State National Companies, Inc. (NASDAQ:SNC) has received a consensus rating of “Hold” from the eight research firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $76.00.

Several equities research analysts have commented on SNC shares. BidaskClub cut State National Companies from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. ValuEngine cut State National Companies from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. Singular Research cut State National Companies from a “buy” rating to a “sell” rating in a research note on Friday, July 28th. Canaccord Genuity restated a “buy” rating and issued a $76.00 target price on shares of State National Companies in a research note on Wednesday, September 13th. Finally, Zacks Investment Research upgraded State National Companies from a “sell” rating to a “hold” rating in a research note on Wednesday, September 13th.

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State National Companies (SNC) opened at 21.04 on Wednesday. The firm has a market cap of $887.32 million, a P/E ratio of 16.44 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. The company has a 50-day moving average price of $20.90 and a 200-day moving average price of $18.15.

The business also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Monday, September 18th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.14%. The ex-dividend date was Friday, September 15th. State National Companies’s dividend payout ratio (DPR) is 18.75%.

Several large investors have recently bought and sold shares of SNC. Nationwide Fund Advisors increased its position in shares of State National Companies by 0.5% during the 1st quarter. Nationwide Fund Advisors now owns 21,241 shares of the insurance provider’s stock worth $306,000 after purchasing an additional 103 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of State National Companies by 41.2% during the 1st quarter. Russell Investments Group Ltd. now owns 6,921 shares of the insurance provider’s stock worth $100,000 after purchasing an additional 2,021 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of State National Companies by 6.7% during the 1st quarter. Bank of New York Mellon Corp now owns 216,546 shares of the insurance provider’s stock worth $3,118,000 after purchasing an additional 13,504 shares during the last quarter. UBS Asset Management Americas Inc. acquired a new position in shares of State National Companies during the 1st quarter worth approximately $151,000. Finally, Envestnet Asset Management Inc. increased its position in shares of State National Companies by 14.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 11,389 shares of the insurance provider’s stock worth $164,000 after purchasing an additional 1,416 shares during the last quarter. 57.24% of the stock is currently owned by hedge funds and other institutional investors.

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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