Slide Insurance (SLDE)
Market Price (8/8/2026): $21.13 | Market Cap: $2.4 BilSector: Financials | Industry: Property & Casualty Insurance
Slide Insurance (SLDE)
Market Price (8/8/2026): $21.13Market Cap: $2.4 BilSector: FinancialsIndustry: Property & Casualty Insurance
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 23%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 18%, FCF Yield is 42% Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -51% Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 41% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 75%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 74% Low stock price volatilityVol 12M is 48% Megatrend and thematic driversMegatrends include AI in Financial Services, Fintech & Digital Payments, and Smart Buildings & Proptech. Themes include AI for Fraud Detection, Show more. | Trading close to highsDist 52W High is -4.6% Weak multi-year price returns2Y Excs Rtn is -41%, 3Y Excs Rtn is -68% | Key risksSLDE key risks include [1] its geographic concentration in catastrophe-prone Florida, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 23%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 18%, FCF Yield is 42% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -51% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 41% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 75%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 74% |
| Low stock price volatilityVol 12M is 48% |
| Megatrend and thematic driversMegatrends include AI in Financial Services, Fintech & Digital Payments, and Smart Buildings & Proptech. Themes include AI for Fraud Detection, Show more. |
| Trading close to highsDist 52W High is -4.6% |
| Weak multi-year price returns2Y Excs Rtn is -41%, 3Y Excs Rtn is -68% |
| Key risksSLDE key risks include [1] its geographic concentration in catastrophe-prone Florida, Show more. |
Qualitative Assessment
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Slide Insurance (SLDE) stock has gained about 15% since 4/30/2026 because of the following key factors:
1. Slide Insurance reported strong financial performance in its fiscal Q2 2026, ending June 30, 2026, significantly beating analyst expectations. The company's diluted earnings per share (EPS) of $1.06 surpassed consensus estimates of $0.88 by 21.81% to 23.9%. Total revenue grew 47.9% year-over-year to $386.8 million, while net income surged 92.4% year-over-year to $134.9 million. Additionally, the combined ratio improved to 57.6% from 67.4% in the prior year, indicating enhanced profitability and underwriting discipline.
2. The company initiated a quarterly dividend and continued its share repurchase program, demonstrating a commitment to shareholder returns. On July 27, 2026, Slide Insurance declared its first quarterly dividend of $0.07 per share, payable on August 28, 2026. This move signaled confidence in its cash flow generation. Furthermore, the company continued its $100 million stock repurchase program authorized in April 2026, repurchasing 2,997,980 shares at an average price of $17.95 per share during fiscal Q2 2026.
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Slide Insurance (SLDE) stock has gained about 15% since 4/30/2026 because of the following key factors:
1. Slide Insurance reported strong financial performance in its fiscal Q2 2026, ending June 30, 2026, significantly beating analyst expectations. The company's diluted earnings per share (EPS) of $1.06 surpassed consensus estimates of $0.88 by 21.81% to 23.9%. Total revenue grew 47.9% year-over-year to $386.8 million, while net income surged 92.4% year-over-year to $134.9 million. Additionally, the combined ratio improved to 57.6% from 67.4% in the prior year, indicating enhanced profitability and underwriting discipline.
2. The company initiated a quarterly dividend and continued its share repurchase program, demonstrating a commitment to shareholder returns. On July 27, 2026, Slide Insurance declared its first quarterly dividend of $0.07 per share, payable on August 28, 2026. This move signaled confidence in its cash flow generation. Furthermore, the company continued its $100 million stock repurchase program authorized in April 2026, repurchasing 2,997,980 shares at an average price of $17.95 per share during fiscal Q2 2026.
3. Analyst sentiment turned increasingly positive, leading to multiple price target upgrades. In July 2026, several research analysts raised their price targets for Slide Insurance. For example, Barclays increased its target price from $27.00 to $28.00, Citizens Jmp upped its target from $25.00 to $27.00, and Keefe, Bruyette & Woods raised its objective from $24.00 to $26.00. The average analyst price target subsequently rose to $25.67, implying approximately 27% potential upside from the July 30, 2026, closing price, with a maintained "Moderate Buy" or "Buy" consensus rating.
4. Slide Insurance pursued strategic expansion into new geographic markets. In fiscal Q2 2026, the company expanded its homeowners coverage to California and has plans for entry into the New York market in fiscal Q3 2026. This diversification strategy aims to reduce geographic concentration risk and tap into new revenue streams beyond its primary Florida market.
