Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Stock Has Consensus Price Target of $28.33 According to Analysts

by · The Markets Daily

Shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the nine analysts that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $28.33.

Several equities analysts have issued reports on SLDE shares. Wall Street Zen downgraded shares of Slide Insurance from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings raised shares of Slide Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Barclays upped their price target on shares of Slide Insurance from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 28th. Citizens Jmp upped their price target on shares of Slide Insurance from $28.00 to $33.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 28th. Finally, Citigroup reaffirmed a “buy” rating on shares of Slide Insurance in a research note on Wednesday, October 28th.

View Our Latest Stock Report on Slide Insurance

Slide Insurance Trading Up 0.2%

Shares of SLDE stock opened at $27.59 on Friday. Slide Insurance has a 1-year low of $15.11 and a 1-year high of $29.15. The company has a market cap of $3.23 billion, a price-to-earnings ratio of 6.26 and a beta of -0.19. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.27 and a quick ratio of 1.23. The stock has a 50 day simple moving average of $25.18 and a 200-day simple moving average of $20.25.

Slide Insurance (NASDAQ:SLDE – Get Free Report) last released its quarterly earnings results on Tuesday, October 27th. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.44. The firm had revenue of $361.05 million for the quarter, compared to analysts’ expectations of $398.08 million. Slide Insurance had a net margin of 39.28% and a return on equity of 49.36%. On average, equities research analysts expect that Slide Insurance will post 3.99 EPS for the current fiscal year.

Slide Insurance Announces Dividend

The company also recently disclosed a special dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 23rd will be paid a dividend of $1.50 per share. The ex-dividend date is Monday, November 23rd. Slide Insurance’s payout ratio is 6.36%.

Insider Transactions at Slide Insurance

In other news, Director Stephen Rohde sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $26.40, for a total value of $198,000.00. Following the transaction, the director owned 7,500 shares in the company, valued at $198,000. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert Gries, Jr. sold 107,510 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $24.44, for a total value of $2,627,544.40. Following the completion of the transaction, the director owned 1,585,211 shares in the company, valued at approximately $38,742,556.84. This trade represents a 6.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 225,680 shares of company stock worth $5,554,744 over the last three months. 50.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Global Retirement Partners LLC acquired a new stake in shares of Slide Insurance in the second quarter valued at about $39,000. Meeder Asset Management Inc. acquired a new position in Slide Insurance during the second quarter worth about $40,000. State of Wyoming acquired a new position in Slide Insurance during the first quarter worth about $42,000. Public Employees Retirement System of Ohio purchased a new stake in Slide Insurance during the 2nd quarter valued at about $85,000. Finally, Royal Bank of Canada grew its stake in Slide Insurance by 221.0% during the 1st quarter. Royal Bank of Canada now owns 5,993 shares of the company’s stock valued at $109,000 after acquiring an additional 4,126 shares in the last quarter.

Slide Insurance Company Profile

(Get Free Report)

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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