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TAMPA - Slide Insurance Holdings, Inc. (NASDAQ:SLDE), currently trading at $12.92 with a market capitalization of $1.83 billion, announced Wednesday that its Board of Directors has authorized a stock repurchase program of up to $75 million of the company’s common stock, effective immediately with no time limit. According to InvestingPro data, the company maintains strong financials with a healthy current ratio of 1.76 and minimal debt-to-equity of 0.05.
The program allows for share repurchases to be made in the open market at prevailing prices, through privately negotiated transactions, or through other structures in accordance with federal securities laws.
Bruce Lucas, Chairman and Chief Executive Officer of Slide, stated that the repurchase program reflects the company’s "strong confidence in our strategic direction, superior underwriting capabilities and well-capitalized balance sheet." The confidence comes despite the stock’s challenging performance, having declined 36.2% year-to-date. InvestingPro analysis reveals 14 additional investment insights for this stock, including multiple valuation and financial health indicators.
According to the company, the timing and amount of repurchases will be determined by management based on market conditions, liquidity needs, corporate requirements, share price, trading volume and other factors. Repurchases may be conducted under a Rule 10b5-1 plan, which would permit stock repurchases when the company might otherwise be restricted under insider trading laws.
The company noted that its capital position has been strengthened by its recent IPO and "better than expected net margins." The repurchase program does not obligate Slide to purchase any specific number of shares and may be suspended, modified or discontinued at any time.
Slide Insurance Holdings is a technology-enabled insurance company based in Tampa, Florida, that focuses on homeowners insurance. The announcement was made in a press release statement from the company.
In other recent news, Slide Insurance reported second-quarter 2025 operating earnings per share of $0.56, surpassing both JMP Securities’ estimate of $0.45 and the consensus estimate of $0.44. The company’s loss ratio was 37%, better than the anticipated 44%, due to favorable reserve development and reduced catastrophe losses. JMP Securities reiterated its Market Outperform rating with a $25.00 price target, highlighting these strong financial results. Barclays initiated coverage with an Overweight rating and a $25.00 price target, citing a strong return on equity outlook and the company’s scalable technology-driven platform. Keefe, Bruyette & Woods maintained a Market Perform rating with a $20.00 price target, holding a neutral stance. Citizens JMP also initiated coverage with a Market Outperform rating and a $25.00 price target, noting Slide’s strategic position in the Florida insurance market. Meanwhile, Morgan Stanley started coverage with an Equalweight rating and a $19.00 price target, focusing on Slide’s growth potential in various U.S. regions.
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