Wall Street Zen upgraded shares of Slide Insurance (NASDAQ:SLDE – Free Report) from a hold rating to a buy rating in a report published on Saturday morning,Wall Street Zen reports.
A number of other brokerages have also recently commented on SLDE. Zacks Research raised Slide Insurance from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. Morgan Stanley set a $22.00 price objective on Slide Insurance in a research note on Monday, August 3rd. Citizens Jmp raised their target price on shares of Slide Insurance from $25.00 to $27.00 and gave the stock a “market outperform” rating in a report on Thursday, July 30th. Barclays upped their price target on shares of Slide Insurance from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Finally, Weiss Ratings raised shares of Slide Insurance from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 27th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $25.40.
View Our Latest Analysis on SLDE
Slide Insurance Trading Down 0.2%
Slide Insurance (NASDAQ:SLDE – Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $1.06 earnings per share for the quarter, topping 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 research analysts forecast that Slide Insurance will post 3.79 earnings per share for the current year.
Slide Insurance Dividend Announcement
The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, August 14th. Slide Insurance’s dividend payout ratio is currently 6.83%.
Insiders Place Their Bets
In related news, Director Robert Gries, Jr. sold 61,762 shares of Slide Insurance stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $24.28, for a total value of $1,499,581.36. Following the sale, the director owned 1,523,449 shares in the company, valued at $36,989,341.72. The trade was a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Stephen Rohde sold 7,500 shares of the business’s stock in a transaction 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 transaction, the director directly owned 7,500 shares in the company, valued at approximately $198,000. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 418,992 shares of company stock worth $9,301,056. Insiders own 50.80% of the company’s stock.
Institutional Trading of Slide Insurance
Hedge funds and other institutional investors have recently modified their holdings of the business. Hsbc Holdings PLC grew its holdings in Slide Insurance by 8.4% in the first quarter. Hsbc Holdings PLC now owns 21,251 shares of the company’s stock worth $384,000 after purchasing an additional 1,641 shares during the period. Global Retirement Partners LLC bought a new stake in shares of Slide Insurance in the 2nd quarter worth approximately $39,000. Meeder Asset Management Inc. purchased a new stake in shares of Slide Insurance in the 2nd quarter worth approximately $40,000. California State Teachers Retirement System increased its position in Slide Insurance by 9.5% during the 1st quarter. California State Teachers Retirement System now owns 25,318 shares of the company’s stock valued at $456,000 after buying an additional 2,189 shares in the last quarter. Finally, State of Wyoming bought a new position in Slide Insurance during the 1st quarter valued at approximately $42,000.
Slide Insurance Company Profile
Slide Insurance is a technology-enabled property and casualty insurance company focused on personal residential coverage. Through its insurance operations, the company provides homeowners insurance and related products designed to protect homes and personal property against covered risks, including weather-related events.
Slide uses data-driven underwriting, digital tools and automated claims and policy-management capabilities to support the distribution and servicing of insurance policies.
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