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Stock Movement Drivers
Fundamental Drivers
The 13.3% change in SLDE stock from 4/30/2026 to 8/7/2026 was primarily driven by a 9.9% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 4302026 | 8072026 | Change |
|---|---|---|---|
| Stock Price ($) | 18.65 | 21.13 | 13.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,264 | 1,389 | 9.9% |
| Net Income Margin (%) | 38.9% | 40.0% | 3.0% |
| P/E Multiple | 4.7 | 4.4 | -6.3% |
| Shares Outstanding (Mil) | 123 | 115 | 6.9% |
| Cumulative Contribution | 13.3% |
Market Drivers
4/30/2026 to 8/7/2026| Return | Correlation | |
|---|---|---|
| SLDE | 13.3% | |
| Market (SPY) | 7.6% | -28.9% |
| Sector (XLF) | 10.5% | 26.4% |
Fundamental Drivers
The 22.6% change in SLDE stock from 1/31/2026 to 8/7/2026 was primarily driven by a 32.6% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 1312026 | 8072026 | Change |
|---|---|---|---|
| Stock Price ($) | 17.23 | 21.13 | 22.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,047 | 1,389 | 32.6% |
| Net Income Margin (%) | 33.3% | 40.0% | 20.2% |
| P/E Multiple | 6.2 | 4.4 | -29.1% |
| Shares Outstanding (Mil) | 125 | 115 | 8.5% |
| Cumulative Contribution | 22.6% |
Market Drivers
1/31/2026 to 8/7/2026| Return | Correlation | |
|---|---|---|
| SLDE | 22.6% | |
| Market (SPY) | 12.1% | 2.1% |
| Sector (XLF) | 8.3% | 35.8% |
Fundamental Drivers
The 12.4% change in SLDE stock from 7/31/2025 to 8/7/2026 was primarily driven by a 0.0% change in the company's P/E Multiple.| (LTM values as of) | 7312025 | 8072026 | Change |
|---|---|---|---|
| Stock Price ($) | 18.80 | 21.13 | 12.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | � | 1,389 | 0.0% |
| Net Income Margin (%) | � | 40.0% | 0.0% |
| P/E Multiple | � | 4.4 | 0.0% |
| Shares Outstanding (Mil) | 125 | 115 | 8.3% |
| Cumulative Contribution | 0.0% |
Market Drivers
7/31/2025 to 8/7/2026| Return | Correlation | |
|---|---|---|
| SLDE | 12.4% | |
| Market (SPY) | 23.4% | 6.3% |
| Sector (XLF) | 11.3% | 23.8% |
Fundamental Drivers
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Market Drivers
7/31/2023 to 8/7/2026| Return | Correlation | |
|---|---|---|
| SLDE | ||
| Market (SPY) | 74.9% | 5.1% |
| Sector (XLF) | 70.4% | 23.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| SLDE Return | - | - | - | - | -4% | 9% | 5% |
| Peers Return | -15% | -28% | 63% | 82% | 45% | 20% | 218% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 105% |
Monthly Win Rates [3] | |||||||
| SLDE Win Rate | - | - | - | - | 71% | 62% | |
| Peers Win Rate | 37% | 47% | 63% | 62% | 65% | 57% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| SLDE Max Drawdown | - | - | - | - | - | -19% | |
| Peers Max Drawdown | -28% | -50% | -38% | -26% | -25% | -18% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: HRTG, UVE, HIPO, PGR, ALL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/7/2026 (YTD)
How Low Can It Go
SLDE has limited trading history. Below is the Financials sector ETF (XLF) in its place.
| Event | XLF | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -15.5% | -18.8% |
| % Gain to Breakeven | 18.4% | 23.1% |
| Time to Breakeven | 80 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -10.7% | -9.5% |
| % Gain to Breakeven | 12.0% | 10.5% |
| Time to Breakeven | 26 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -16.1% | -6.7% |
| % Gain to Breakeven | 19.1% | 7.1% |
| Time to Breakeven | 270 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -22.3% | -24.5% |
| % Gain to Breakeven | 28.6% | 32.4% |
| Time to Breakeven | 467 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -42.8% | -33.7% |
| % Gain to Breakeven | 74.8% | 50.9% |
| Time to Breakeven | 289 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -19.7% | -19.2% |
| % Gain to Breakeven | 24.5% | 23.8% |
| Time to Breakeven | 123 days | 105 days |
In The Past
State Street Financial Select Sector SPDR ETF's stock fell -15.5% during the 2025 US Tariff Shock. Such a loss loss requires a 18.4% gain to breakeven.
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SLDE has limited trading history. Below is the Financials sector ETF (XLF) in its place.
| Event | XLF | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -22.3% | -24.5% |
| % Gain to Breakeven | 28.6% | 32.4% |
| Time to Breakeven | 467 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -42.8% | -33.7% |
| % Gain to Breakeven | 74.8% | 50.9% |
| Time to Breakeven | 289 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -21.4% | -12.2% |
| % Gain to Breakeven | 27.3% | 13.9% |
| Time to Breakeven | 272 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -26.1% | -17.9% |
| % Gain to Breakeven | 35.3% | 21.8% |
| Time to Breakeven | 162 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -78.3% | -53.4% |
| % Gain to Breakeven | 359.8% | 114.4% |
| Time to Breakeven | 2329 days | 1085 days |
In The Past
State Street Financial Select Sector SPDR ETF's stock fell -15.5% during the 2025 US Tariff Shock. Such a loss loss requires a 18.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Slide Insurance (SLDE)
Slide Insurance (SLDE) is a technology-enabled, fast-growing coastal specialty insurer that began operations in 2021. The company specializes in the profitable underwriting of single-family and condominium property and casualty (P&C) policies. Slide primarily serves coastal states along the Atlantic seaboard, capitalizing on market opportunities created by national carriers reducing their underwriting capacity in these regions, which has led to high demand and limited insurance supply, particularly in states like Florida.
