State National Cos. (SNC) Upgraded to Hold by Zacks Investment Research
State National Cos. (NASDAQ:SNC) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report 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. “
Separately, Singular Research initiated coverage on State National Cos. in a report on Tuesday, September 6th. They set a “buy” rating and a $15.00 target price on the stock. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $15.67.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/12/state-national-cos-snc-upgraded-to-hold-by-zacks-investment-research.html
State National Cos. (NASDAQ:SNC) opened at 10.80 on Wednesday. The firm’s 50-day moving average price is $10.60 and its 200 day moving average price is $10.97. State National Cos. has a 1-year low of $8.46 and a 1-year high of $13.26. The firm has a market capitalization of $457.23 million, a price-to-earnings ratio of 10.16 and a beta of 0.65.
State National Cos. (NASDAQ:SNC) last posted its quarterly earnings results on Monday, August 8th. The company reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by $0.01. State National Cos. had a return on equity of 16.92% and a net margin of 22.37%. On average, analysts predict that State National Cos. will post $1.06 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Wednesday, September 28th. State National Cos.’s payout ratio is presently 22.43%.
Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Group LTD increased its stake in State National Cos. by 13.2% in the second quarter. BlackRock Group LTD now owns 45,218 shares of the company’s stock valued at $476,000 after buying an additional 5,285 shares during the period. BlackRock Investment Management LLC increased its stake in State National Cos. by 7.2% in the second quarter. BlackRock Investment Management LLC now owns 137,889 shares of the company’s stock valued at $1,452,000 after buying an additional 9,287 shares during the period. Vanguard Group Inc. increased its stake in State National Cos. by 19.9% in the second quarter. Vanguard Group Inc. now owns 1,261,578 shares of the company’s stock valued at $13,284,000 after buying an additional 208,990 shares during the period. Dimensional Fund Advisors LP purchased a new stake in State National Cos. during the second quarter valued at about $2,070,000. Finally, Nationwide Fund Advisors increased its stake in State National Cos. by 11.0% in the second quarter. Nationwide Fund Advisors now owns 22,138 shares of the company’s stock valued at $233,000 after buying an additional 2,196 shares during the period. Institutional investors and hedge funds own 51.86% of the company’s stock.
State National Cos. 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 that provides insurance capacity access to the United States property and casualty insurance markets.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for State National Cos. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for State National Cos. and related companies with MarketBeat.com's FREE daily email newsletter.