State National Companies, Inc. (SNC) Downgraded by BidaskClub to Strong Sell
State National Companies, Inc. (NASDAQ:SNC) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Saturday.
SNC has been the subject of a number of other reports. ValuEngine lowered State National Companies from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. Singular Research lowered State National Companies from a “buy” rating to a “sell” rating in a research note on Friday, July 28th. Canaccord Genuity reiterated a “buy” rating and issued a $76.00 price target on shares of State National Companies in a report on Wednesday, September 13th. JMP Securities cut State National Companies from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 1st. Finally, FBR & Co raised their price target on State National Companies from $18.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, July 14th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. State National Companies currently has an average rating of “Hold” and an average price target of $50.80.
Shares of State National Companies (NASDAQ:SNC) traded down $0.01 during trading hours on Friday, hitting $21.00. The stock had a trading volume of 188,505 shares, compared to its average volume of 256,605. State National Companies has a 52 week low of $10.11 and a 52 week high of $21.51. The firm has a market capitalization of $885.64 and a price-to-earnings ratio of 16.94. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.99 and a current ratio of 0.99.
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A number of institutional investors and hedge funds have recently modified their holdings of SNC. Ashford Capital Management Inc. bought a new position in State National Companies during the second quarter worth about $7,710,000. Thrivent Financial For Lutherans bought a new position in State National Companies during the second quarter worth about $5,400,000. Dimensional Fund Advisors LP boosted its holdings in State National Companies by 34.5% during the first quarter. Dimensional Fund Advisors LP now owns 452,454 shares of the insurance provider’s stock worth $6,515,000 after buying an additional 115,940 shares during the last quarter. Precept Management LLC boosted its holdings in State National Companies by 152.0% during the second quarter. Precept Management LLC now owns 189,000 shares of the insurance provider’s stock worth $3,474,000 after buying an additional 114,000 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. bought a new position in State National Companies during the third quarter worth about $2,243,000. Hedge funds and other institutional investors own 57.09% 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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