The company differentiates itself with a proprietary, data-driven technology platform that facilitates real-time risk assessment, management, and pricing. This advanced technology, supported by a $6 trillion total insured value underwriting and claims dataset, allows Slide to accurately estimate future costs and strategically select policies that are expected to be profitable, often identifying opportunities that competitors may overlook or misprice. Slide maintains full control over its value chain, including technology, underwriting, actuarial, distribution, claims, and risk management, which enables disciplined underwriting standards and optimized profitability.
Slide acquires policies through a dual-channel distribution strategy, combining inorganic block acquisitions with new business sales conducted via independent agents and a direct-to-consumer (DTC) channel. The company has demonstrated robust growth and strong financial performance, expanding shareholders’ equity from $102 million at the end of 2021 to $433 million by the end of 2024. During this period, in-force premium grew to $1,334 million, accompanied by an average consolidated combined ratio of 80.3%, highlighting its profitable scaling in targeted markets.
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- The Tesla of coastal property insurance.
- Think of it as a highly specialized, data-driven Progressive, but focused exclusively on profitably underwriting homes in coastal areas.
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- Single-Family Homeowners Insurance: Provides property and casualty coverage for single-family homes located in coastal regions.
- Condominium Homeowners Insurance: Offers property and casualty coverage for condominium units situated in coastal regions.
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Slide Insurance (SLDE) sells primarily to individuals.
The company serves the following categories of customers:
- Owners of single-family homes located in coastal states along the Atlantic seaboard.
- Owners of condominiums located in coastal states along the Atlantic seaboard.
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Bruce Lucas, Founder & Chief Executive Officer
Bruce Lucas is the Founder and CEO of Slide, driving the company's vision and innovation. He co-founded Slide Insurance in 2021. Before establishing Slide, Mr. Lucas founded Heritage Insurance (NYSE: HRTG), where he served as CEO, Chief Information Officer, and Chairman of the board of directors from 2012 to 2020. He grew Heritage from a single-state startup to over $1 billion in annual revenue across 15 states, maintaining profitability throughout his 9-year tenure. Mr. Lucas has been recognized as an EY Entrepreneur of the Year and has been on the Tampa Bay Business Journal's Power 100 list in 2024 and 2025. He holds a Doctor of Law from Indiana University Maurer School of Law.
Andy Omiridis, Chief Financial Officer
Andy Omiridis was appointed Chief Financial Officer of Slide, effective December 1, 2025. He brings over 30 years of financial leadership experience, with deep expertise in complex operations and public markets. Prior to joining Slide, Mr. Omiridis served as Executive Vice President and CFO of Amerisafe, Inc. since September 2022. His previous roles include Senior Vice President, Deputy Chief Financial Officer, and Principal Accounting Officer of Kemper Corporation from September 2019 to August 2022. He also served as Senior Vice President and CFO with Chubb Life from 2017 to 2019 and as Chief Accounting Officer for ARGO Limited from 2013 to 2017, in addition to multiple leadership positions with American Life Insurance Company prior to 2013.
Shannon Lucas, President & Chief Operating Officer
Shannon Lucas is a co-founder of Slide and serves as its President and Chief Operating Officer, leading the company's operations and enterprise risk management. She has over 20 years of experience in property and casualty insurance with notable companies such as Tower Hill, Heritage, UPC, and HomeWise. Previously, she held the role of Chief Risk Officer at Slide since the company's founding in April 2021 and served as CEO of Securus Risk Management, LLC, from 2016 to 2020.
Gauthaman Krishnamurthy, Chief Information Officer
Gauthaman Krishnamurthy leads Slide's technology strategy and delivery as Chief Information Officer. He possesses over 20 years of technology leadership experience in the insurance industry, covering personal, commercial, and specialty lines, with extensive experience across the entire insurance value chain. Before joining Slide, Mr. Krishnamurthy was the Chief Applications Officer at PURE Insurance, where he led technology transformations and championed digital innovation, automation, and AI adoption.
John Devoe, Chief Claims Officer
John Devoe leads Slide's claims and customer experience operations. He brings over 30 years of insurance claims experience and holds 33 adjuster licenses, an Associate in Claims (AIC) designation, and FEMA-NFIP certification. Prior to Slide, Mr. Devoe was the President and COO of RYZE Claim Solutions.
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Exposure to Catastrophic Weather Events and Escalating Reinsurance Costs
As a coastal specialty insurer, Slide Insurance is inherently exposed to significant risks from catastrophic weather events such as hurricanes and storms. The company's profitability is directly tied to its ability to accurately assess and price for "future reinsurance and all other perils (“AOP”) costs" associated with these events. The increasing frequency and severity of natural disasters in coastal regions could lead to higher claims, making it challenging to maintain profitable underwriting and secure adequate reinsurance at favorable rates, even with their technology-driven approach.
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Reliance on Proprietary Underwriting Technology and Data Accuracy
Slide Insurance's core competitive advantage is predicated on its "significant technological advantage" and "proprietary $6 trillion total insured value (“TIV”) underwriting and claims dataset". This technology is crucial for assessing, managing, and pricing risk, allowing them to identify profitable policies often overlooked by competitors. Any failure, inaccuracy, or obsolescence of this proprietary technology or dataset, or a successful development of comparable technology by competitors, could severely undermine their ability to accurately predict prospective loss ratios and reinsurance costs, thereby impacting their underwriting discipline and profitability.
