Charles William Powell Sells 2,080 Shares of Slide Insurance (NASDAQ:SLDE) Stock

Key Points

• Insider sale: Slide Insurance CRO Charles William Powell sold 2,080 shares at $25 each, generating $52,000 in proceeds.
• Strong financial performance: The company reported quarterly EPS of $1.06, beating estimates by $0.18, on revenue of $386.82 million. It posted a 40.02% net margin and 50.69% return on equity.
• Investor outlook remains positive: Analysts maintain a consensus “Buy” rating with an average price target of $25.40, while institutional investors—including California State Teachers Retirement System—expanded their holdings. Slide also pays a quarterly dividend of $0.07.

Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Get Free Report) CRO Charles William Powell sold 2,080 shares of the firm's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $25.00, for a total transaction of $52,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Slide Insurance Price Performance

Shares of NASDAQ:SLDE traded down $0.21 during trading on Tuesday, reaching $24.46. The company had a trading volume of 1,180,519 shares, compared to its average volume of 1,438,531. The firm's fifty day moving average is $21.58 and its 200 day moving average is $19.27. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.23 and a current ratio of 1.23. The firm has a market capitalization of $2.86 billion, a PE ratio of 5.97 and a beta of 0.07. Slide Insurance Holdings, Inc. has a twelve month low of $12.53 and a twelve month high of $25.09.

Slide Insurance (NASDAQ:SLDE - Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.88 by $0.18. The firm 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%. On average, equities analysts forecast that Slide Insurance Holdings, Inc. will post 3.79 EPS for the current year.

Slide Insurance Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, August 14th. Slide Insurance's payout ratio is currently 6.83%.

Institutional Investors Weigh In On Slide Insurance

A number of institutional investors and hedge funds have recently modified their holdings of SLDE. Allianz Asset Management GmbH purchased a new stake in shares of Slide Insurance during the second quarter valued at $14,530,000. Corient Private Wealth LP increased its stake in Slide Insurance by 12.3% in the 2nd quarter. Corient Private Wealth LP now owns 39,503 shares of the company's stock worth $765,000 after purchasing an additional 4,323 shares in the last quarter. California State Teachers Retirement System increased its stake in Slide Insurance by 2,565.5% in the 2nd quarter. California State Teachers Retirement System now owns 674,851 shares of the company's stock worth $13,072,000 after purchasing an additional 649,533 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Slide Insurance during the 2nd quarter worth about $836,000. Finally, Two Sigma Securities LLC purchased a new stake in Slide Insurance during the second quarter valued at about $432,000.

Analysts Set New Price Targets

A number of research firms recently issued reports on SLDE. Wall Street Zen lowered Slide Insurance from a "buy" rating to a "hold" rating in a report on Saturday, August 29th. 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. Morgan Stanley set a $22.00 price objective on shares of Slide Insurance in a research note on Monday, August 3rd. Citigroup reiterated an "outperform" rating on shares of Slide Insurance in a report on Thursday, July 30th. Finally, Barclays increased their target price on shares of Slide Insurance from $27.00 to $28.00 and gave the company an "overweight" rating in a research note on Wednesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $25.40.

About Slide Insurance

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.

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