Several other equities research analysts have also recently weighed in on SNC. BidaskClub cut State National Companies from a buy rating to a hold rating in a research note on Saturday, September 30th. Canaccord Genuity reiterated a buy rating and set a $76.00 price target on shares of State National Companies in a report on Wednesday, September 13th. JMP Securities downgraded shares of State National Companies from an outperform rating to a market perform rating in a report on Tuesday, August 1st. ValuEngine downgraded shares of State National Companies from a strong-buy rating to a buy rating in a report on Tuesday, August 1st. Finally, Zacks Investment Research upgraded shares of State National Companies from a sell rating to a hold rating in a report on Wednesday, September 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. State National Companies has an average rating of Hold and a consensus target price of $38.00.
State National Companies (NASDAQ SNC) traded up 0.05% during midday trading on Tuesday, reaching $21.03. The company had a trading volume of 1,193,239 shares. The firm has a 50-day moving average of $20.90 and a 200-day moving average of $18.19. The stock has a market cap of $886.90 million, a P/E ratio of 16.43 and a beta of 1.08. State National Companies has a 12 month low of $10.09 and a 12 month high of $21.51.
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The business also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Monday, September 18th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, September 15th. This represents a $0.24 annualized dividend and a dividend yield of 1.14%. State National Companies’s dividend payout ratio (DPR) is presently 18.75%.
Several large investors have recently made changes to their positions in SNC. Nationwide Fund Advisors increased its holdings in shares of State National Companies by 0.5% during the first quarter. Nationwide Fund Advisors now owns 21,241 shares of the insurance provider’s stock worth $306,000 after buying an additional 103 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of State National Companies by 41.2% during the first quarter. Russell Investments Group Ltd. now owns 6,921 shares of the insurance provider’s stock worth $100,000 after buying an additional 2,021 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of State National Companies by 6.7% during the first quarter. Bank of New York Mellon Corp now owns 216,546 shares of the insurance provider’s stock worth $3,118,000 after buying an additional 13,504 shares in the last quarter. UBS Asset Management Americas Inc. acquired a new position in shares of State National Companies during the first quarter worth $151,000. Finally, Envestnet Asset Management Inc. increased its holdings in State National Companies by 14.2% in the first quarter. Envestnet Asset Management Inc. now owns 11,389 shares of the insurance provider’s stock valued at $164,000 after purchasing an additional 1,416 shares during the period. Institutional investors own 57.24% of the company’s stock.
State National Companies Company Profile
State National Companies, Inc is a specialty provider of property and casualty insurance. The Company’s segments include Program Services, Lender Services and Corporate. In the Program Services segment, the Company operates an issuing carrier (fronting) business to provide insurance capacity access to the United States property and casualty insurance markets.
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