Slide Insurance (NASDAQ:SLDE) Downgraded by Zacks Research to Hold

by · The Markets Daily

Zacks Research cut shares of Slide Insurance (NASDAQ:SLDE – Free Report) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday,Zacks reports.

A number of other research analysts have also issued reports on SLDE. Weiss Ratings upgraded shares of Slide Insurance from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 27th. Citigroup restated an “outperform” rating on shares of Slide Insurance in a research report on Thursday, July 30th. Morgan Stanley set a $22.00 price objective on shares of Slide Insurance in a research note on Monday, August 3rd. Keefe, Bruyette & Woods boosted their target price on shares of Slide Insurance from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Finally, Wall Street Zen raised shares of Slide Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, September 19th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Slide Insurance has an average rating of “Moderate Buy” and a consensus target price of $25.40.

Read Our Latest Report on Slide Insurance

Slide Insurance Stock Performance

SLDE opened at $22.31 on Tuesday. The business has a 50 day moving average price of $22.81 and a two-hundred day moving average price of $20.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.23 and a quick ratio of 1.23. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 5.44 and a beta of 0.07. Slide Insurance has a 1-year low of $14.20 and a 1-year high of $26.75.

Slide Insurance (NASDAQ:SLDE – Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.18. The company 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%. Research analysts predict that Slide Insurance will post 3.79 EPS for the current fiscal year.

Slide Insurance Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Friday, August 14th. Slide Insurance’s dividend payout ratio (DPR) is presently 6.83%.

Insider Transactions at Slide Insurance

In other news, Director Stephen Rohde sold 7,500 shares of the business’s stock in a transaction that occurred 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 sale, the director owned 7,500 shares in the company, valued at $198,000. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Matthew Larson sold 11,374 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $24.62, for a total transaction of $280,027.88. Following the completion of the sale, the insider owned 11,374 shares of the company’s stock, valued at approximately $280,027.88. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 357,990 shares of company stock valued at $8,164,610 over the last ninety days. Corporate insiders own 50.80% of the company’s stock.

Institutional Trading of Slide Insurance

A number of hedge funds have recently modified their holdings of the business. Hsbc Holdings PLC boosted its position in shares of 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 buying an additional 1,641 shares during the period. Global Retirement Partners LLC acquired a new position in Slide Insurance during the second quarter valued at $39,000. Meeder Asset Management Inc. purchased a new stake in Slide Insurance in the 2nd quarter worth about $40,000. California State Teachers Retirement System boosted 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 worth $456,000 after acquiring an additional 2,189 shares during the period. Finally, State of Wyoming acquired a new stake in Slide Insurance during the 1st quarter worth about $42,000.

Slide Insurance Company Profile

(Get Free Report)

Slide Insurance is a technology-enabled property and casualty insurance company focused primarily on homeowners insurance. The company uses data, analytics and digital tools to provide coverage, manage policies and support claims for residential property owners.

Its products are designed for homeowners and may include coverage for the dwelling, personal property, liability and related risks, subject to the terms of each policy. Slide operates in catastrophe-exposed property insurance markets, where technology and risk-management capabilities are important to underwriting and claims administration.

Slide was founded by Bruce Lucas, an insurance industry executive who previously led Heritage Insurance Holdings.

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