Robert Gries, Jr. Sells 61,762 Shares of Slide Insurance (NASDAQ:SLDE) Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Robert Gries, Jr. sold 61,762 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $24.28, for a total value of $1,499,581.36. Following the transaction, the director directly owned 1,523,449 shares in the company, valued at approximately $36,989,341.72. This represents a 3.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Slide Insurance Stock Up 1.6%

SLDE opened at $24.84 on Friday. The business has a 50 day moving average price of $21.91 and a two-hundred day moving average price of $19.47. 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 company has a market cap of $2.90 billion, a PE ratio of 6.06 and a beta of 0.07. Slide Insurance Holdings, Inc. has a 52 week low of $12.53 and a 52 week high of $25.09.

Slide Insurance (NASDAQ:SLDE) last announced its earnings results on Tuesday, July 28th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.18. The company 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%. As a group, research analysts anticipate that Slide Insurance Holdings, Inc. will post 3.79 EPS for the current year.

Slide Insurance Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.28 annualized dividend and a dividend yield of 1.1%. Slide Insurance’s dividend payout ratio (DPR) is currently 6.83%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SLDE. Zacks Research upgraded shares of Slide Insurance from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. Wall Street Zen downgraded shares of Slide Insurance from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Citigroup reiterated an “outperform” rating on shares of Slide Insurance in a research note on Thursday, July 30th. Weiss Ratings raised shares of Slide Insurance from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 27th. Finally, Keefe, Bruyette & Woods raised 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. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $25.40.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Comerica Bank lifted 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 acquiring an additional 1,281 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in shares of Slide Insurance during the 3rd quarter worth $35,000. Global Retirement Partners LLC acquired a new position in shares of Slide Insurance during the 2nd quarter worth $39,000. Meeder Asset Management Inc. acquired a new position in shares of Slide Insurance during the 2nd quarter worth $40,000. Finally, State of Wyoming purchased a new position in shares of Slide Insurance in the 1st quarter valued at about $42,000.

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.