Stephen Rohde Sells 5,000 Shares of Slide Insurance (NASDAQ:SLDE) Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Stephen Rohde sold 5,000 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $21.89, for a total value of $109,450.00. Following the sale, the director owned 5,000 shares in the company, valued at $109,450. The trade was a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Slide Insurance Price Performance

Shares of Slide Insurance stock traded up $0.66 during trading on Tuesday, reaching $22.26. The company’s stock had a trading volume of 613,305 shares, compared to its average volume of 975,370. Slide Insurance Holdings, Inc. has a one year low of $12.53 and a one year high of $23.00. The stock has a 50-day moving average price of $19.86 and a two-hundred day moving average price of $18.63. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $2.60 billion, a P/E ratio of 5.35 and a beta of -0.04.

Slide Insurance (NASDAQ:SLDE) last released its earnings results on Tuesday, July 28th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.88 by $0.18. The company had revenue of $386.82 million during the quarter. Slide Insurance had a return on equity of 50.69% and a net margin of 40.02%. As a group, sell-side analysts anticipate that Slide Insurance Holdings, Inc. will post 3.91 EPS for the current fiscal year.

Slide Insurance Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.28 annualized dividend and a yield of 1.3%. Slide Insurance’s dividend payout ratio is currently 6.83%.

Slide Insurance declared that its board has approved a stock repurchase plan on Tuesday, April 28th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

SLDE has been the topic of a number of research analyst reports. Citizens Jmp raised their target price on Slide Insurance from $25.00 to $27.00 and gave the company a “market outperform” rating in a report on Thursday, July 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Slide Insurance in a research note on Monday, August 3rd. Keefe, Bruyette & Woods lifted their price target on Slide Insurance from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Morgan Stanley set a $22.00 target price on shares of Slide Insurance in a report on Monday, August 3rd. Finally, Citigroup reissued an “outperform” rating on shares of Slide Insurance in a research note on Thursday, July 30th. Two investment 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $25.40.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in Slide Insurance during the second quarter worth approximately $98,538,000. Vanguard Group Inc. grew its position in shares of Slide Insurance by 14.7% during the 4th quarter. Vanguard Group Inc. now owns 2,761,819 shares of the company’s stock worth $53,800,000 after buying an additional 354,321 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings 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 during the period. Balyasny Asset Management L.P. raised its holdings in Slide Insurance by 27.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,758,215 shares of the company’s stock worth $34,250,000 after buying an additional 380,161 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Slide Insurance in the 2nd quarter worth approximately $33,063,000.

About Slide Insurance

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.