Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Stock Has Consensus Price Target of $28.33

Key Points

• Analysts have a moderately bullish view of Slide Insurance, with nine firms assigning a consensus “Moderate Buy” rating and an average 12-month price target of $28.33. Recent targets range from $30 to $35, although Zacks downgraded the stock to “Hold.”
• Slide Insurance reported quarterly EPS of $1.09, beating the $0.65 consensus estimate, but revenue of $361.05 million fell short of expectations of $398.08 million. The stock opened at $27.73, near its 12-month high of $29.15.
• The company declared a $1.50-per-share special dividend payable November 30 to shareholders of record November 23. Meanwhile, insiders have sold 253,892 shares worth approximately $6.13 million over the past 90 days, while insiders retain a 50.8% ownership stake.

Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the nine ratings firms that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $28.33.

Several research firms have recently issued reports on SLDE. Raymond James Financial set a $35.00 price target on Slide Insurance in a research report on Wednesday. Citizens Jmp raised their price objective on shares of Slide Insurance from $28.00 to $33.00 and gave the company a "market outperform" rating in a research note on Wednesday. Zacks Research cut shares of Slide Insurance from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 29th. Barclays upped their target price on shares of Slide Insurance from $28.00 to $30.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, Citigroup reiterated a "buy" rating on shares of Slide Insurance in a report on Wednesday.

Slide Insurance Trading Up 0.7%

NASDAQ:SLDE opened at $27.73 on Friday. The company has a 50-day moving average price of $25.01 and a 200-day moving average price of $20.15. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of 6.30 and a beta of 0.13. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.02. Slide Insurance has a 12 month low of $15.11 and a 12 month high of $29.15.

Slide Insurance (NASDAQ:SLDE - Get Free Report) last issued its quarterly earnings results on Tuesday, October 27th. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.44. The company had revenue of $361.05 million for the quarter, compared to analysts' expectations of $398.08 million. Slide Insurance had a return on equity of 51.12% and a net margin of 39.28%. Equities analysts predict that Slide Insurance will post 3.84 EPS for the current year.

Slide Insurance Dividend Announcement

The business also recently declared a special dividend, which will be paid on Monday, November 30th. Stockholders of record on Monday, November 23rd will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, November 23rd. Slide Insurance's dividend payout ratio (DPR) is presently 6.36%.

Insider Activity at Slide Insurance

In other Slide Insurance news, Director Stephen L. Rohde sold 7,500 shares of the company's stock in a transaction that occurred on Monday, September 14th. The shares were 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 approximately $198,000. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Charles Powell sold 2,080 shares of the company's stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $25.00, for a total value of $52,000.00. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 253,892 shares of company stock worth $6,128,294. Company insiders own 50.80% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC grew its position in shares of Slide Insurance by 83.1% during the third quarter. Nisa Investment Advisors LLC now owns 11,353 shares of the company's stock worth $253,000 after purchasing an additional 5,153 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Slide Insurance in the 3rd quarter worth approximately $3,003,000. State of Alaska Department of Revenue lifted its holdings in Slide Insurance by 15.1% in the 3rd quarter. State of Alaska Department of Revenue now owns 33,109 shares of the company's stock worth $737,000 after purchasing an additional 4,340 shares in the last quarter. WINTON GROUP Ltd boosted its stake in Slide Insurance by 153.5% in the 2nd quarter. WINTON GROUP Ltd now owns 28,500 shares of the company's stock worth $552,000 after purchasing an additional 17,256 shares during the period. Finally, Engineers Gate Manager LP bought a new position in Slide Insurance in the 2nd quarter worth approximately $688,000.

Slide Insurance Company Profile

Slide Insurance Holdings, Inc is a technology-enabled property and casualty insurance company focused primarily on residential homeowners insurance. Through its digital platform, the company uses data, automation and analytics to support the quoting, underwriting, policy administration and claims processes.

Slide offers homeowners coverage designed to protect residential properties and personal belongings against covered risks, along with related liability protection and optional coverage features.

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