State National Companies, Inc. (SNC) Receives Consensus Recommendation of “Hold” from Brokerages
State National Companies, Inc. (NASDAQ:SNC) has been assigned a consensus rating of “Hold” from the eight analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $49.00.
A number of research analysts recently commented on SNC shares. FBR & Co reissued a “buy” rating on shares of State National Companies in a report on Monday, May 22nd. ValuEngine cut State National Companies from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 27th. Zacks Investment Research cut State National Companies from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. BidaskClub cut State National Companies from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 12th. Finally, Singular Research cut State National Companies from a “buy” rating to a “sell” rating in a report on Friday, July 28th.
A number of large investors have recently added to or reduced their stakes in the business. Ashford Capital Management Inc. bought a new stake in State National Companies in the 2nd quarter worth approximately $7,710,000. Sterling Capital Management LLC increased its stake in State National Companies by 8.4% in the 2nd quarter. Sterling Capital Management LLC now owns 62,975 shares of the insurance provider’s stock worth $1,157,000 after acquiring an additional 4,869 shares during the last quarter. Susquehanna International Group LLP bought a new stake in State National Companies in the 2nd quarter worth approximately $720,000. NFC Investments LLC increased its stake in State National Companies by 0.5% in the 2nd quarter. NFC Investments LLC now owns 439,080 shares of the insurance provider’s stock worth $8,070,000 after acquiring an additional 2,240 shares during the last quarter. Finally, State Street Corp increased its stake in State National Companies by 6.4% in the 2nd quarter. State Street Corp now owns 547,006 shares of the insurance provider’s stock worth $10,054,000 after acquiring an additional 32,969 shares during the last quarter. 57.24% of the stock is currently owned by institutional investors and hedge funds.
State National Companies (SNC) opened at 21.02 on Friday. State National Companies has a 52-week low of $10.09 and a 52-week high of $21.51. The company has a 50 day moving average of $20.89 and a 200 day moving average of $17.28. The company has a market capitalization of $886.48 million, a PE ratio of 16.42 and a beta of 1.09.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 18th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Friday, September 15th. State National Companies’s payout ratio is 18.75%.
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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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