Assenagon Asset Management S.A. Makes New $3 Million Investment in Slide Insurance Holdings, Inc. $SLDE

Assenagon Asset Management S.A. purchased a new stake in Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 134,613 shares of the company's stock, valued at approximately $3,003,000. Assenagon Asset Management S.A. owned approximately 0.12% of Slide Insurance as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Global Retirement Partners LLC purchased a new position in shares of Slide Insurance in the 2nd quarter worth about $39,000. Meeder Asset Management Inc. purchased a new position in Slide Insurance during the 2nd quarter valued at $40,000. State of Wyoming bought a new stake in Slide Insurance during the 1st quarter valued at approximately $42,000. Caitong International Asset Management Co. Ltd grew its stake in Slide Insurance by 4,839.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,519 shares of the company's stock worth $49,000 after purchasing an additional 2,468 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Slide Insurance in the 2nd quarter worth about $85,000.

Slide Insurance Stock Performance

NASDAQ:SLDE opened at $27.11 on Thursday. The company has a market cap of $3.17 billion, a price-to-earnings ratio of 6.67 and a beta of 0.13. The stock's 50 day simple moving average is $24.23 and its two-hundred day simple moving average is $20.82. 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 Holdings, Inc. has a 1 year low of $14.56 and a 1 year high of $27.65.

Slide Insurance (NASDAQ:SLDE - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.88 by $0.18. The business had revenue of $386.82 million during the quarter. Slide Insurance had a net margin of 40.02% and a return on equity of 50.69%. As a group, equities analysts anticipate that Slide Insurance Holdings, Inc. will post 3.84 earnings per share for the current fiscal year.

Slide Insurance Dividend Announcement

The company 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. This represents a $0.28 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, August 14th. Slide Insurance's dividend payout ratio is presently 6.83%.

Insiders Place Their Bets

In related news, Director Stephen L. Rohde sold 7,500 shares of Slide Insurance stock in a transaction dated 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 owned 7,500 shares in the company, valued at $198,000. This trade represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Charles Powell sold 2,080 shares of Slide Insurance stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $25.00, for a total transaction of $52,000.00. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 245,142 shares of company stock worth $5,849,534. Corporate insiders own 50.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Morgan Stanley set a $22.00 price objective on Slide Insurance in a research report on Monday, August 3rd. Zacks Research downgraded shares of Slide Insurance from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 29th. Keefe, Bruyette & Woods raised their target price on Slide Insurance from $24.00 to $26.00 and gave the stock an "outperform" rating in a research report on Monday, August 3rd. Citizens Jmp boosted their price objective on shares of Slide Insurance from $27.00 to $28.00 and gave the company a "market outperform" rating in a research report on Monday, October 12th. Finally, Wall Street Zen raised Slide Insurance from a "hold" rating to a "buy" rating in a report on Saturday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $25.60.

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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