American Century Companies Inc. Acquires Shares of 2,595,969 Slide Insurance Holdings, Inc. $SLDE

American Century Companies Inc. bought a new stake in shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 2,595,969 shares of the company’s stock, valued at approximately $56,229,000. American Century Companies Inc. owned about 2.08% of Slide Insurance at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in SLDE. Opal Wealth Advisors LLC bought a new stake in shares of Slide Insurance in the second quarter worth $53,000. Instrumental Wealth LLC acquired a new position in Slide Insurance during the 2nd quarter worth $319,000. Stratos Wealth Partners LTD. bought a new stake in shares of Slide Insurance in the 2nd quarter worth about $238,000. FNY Investment Advisers LLC acquired a new stake in shares of Slide Insurance in the 2nd quarter valued at about $26,000. Finally, Envestnet Asset Management Inc. acquired a new stake in shares of Slide Insurance in the 2nd quarter valued at about $1,333,000.

Slide Insurance Stock Down 0.1%

SLDE stock opened at $16.89 on Friday. The stock’s 50 day moving average is $15.76. Slide Insurance Holdings, Inc. has a 52 week low of $12.53 and a 52 week high of $25.90.

Slide Insurance (NASDAQ:SLDE) last issued its earnings results on Wednesday, November 5th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.30. The company had revenue of $265.69 million for the quarter, compared to analyst estimates of $279.36 million.

Slide Insurance announced that its board has authorized a share buyback plan on Wednesday, August 27th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

SLDE has been the subject of several analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Slide Insurance in a report on Wednesday, October 8th. Wall Street Zen upgraded Slide Insurance from a “hold” rating to a “buy” rating in a research report on Saturday, August 16th. Zacks Research upgraded Slide Insurance from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Morgan Stanley raised their price target on Slide Insurance from $18.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, November 17th. Finally, Piper Sandler lifted their price objective on shares of Slide Insurance from $18.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Slide Insurance has an average rating of “Buy” and an average price target of $23.17.

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”).