State National Companies, Inc. (SNC) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of State National Companies, Inc. (NASDAQ:SNC) from a sell rating to a hold rating in a research note released on Wednesday.

According to Zacks, “State National Companies, Inc. is a specialty provider of property and casualty insurance. It operates in two segments, Program Services and Lender Services. Its Program Services segment engages in offering issuing carrier capacity for insurance and reinsurance companies. The Company’s Lender Services segment provides collateral protection insurance, or CPI, to its credit union, bank and specialty finance clients. State National Companies, Inc. is headquartered in Bedford, Texas. “

Other research analysts have also recently issued research reports about the company. JMP Securities cut State National Companies from an outperform rating to a market perform rating in a research report on Tuesday, August 1st. BidaskClub upgraded State National Companies from a buy rating to a strong-buy rating in a research report on Monday, July 31st. Singular Research cut State National Companies from a buy rating to a sell rating in a research report on Friday, July 28th. ValuEngine cut State National Companies from a strong-buy rating to a buy rating in a research report on Tuesday, August 1st. Finally, FBR & Co lifted their target price on State National Companies from $18.00 to $22.00 and gave the company an outperform rating in a research report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. State National Companies currently has an average rating of Hold and a consensus target price of $33.00.

State National Companies (NASDAQ SNC) opened at 21.02 on Wednesday. State National Companies has a 12 month low of $10.09 and a 12 month high of $21.51. The firm has a market cap of $886.48 million, a P/E ratio of 16.42 and a beta of 1.09. The company’s 50-day moving average is $20.89 and its 200 day moving average is $17.28.

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The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 18th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Friday, September 15th. State National Companies’s dividend payout ratio is presently 18.75%.

Institutional investors have recently added to or reduced their stakes in the business. American International Group Inc. grew its position in State National Companies by 7.0% in the first quarter. American International Group Inc. now owns 18,779 shares of the insurance provider’s stock valued at $270,000 after acquiring an additional 1,230 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in State National Companies by 6.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 107,274 shares of the insurance provider’s stock valued at $1,545,000 after acquiring an additional 6,156 shares during the last quarter. Oxford Asset Management bought a new position in State National Companies in the first quarter valued at about $1,033,000. Trexquant Investment LP grew its position in State National Companies by 21.4% in the first quarter. Trexquant Investment LP now owns 25,900 shares of the insurance provider’s stock valued at $373,000 after acquiring an additional 4,558 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in State National Companies by 41.2% in the first quarter. Russell Investments Group Ltd. now owns 6,921 shares of the insurance provider’s stock valued at $100,000 after acquiring an additional 2,021 shares during the last quarter. Hedge funds and other institutional investors own 57.24% of the company’s stock.

About State National Companies

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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