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Dependence on Niche Market Conditions and Competitive Pressures
The company's growth strategy capitalizes on "market opportunities that are underserved by other insurance companies" due to larger national carriers reducing their underwriting capacity in coastal states. Slide's business model is thus partly dependent on the continuation of this market dynamic. Should larger carriers re-enter these markets, increase their capacity, or new well-capitalized competitors emerge, the intensified competition could lead to reduced market share, pressure on pricing, and diminished profitability for Slide Insurance.
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Expected Drivers of Future Revenue Growth for Slide Insurance (SLDE)
Over the next 2-3 years, Slide Insurance (SLDE) is expected to drive revenue growth through several key initiatives:
- Capitalizing on Underserved Coastal Specialty Markets: Slide Insurance plans to continue expanding its presence in coastal states along the Atlantic seaboard, particularly in markets where larger national carriers have reduced their underwriting capacity. The company aims to leverage the imbalance of supply and demand in these underserved markets, such as Florida, to acquire more policies and increase premiums.
- Growth of Direct-to-Consumer (DTC) Distribution Channel: The company anticipates significant growth in its direct-to-consumer channel. By selling insurance products directly to end consumers, Slide Insurance can expand its reach and acquire new business without relying on intermediaries.
- Profitable Policy Acquisition via Proprietary Technology and Data-Driven Underwriting: Slide Insurance's advanced underwriting technology and data-driven approach enable it to accurately assess and price risk, allowing it to focus on profitable growth opportunities that competitors may overlook or misprice. This technological advantage supports the acquisition of individual and bulk policies, contributing to revenue expansion.
- Inorganic Block Acquisitions and Independent Agent Sales: The company will continue to grow its policy base through strategic inorganic block acquisitions and new business sales generated via its network of independent agents. These channels are crucial for scaling operations and increasing in-force premiums.
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Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 38.45 |
| Mkt Cap | 1.8 |
| Rev LTM | 1,509 |
| Op Inc LTM | - |
| FCF LTM | 687 |
| FCF 3Y Avg | 488 |
| CFO LTM | 691 |
| CFO 3Y Avg | 494 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 8.1% |
| Rev Chg 3Y Avg | 8.8% |
| Rev Chg Q | 9.1% |
| QoQ Delta Rev Chg LTM | 2.2% |
| Op Inc Chg LTM | - |
| Op Inc Chg 3Y Avg | - |
| Op Mgn LTM | - |
| Op Mgn 3Y Avg | - |
| QoQ Delta Op Mgn LTM | - |
| CFO/Rev LTM | 19.6% |
| CFO/Rev 3Y Avg | 16.5% |
| FCF/Rev LTM | 19.3% |
| FCF/Rev 3Y Avg | 15.7% |
Price Behavior
| Market Price | $21.13 | |
| Market Cap ($ Bil) | 2.4 | |
| First Trading Date | 06/18/2025 | |
| Distance from 52W High | -4.6% | |
| 50 Days | 200 Days | |
| DMA Price | $18.84 | $19.08 |
| DMA Trend | up | up |
| Distance from DMA | 12.2% | 10.8% |
| 3M | 1YR | |
| Volatility | 44.4% | 48.1% |
| Downside Capture | -184.52 | -12.55 |
| Upside Capture | -86.97 | 13.28 |
| Correlation (SPY) | -30.2% | 5.4% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -2.10 | -1.29 | -1.06 | 0.02 | 0.23 | 0.18 |
| Up Beta | -5.76 | -1.05 | -0.66 | 0.03 | 0.44 | 0.62 |
| Down Beta | 0.19 | -0.48 | -0.63 | 0.13 | 0.32 | 0.14 |
| Up Capture | -143% | -116% | -82% | 15% | 9% | 1% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 11 | 20 | 31 | 66 | 120 | 130 |
| Down Capture | -224% | -242% | -206% | -28% | 15% | 12% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 11 | 23 | 32 | 58 | 128 | 144 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SLDE | |
|---|---|---|---|---|
