Slide Insurance Holdings Inc. (SLDE) advanced to a 52-week high of $23.01 on Tuesday, extending a 62.1% year-over-year gain as investors reacted to stronger-than-expected second-quarter results.
The insurer’s diluted earnings per share reached $1.06 in the period, exceeding Wall Street’s $0.58 estimate and consensus operating EPS of $0.85. Net income climbed 92.4% year-over-year to $134.9 million, while revenue rose 47.9% to $386.8 million. Gross written premiums totaled $508.0 million, according to the company’s filings.
Citizens Financial Group upgraded its rating on Slide Insurance to Market Outperform from Buy and raised its price target to $27 from $25, citing a valuation framework of 2.3 times forward book value and 7 times estimated 2027 earnings per share. The stock’s market capitalization stood at approximately $2.63 billion, with a six-month return of 33.85%, per InvestingPro data. The company’s financial health score was assessed at 4.12, classified as excellent.
