Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Stock Has Consensus Price Target of $25.40

Key Points

• Analysts remain moderately bullish: Nine brokerages give Slide Insurance a consensus “Moderate Buy” rating, with an average 12-month price target of $25.40 versus the reported $23.89 share price.
• Quarterly results exceeded expectations: Slide reported earnings of $1.06 per share, beating the $0.88 consensus estimate, on revenue of $386.82 million. The company posted a 40.02% net margin and 50.69% return on equity.
• Shareholders received a dividend, while insiders sold shares: Slide paid a quarterly dividend of $0.07, equivalent to a 1.2% annual yield, but insiders sold 245,142 shares worth approximately $5.85 million over the last three months.

Shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Get Free Report) have been assigned an average rating of "Moderate Buy" from the nine brokerages that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $25.40.

A number of brokerages have issued reports on SLDE. Zacks Research lowered shares of Slide Insurance from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 29th. Barclays upped their price target on shares of Slide Insurance from $27.00 to $28.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 29th. Keefe, Bruyette & Woods increased their price objective on Slide Insurance from $24.00 to $26.00 and gave the stock an "outperform" rating in a report on Monday, August 3rd. Morgan Stanley set a $22.00 price objective on Slide Insurance in a research report on Monday, August 3rd. Finally, Weiss Ratings upgraded Slide Insurance from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, August 27th.

Slide Insurance Price Performance

NASDAQ SLDE opened at $23.89 on Wednesday. The company has a 50 day simple moving average of $23.07 and a 200-day simple moving average of $20.17. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of 5.83 and a beta of 0.13. Slide Insurance has a 52-week low of $14.20 and a 52-week high of $26.75.

Slide Insurance (NASDAQ:SLDE - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.18. The firm had revenue of $386.82 million for the quarter. Slide Insurance had a net margin of 40.02% and a return on equity of 50.69%. Equities research analysts predict that Slide Insurance will post 3.76 earnings per share for the current fiscal year.

Slide Insurance Announces Dividend

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

Insider Transactions at Slide Insurance

In other Slide Insurance news, Director Robert Gries, Jr. sold 107,510 shares of Slide Insurance stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $24.44, for a total value of $2,627,544.40. Following the completion of the sale, the director directly owned 1,585,211 shares in the company, valued at $38,742,556.84. The trade was a 6.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen L. Rohde sold 7,500 shares of the business's stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $26.40, for a total transaction of $198,000.00. Following the completion of the sale, the director directly owned 7,500 shares of the company's stock, valued at $198,000. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 245,142 shares of company stock worth $5,849,534. Corporate insiders own 50.80% of the company's stock.

Institutional Investors Weigh In On Slide Insurance

Several institutional investors and hedge funds have recently modified their holdings of SLDE. Hsbc Holdings PLC lifted its holdings in Slide Insurance by 8.4% in the 1st 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 last quarter. Global Retirement Partners LLC acquired a new position in Slide Insurance during the second quarter valued at approximately $39,000. Meeder Asset Management Inc. bought a new position in shares of Slide Insurance in the second quarter valued at approximately $40,000. California State Teachers Retirement System raised its position in shares of Slide Insurance by 9.5% in the first quarter. California State Teachers Retirement System now owns 25,318 shares of the company's stock valued at $456,000 after purchasing an additional 2,189 shares during the period. Finally, State of Wyoming acquired a new stake in shares of Slide Insurance in the first quarter worth $42,000.

About Slide Insurance

Slide Insurance is a technology-enabled property and casualty insurance company focused primarily on homeowners insurance. The company uses data, analytics and digital tools to provide coverage, manage policies and support claims for residential property owners.

Its products are designed for homeowners and may include coverage for the dwelling, personal property, liability and related risks, subject to the terms of each policy. Slide operates in catastrophe-exposed property insurance markets, where technology and risk-management capabilities are important to underwriting and claims administration.

Slide was founded by Bruce Lucas, an insurance industry executive who previously led Heritage Insurance Holdings.

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