| SLDE | 14.3% | 48.5% | 0.43 | - |
| Sector ETF (XLF) | 12.3% | 14.6% | 0.57 | 23.2% |
| Equity (SPY) | 23.3% | 12.8% | 1.36 | 5.2% |
| Gold (GLD) | 28.5% | 28.4% | 0.87 | -6.9% |
| Commodities (DBC) | 32.9% | 19.8% | 1.32 | -13.8% |
| Real Estate (VNQ) | 14.2% | 13.8% | 0.72 | 18.9% |
| Bitcoin (BTCUSD) | -44.2% | 42.9% | -1.23 | 10.1% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SLDE | |
|---|---|---|---|---|
| SLDE | 1.9% | 49.5% | 0.33 | - |
| Sector ETF (XLF) | 11.4% | 18.4% | 0.48 | 22.8% |
| Equity (SPY) | 13.5% | 17.2% | 0.61 | 4.5% |
| Gold (GLD) | 18.6% | 18.6% | 0.81 | -6.2% |
| Commodities (DBC) | 8.2% | 19.6% | 0.31 | -10.1% |
| Real Estate (VNQ) | 2.3% | 18.9% | 0.02 | 17.5% |
| Bitcoin (BTCUSD) | 8.8% | 53.0% | 0.35 | 8.6% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SLDE | |
|---|---|---|---|---|
| SLDE | 1.0% | 49.5% | 0.33 | - |
| Sector ETF (XLF) | 13.6% | 22.1% | 0.56 | 22.8% |
| Equity (SPY) | 15.4% | 17.9% | 0.73 | 4.5% |
| Gold (GLD) | 12.1% | 16.2% | 0.61 | -6.2% |
| Commodities (DBC) | 7.4% | 18.0% | 0.33 | -10.1% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.20 | 17.5% |
| Bitcoin (BTCUSD) | 58.2% | 66.2% | 0.98 | 8.6% |
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Earnings Returns History
Updated 8/6/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/28/2026 | 3.5% | -3.5% | |
| 4/28/2026 | -2.4% | -1.4% | -3.1% |
| 2/24/2026 | 9.7% | 8.9% | 0.0% |
| 11/6/2025 | -0.1% | -0.2% | 9.0% |
| 8/12/2025 | -9.1% | -16.3% | -18.8% |
| SUMMARY STATS | |||
| # Positive | 2 | 1 | 2 |
| # Negative | 3 | 4 | 2 |
| Median Positive | 6.6% | 8.9% | 4.5% |
| Median Negative | -2.4% | -2.4% | -11.0% |
| Max Positive | 9.7% | 8.9% | 9.0% |
| Max Negative | -9.1% | -16.3% | -18.8% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/28/2026 | 3.5% | -3.5% | |
| 4/28/2026 | -2.4% | -1.4% | -3.1% |
| 2/24/2026 | 9.7% | 8.9% | 0.0% |
| 11/6/2025 | -0.1% | -0.2% | 9.0% |
| 8/12/2025 | -9.1% | -16.3% | -18.8% |
| SUMMARY STATS | |||
| # Positive | 2 | 1 | 2 |
| # Negative | 3 | 4 | 2 |
| Median Positive | 6.6% | 8.9% | 4.5% |
| Median Negative | -2.4% | -2.4% | -11.0% |
| Max Positive | 9.7% | 8.9% | 9.0% |
| Max Negative | -9.1% | -16.3% | -18.8% |
Recent Forward Guidance
Updated 7/30/2026Latest: Q2 2026 Earnings Reported 7/28/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Gross Written Premiums | 1.85 Bil | 1.90 Bil | 1.95 Bil | 0 | Affirmed | Guidance: 1.90 Bil for 2026 | |
| 2026 Net Income | 455.00 Mil | 462.50 Mil | 470.00 Mil | 0 | Affirmed | Guidance: 462.50 Mil for 2026 | |
Insider Activity
Updated 8/4/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Rohde, Stephen L | Direct | Sell | 8042026 | 20.00 | 5,000 | Form | |||
| 2 | Gries, Robert JR | GRM Family Limited Partnership | Sell | 7082026 | 21.04 | 28,212 | 593,580 | 36,802,011 | Form | |
| 3 | Gries, Robert JR | GRM Family Limited Partnership | Sell | 7082026 | 20.34 | 84,636 | 1,721,496 | 36,151,441 | Form | |
| 4 | Wright, Andrew Pardo | MAOV Slide, LLC | Sell | 7012026 | 19.51 | 15,000 | 292,650 | 370,651 | Form | |
| 5 | Wright, Andrew Pardo | MAOV Slide, LLC | Sell | 6262026 | 19.03 | 15,000 | 285,450 | 646,982 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Rohde, Stephen L | Direct | Sell | 8042026 | 20.00 | 5,000 | Form | |||
| 2 | Gries, Robert JR | GRM Family Limited Partnership | Sell | 7082026 | 21.04 | 28,212 | 593,580 | 36,802,011 | Form | |
| 3 | Gries, Robert JR | GRM Family Limited Partnership | Sell | 7082026 | 20.34 | 84,636 | 1,721,496 | 36,151,441 | Form | |
| 4 | Wright, Andrew Pardo | MAOV Slide, LLC | Sell | 7012026 | 19.51 | 15,000 | 292,650 | 370,651 | Form | |
| 5 | Wright, Andrew Pardo | MAOV Slide, LLC | Sell | 6262026 | 19.03 | 15,000 | 285,450 | 646,982 | Form | |
| 6 | Wright, Andrew Pardo | MAOV Slide, LLC | Sell | 6262026 | 18.01 | 31,002 | 558,346 | 882,454 | Form | |
| 7 | Lucas, Bruce | Chief Executive Officer | IIM Holdings II, LLC | Sell | 6122026 | 17.12 | 44,467 | 761,275 | 590,746,127 | Form |
