurance stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $18.01, for a total transaction of $558,346.02. Following the transaction, the director owned 48,998 shares of the company’s stock, valued at $882,453.98. The trade was a 38.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 768,226 shares of company stock worth $14,260,274 over the last 90 days. 50.80% of the stock is currently owned by insiders.

Slide Insurance Price Performance

Shares of SLDE stock opened at $23.64 on Tuesday. The business’s fifty day moving average is $20.34 and its 200 day moving average is $18.80. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.02. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of 5.77 and a beta of -0.04. Slide Insurance Holdings, Inc. has a twelve month low of $12.53 and a twelve month high of $23.75.

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

Slide Insurance declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, April 28th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to repurchase up to 4.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Slide Insurance Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, August 14th. Slide Insurance’s dividend payout ratio (DPR) is 6.83%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SLDE shares. Wall Street Zen raised shares of Slide Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Barclays increased 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. Keefe, Bruyette & Woods boosted their price objective on shares of Slide Insurance from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Slide Insurance in a report on Monday, August 3rd. Finally, Citizens Jmp upped their price objective on shares of Slide Insurance from $25.00 to $27.00 and gave the stock a “market outperform” rating in a report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target 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.