State of Wyoming purchased a new position in Slide Insurance Holdings, Inc. (NASDAQ:SLDE – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 29,684 shares of the company’s stock, valued at approximately $575,000.
A number of other hedge funds also recently modified their holdings of the business. Comerica Bank grew its position in shares of Slide Insurance by 3,462.2% in the 4th quarter. Comerica Bank now owns 1,318 shares of the company’s stock valued at $26,000 after purchasing an additional 1,281 shares during the period. CWM LLC acquired a new stake in shares of Slide Insurance during the fourth quarter worth $35,000. Ameritas Investment Partners Inc. bought a new stake in Slide Insurance in the 3rd quarter valued at $35,000. Aster Capital Management DIFC Ltd bought a new stake in Slide Insurance in the 4th quarter valued at $47,000. Finally, Caitong International Asset Management Co. Ltd boosted its stake in Slide Insurance by 4,839.2% in the 4th 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.
Slide Insurance Stock Performance
Shares of SLDE stock opened at $21.93 on Monday. Slide Insurance Holdings, Inc. has a 12 month low of $12.53 and a 12 month high of $23.00. The company’s fifty day simple moving average is $19.65 and its 200-day simple moving average is $18.55. The firm has a market cap of $2.56 billion, a PE ratio of 5.35 and a beta of -0.04. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.02.
Slide Insurance declared that its Board of Directors has authorized a share buyback program on Tuesday, April 28th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 4.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
Slide Insurance Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be issued a $0.07 dividend. The ex-dividend date is Friday, August 14th. This represents a $0.28 annualized dividend and a dividend yield of 1.3%. Slide Insurance’s dividend payout ratio (DPR) is presently 6.83%.
Insider Buying and Selling
In related news, Director Robert Gries, Jr. sold 84,636 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $20.34, for a total transaction of $1,721,496.24. Following the completion of the transaction, the director directly owned 1,777,357 shares of the company’s stock, valued at approximately $36,151,441.38. This represents a 4.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andrew Pardo Wright sold 31,002 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $18.01, for a total value of $558,346.02. Following the completion of the transaction, the director owned 48,998 shares of the company’s stock, valued at approximately $882,453.98. This represents a 38.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,301,072 shares of company stock worth $24,304,217 over the last 90 days. 50.80% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
SLDE has been the subject of a number of research reports. Wall Street Zen upgraded Slide Insurance from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Citigroup restated an “outperform” rating on shares of Slide Insurance in a report on Thursday, July 30th. Keefe, Bruyette & Woods upped their price objective on Slide Insurance from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Zacks Research upgraded Slide Insurance from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Slide Insurance in a research report on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Slide Insurance currently has an average rating of “Buy” and a consensus target price of $25.40.
Read Our Latest Stock Report on SLDE
Slide Insurance Company 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.
Read More
- Five stocks we like better than Slide Insurance
- The Metals Company’s Big Bet Now Comes Down to a License
- OneSpaWorld Keeps Turning Cruise Demand Into Record Earnings
- Meta and Tesla Are Rebounding From Oversold Levels—Now What?
- AMG’s Alternatives Boom Powers Record Growth
Receive News & Ratings for Slide Insurance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Slide Insurance and related companies with MarketBeat.com's FREE daily email newsletter.