| 8 | Lucas, Shannon | President & COO | Securus Risk Management, LLC | Sell | 6122026 | 17.12 | 4,659 | 79,762 | 19,153,103 | Form |
| 9 | Larson, Matthew Paul | Chief Risk Officer | Direct | Sell | 6122026 | 17.07 | 13,750 | Form | ||
| 10 | Lucas, Bruce | Chief Executive Officer | IIM Holdings II, LLC | Sell | 6122026 | 17.03 | 192,695 | 3,281,596 | 588,397,842 | Form |
| 11 | Lucas, Shannon | President & COO | Securus Risk Management, LLC | Sell | 6122026 | 17.03 | 19,058 | 324,558 | 19,131,757 | Form |
| 12 | Larson, Matthew Paul | Chief Risk Officer | Direct | Sell | 6022026 | 17.79 | 2,500 | Form | ||
| 13 | Lucas, Bruce | Chief Executive Officer | IIM Holdings II, LLC | Sell | 6012026 | 18.95 | 227,987 | 4,320,354 | 658,386,691 | Form |
| 14 | Lucas, Shannon | President & COO | Securus Risk Management, LLC | Sell | 6012026 | 18.95 | 22,548 | 427,285 | 21,649,863 | Form |
| 15 | Bruce, Beth Witte | Beth W. Bruce Witte Family 1992 Trust | Sell | 5272026 | 19.01 | 23,500 | 446,735 | 3,415,051 | Form | |
| 16 | Larson, Matthew Paul | Chief Risk Officer | Direct | Sell | 5272026 | 18.56 | 11,250 | Form | ||
| 17 | Bruce, Beth Witte | Beth W. Bruce Witte Family 1992 Trust | Sell | 5272026 | 18.70 | 21,063 | 393,878 | 3,798,812 | Form | |
| 18 | Bruce, Beth Witte | Beth W. Bruce Witte Family 1992 Trust | Sell | 5272026 | 18.70 | 2,437 | 45,572 | 4,192,690 | Form | |
| 19 | Lucas, Shannon | President & COO | Securus Risk Management, LLC | Sell | 5222026 | 18.78 | 18,279 | 343,280 | 21,879,094 | Form |
| 20 | Lucas, Bruce | Chief Executive Officer | IIM Holdings II, LLC | Sell | 5222026 | 18.78 | 184,817 | 3,470,863 | 656,761,915 | Form |
| 21 | Lucas, Shannon | President & COO | Securus Risk Management, LLC | Sell | 5192026 | 18.97 | 27,000 | 512,190 | 22,447,201 | Form |
| 22 | Lucas, Bruce | Chief Executive Officer | IIM Holdings II, LLC | Sell | 5192026 | 18.97 | 273,000 | 5,178,810 | 666,912,450 | Form |
| 23 | Larson, Matthew Paul | Chief Risk Officer | Direct | Sell | 5192026 | 19.01 | 16,250 | Form | ||
| 24 | Wright, Andrew Pardo | MAOV Slide, LLC | Sell | 5192026 | 19.00 | 10,086 | 191,634 | 1,520,000 | Form | |
| 25 | Lucas, Shannon | President & COO | Securus Risk Management, LLC | Sell | 5192026 | 19.06 | 45,000 | 857,700 | 23,068,318 | Form |
| 26 | Lucas, Bruce | Chief Executive Officer | IIM Holdings II, LLC | Sell | 5192026 | 19.06 | 455,000 | 8,672,300 | 675,279,885 | Form |
| 27 | Wright, Andrew Pardo | MAOV Slide, LLC | Sell | 5192026 | 18.75 | 10,000 | 187,500 | 1,689,112 | Form | |
| 28 | Lucas, Shannon | President & COO | Securus Risk Management, LLC | Sell | 5192026 | 18.84 | 26,692 | 502,877 | 23,649,852 | Form |
| 29 | Lucas, Bruce | Chief Executive Officer | IIM Holdings II, LLC | Sell | 5192026 | 18.84 | 269,881 | 5,084,558 | 676,057,669 | Form |
| 30 | Rohde, Stephen L | Direct | Sell | 5132026 | 19.00 | 5,000 | Form | |||
| 31 | Larson, Matthew Paul | Chief Risk Officer | Direct | Sell | 5132026 | 18.67 | 11,250 | Form | ||
| 32 | Lucas, Shannon | President & COO | Securus Risk Management, LLC | Sell | 5112026 | 18.76 | 9,000 | 168,840 | 24,050,170 | Form |
| 33 | Lucas, Bruce | Chief Executive Officer | IIM Holdings II, LLC | Sell | 5112026 | 18.76 | 91,000 | 1,707,160 | 678,249,903 | Form |
| 34 | Wright, Andrew Pardo | MAOV Slide, LLC | Sell | 5112026 | 18.90 | 6,316 | 119,372 | 1,891,625 | Form | |
| 35 | Lucas, Shannon | President & COO | Securus Risk Management, LLC | Sell | 5112026 | 18.81 | 17,141 | 322,422 | 24,283,560 | Form |
| 36 | Lucas, Bruce | Chief Executive Officer | IIM Holdings II, LLC | Sell | 5112026 | 18.81 | 173,317 | 3,260,093 | 681,769,315 | Form |
| 37 | Larson, Matthew Paul | Chief Risk Officer | Direct | Sell | 5062026 | 18.57 | 5,000 | Form | ||
| 38 | Omiridis, Anastasios | Chief Financial Officer | Direct | Sell | 5042026 | 18.55 | 9,000 | 166,950 | 6,122 | Form |
