64,659 Shares in Slide Insurance Holdings, Inc. $SLDE Acquired by Deutsche Bank AG

Key Points

• Deutsche Bank acquired 64,659 shares of Slide Insurance during the second quarter, valued at approximately $1.25 million and representing about 0.06% of the company. Other institutions, including Vanguard and Arrowstreet Capital, also increased their positions.
• Slide Insurance reported quarterly EPS of $1.06, beating estimates of $0.88, on revenue of $386.82 million. The company also declared a quarterly dividend of $0.07, equivalent to a 1.2% annualized yield.
• Analysts maintain a generally bullish view, with a consensus “Buy” rating and an average price target of $25.40. Meanwhile, insiders sold 494,191 shares worth approximately $9.1 million over the last quarter.

Deutsche Bank AG acquired a new stake in shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 64,659 shares of the company's stock, valued at approximately $1,252,000. Deutsche Bank AG owned approximately 0.06% of Slide Insurance as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings 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 valued at $53,800,000 after purchasing an additional 354,321 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Slide Insurance by 298.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,687,802 shares of the company's stock worth $48,380,000 after buying an additional 2,012,428 shares during the last quarter. Balyasny Asset Management L.P. increased its position 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. Raymond James Financial Inc. bought a new position in Slide Insurance during the second quarter valued at about $33,063,000. Finally, Freestone Grove Partners LP raised its holdings in Slide Insurance by 50.3% during the fourth quarter. Freestone Grove Partners LP now owns 986,543 shares of the company's stock valued at $19,218,000 after buying an additional 330,165 shares in the last quarter.

Insider Activity at Slide Insurance

In other news, COO Shannon Lucas sold 19,058 shares of the company's stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $17.03, for a total transaction of $324,557.74. Following the completion of the transaction, the chief operating officer directly owned 1,123,415 shares in the company, valued at $19,131,757.45. The trade was a 1.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Bruce Lucas sold 192,695 shares of the stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $17.03, for a total value of $3,281,595.85. Following the completion of the sale, the chief executive officer directly owned 34,550,666 shares of the company's stock, valued at $588,397,841.98. This represents a 0.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 494,191 shares of company stock valued at $9,065,901. 50.80% of the stock is owned by corporate insiders.

Slide Insurance Stock Up 0.1%

SLDE stock opened at $23.48 on Friday. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 5.73 and a beta of -0.04. The company has a 50-day moving average of $20.87 and a two-hundred day moving average of $18.96. Slide Insurance Holdings, Inc. has a 52-week low of $12.53 and a 52-week high of $23.75. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.23 and a quick ratio of 1.23.

Slide Insurance (NASDAQ:SLDE - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $1.06 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter. As a group, equities research analysts anticipate that Slide Insurance Holdings, Inc. will post 3.79 EPS for the current year.

Slide Insurance Announces Dividend

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

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Citizens Jmp upped their price target on Slide Insurance from $25.00 to $27.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 30th. Keefe, Bruyette & Woods raised their price objective 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 Slide Insurance in a report on Monday, August 3rd. Barclays upped their target price on Slide Insurance from $27.00 to $28.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. Finally, Citigroup reissued an "outperform" rating on shares of Slide Insurance in a research report 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 issued a Hold rating to the stock. According to MarketBeat, Slide Insurance presently has a consensus rating of "Buy" and an average target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source