| 39 | Lucas, Shannon | President & COO | Securus Risk Management, LLC | Sell | 5042026 | 18.88 | 6,647 | 125,495 | 24,697,551 | Form |
| 40 | Lucas, Bruce | Chief Executive Officer | IIM Holdings II, LLC | Sell | 5042026 | 18.88 | 67,205 | 1,268,830 | 687,578,693 | Form |
| 41 | Lucas, Shannon | President & COO | Securus Risk Management, LLC | Sell | 5042026 | 18.77 | 8,450 | 158,606 | 24,678,421 | Form |
| 42 | Lucas, Bruce | Chief Executive Officer | IIM Holdings II, LLC | Sell | 5042026 | 18.77 | 85,436 | 1,603,634 | 684,834,111 | Form |
| 43 | Powell, Charles William | Chief Revenue Officer | Direct | Sell | 5012026 | 20.03 | 18,723 | 375,022 | 41,662 | Form |
| 44 | Larson, Matthew Paul | Chief Risk Officer | Direct | Sell | 4292026 | 20.02 | 44,752 | Form | ||
| 45 | Lucas, Bruce | Chief Executive Officer | IIM Holdings II, LLC | Sell | 4292026 | 19.24 | 191,276 | 3,680,150 | 703,626,117 | Form |
| 46 | Lucas, Shannon | President & COO | Securus Risk Management, LLC | Sell | 4292026 | 19.24 | 18,917 | 363,963 | 25,458,945 | Form |
| 47 | Lucas, Bruce | Chief Executive Officer | IIM Holdings II, LLC | Sell | 4292026 | 18.94 | 154,207 | 2,920,681 | 696,277,583 | Form |
| 48 | Lucas, Shannon | President & COO | Securus Risk Management, LLC | Sell | 4292026 | 18.94 | 15,251 | 288,854 | 25,420,264 | Form |
| 49 | Larson, Matthew Paul | Chief Risk Officer | Direct | Sell | 4292026 | 18.77 | 11,250 | Form | ||
| 50 | Lucas, Bruce | Chief Executive Officer | IIM Holdings II, LLC | Sell | 4292026 | 18.75 | 136,500 | 2,559,375 | 692,184,131 | Form |
| 51 | Lucas, Shannon | President & COO | Securus Risk Management, LLC | Sell | 4292026 | 18.75 | 13,500 | 253,125 | 25,451,212 | Form |
| 52 | Lucas, Shannon | President & COO | Securus Risk Management, LLC | Sell | 4222026 | 19.55 | 11,676 | 228,266 | 26,801,056 | Form |
| 53 | Lucas, Bruce | Chief Executive Officer | IIM Holdings II, LLC | Sell | 4222026 | 19.55 | 118,055 | 2,307,975 | 724,385,896 | Form |
| 54 | Larson, Matthew Paul | Chief Risk Officer | Direct | Sell | 4202026 | 19.39 | 11,250 | Form | ||
| 55 | Larson, Matthew Paul | Chief Risk Officer | Direct | Sell | 4202026 | 19.00 | 8,750 | Form | ||
| 56 | Larson, Matthew Paul | Chief Risk Officer | Direct | Sell | 4152026 | 18.00 | 10,000 | Form | ||
| 57 | Lucas, Bruce | Chief Executive Officer | IIM Holdings II, LLC | Sell | 4132026 | 18.05 | 259,055 | 4,675,943 | 674,381,898 | Form |
| 58 | Lucas, Shannon | President & COO | Securus Risk Management, LLC | Sell | 4132026 | 18.05 | 25,621 | 462,459 | 25,296,136 | Form |
| 59 | Lucas, Bruce | Chief Executive Officer | IIM Holdings II, LLC | Sell | 4132026 | 18.11 | 273,702 | 4,956,743 | 681,315,097 | Form |
| 60 | Lucas, Shannon | President & COO | Securus Risk Management, LLC | Sell | 4132026 | 18.11 | 27,069 | 490,220 | 25,844,220 | Form |
| 61 | Lucas, Bruce | Chief Executive Officer | IIM Holdings II, LLC | Sell | 4082026 | 18.01 | 121,414 | 2,186,666 | 682,482,376 | Form |
| 62 | Lucas, Shannon | President & COO | Securus Risk Management, LLC | Sell | 4082026 | 18.01 | 12,008 | 216,264 | 26,189,025 | Form |
| 63 | Gries, Robert JR | GRM Family Limited Partnership | Sell | 4082026 | 18.02 | 28,212 | 508,380 | 34,569,874 | Form | |
| 64 | Lucas, Bruce | Chief Executive Officer | IIM Holdings II, LLC | Sell | 4082026 | 18.00 | 114,077 | 2,053,386 | 684,288,882 | Form |
| 65 | Lucas, Shannon | President & COO | Securus Risk Management, LLC | Sell | 4082026 | 18.00 | 11,283 | 203,094 | 26,390,628 | Form |
| 66 | Larson, Matthew Paul | Chief Risk Officer | Direct | Sell | 4082026 | 18.00 | 11,250 | Form | ||
| 67 | Gries, Robert JR | GRM Family Limited Partnership | Sell | 4082026 | 18.06 | 28,212 | 509,509 | 35,156,120 | Form | |
| 68 | Lucas, Bruce | Chief Executive Officer | IIM Holdings II, LLC | Sell | 4082026 | 18.09 | 136,500 | 2,469,285 | 689,773,979 | Form |
| 69 | Lucas, Shannon | President & COO | Securus Risk Management, LLC | Sell | 4082026 | 18.09 | 13,500 | 244,215 | 26,726,691 | Form |
| 70 | Lucas, Bruce | Chief Executive Officer | IIM Holdings II, LLC | Sell | 4012026 | 18.01 | 8,771 | 157,966 | 689,181,934 | Form |
| 71 | Lucas, Shannon | President & COO | Securus Risk Management, LLC | Sell | 4012026 | 18.01 | 868 | 15,633 | 26,851,631 | Form |
| 72 | Lucas, Bruce | Chief Executive Officer | IIM Holdings II, LLC | Sell | 4012026 | 18.10 | 247,008 | 4,470,845 | 692,784,686 | Form |
| 73 | Lucas, Shannon | President & COO | Securus Risk Management, LLC | Sell | 4012026 | 18.10 | 24,429 | 442,165 | 27,001,526 | Form |
| 74 | Lucas, Bruce | Chief Executive Officer | IIM Holdings II, LLC | Sell | 4012026 | 18.09 | 135,376 | 2,448,952 | 696,870,306 | Form |
| 75 | Lucas, Shannon | President & COO | Securus Risk Management, LLC | Sell | 4012026 | 18.09 | 13,389 | 242,207 | 27,428,528 | Form |
| 76 | Larson, Matthew Paul | Chief Risk Officer | Direct | Sell | 4012026 | 18.00 | 11,250 | Form | ||
| 77 | Larson, Matthew Paul | Chief Risk Officer | Direct | Sell | 3252026 | 18.00 | 11,250 | Form | ||
| 78 | Gries, Robert JR | GRM Family Limited Partnership | Sell | 3182026 | 17.85 | 28,212 | 503,584 | 35,250,912 | Form | |
| 79 | Gries, Robert JR | GRM Family Limited Partnership | Sell | 3182026 | 18.35 | 28,212 | 517,690 | 36,756,023 | Form | |
| 80 | Lucas, Shannon | President & COO | Securus Risk Management, LLC | Sell | 3182026 | 18.44 | 9,763 | 180,030 | 28,639,312 | Form |
| 81 | Lucas, Bruce | Chief Executive Officer | IIM Holdings II, LLC | Sell | 3182026 | 18.44 | 98,716 | 1,820,323 | 717,229,645 | Form |
| 82 | Lucas, Shannon | President & COO | Securus Risk Management, LLC | Sell | 3182026 | 18.13 | 22,500 | 407,925 | 28,334,851 | Form |
| 83 | Lucas, Bruce | Chief Executive Officer | IIM Holdings II, LLC | Sell | 3182026 | 18.13 | 227,500 | 4,124,575 | 706,961,818 | Form |
| 84 | Larson, Matthew Paul | Chief Risk Officer | Direct | Sell | 3172026 | 18.00 | 11,250 | Form | ||
| 85 | Rohde, Stephen L | Direct | Sell | 3172026 | 17.78 | 10,000 | Form | |||
| 86 | Lucas, Shannon | President & COO | Securus Risk Management, LLC | Sell | 3122026 | 17.42 | 270 | 4,703 | 27,617,163 | Form |
| 87 | Lucas, Bruce | Chief Executive Officer | IIM Holdings II, LLC | Sell | 3122026 | 17.42 | 2,730 | 47,557 | 683,239,105 | Form |
| 88 | Lucas, Shannon | President & COO | Securus Risk Management, LLC | Sell | 3122026 | 17.80 | 11,700 | 208,260 | 28,224,410 | Form |
| 89 | Lucas, Bruce | Chief Executive Officer | IIM Holdings II, LLC | Sell | 3122026 | 17.80 | 118,300 | 2,105,740 | 698,191,881 | Form |
| 90 | Lucas, Shannon | President & COO | Securus Risk Management, LLC | Sell | 3092026 | 18.23 | 11,700 | 213,291 | 29,119,526 | Form |
| 91 | Lucas, Bruce | Chief Executive Officer | IIM Holdings II, LLC | Sell | 3092026 | 18.23 | 118,300 | 2,156,609 | 717,214,923 | Form |
| 92 | Lucas, Shannon | President & COO | Securus Risk Management, LLC | Sell | 3092026 | 18.59 | 23,884 | 444,004 | 29,912,072 | Form |
| 93 | Lucas, Bruce | Chief Executive Officer | IIM Holdings II, LLC | Sell | 3092026 | 18.59 | 241,493 | 4,489,355 | 733,577,443 | Form |
| 94 | Lucas, Shannon | President & COO | Securus Risk Management, LLC | Sell | 3092026 | 19.37 | 17,075 | 330,743 | 31,629,757 | Form |
| 95 | Lucas, Bruce | Chief Executive Officer | IIM Holdings II, LLC | Sell | 3092026 | 19.37 | 172,644 | 3,344,114 | 769,034,636 | Form |
| 96 | Rohde, Stephen L | Direct | Sell | 3052026 | 19.50 | 5,000 | Form | |||
| 97 | Rohde, Stephen L | Direct | Sell | 3052026 | 19.16 | 5,000 | Form | |||
| 98 | Larson, Matthew Paul | Chief Risk Officer | Direct | Sell | 3052026 | 19.01 | 11,250 | Form | ||
| 99 | Rohde, Stephen L | Direct | Sell | 3032026 | 18.83 | 9,335 | Form | |||
| 100 | Bruce, Beth Witte | Beth W. Bruce Witte Family 1992 Trust | Sell | 3032026 | 18.94 | 25,000 | 473,500 | 4,292,656 | Form |
Investor Activity (13F)
Updated Aug 8, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
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