State National Companies’ (SNC) Buy Rating Reiterated at Canaccord Genuity
State National Companies, Inc. (NASDAQ:SNC)‘s stock had its “buy” rating reissued by Canaccord Genuity in a research report issued to clients and investors on Friday. They currently have a $77.00 price target on the insurance provider’s stock. Canaccord Genuity’s target price indicates a potential upside of 266.67% from the stock’s previous close.
Several other brokerages have also recently commented on SNC. JMP Securities cut shares of State National Companies from an “outperform” rating to a “market perform” rating in a research note on Tuesday, August 1st. FBR & Co reaffirmed a “neutral” rating on shares of State National Companies in a report on Tuesday, October 10th. BidaskClub lowered shares of State National Companies from a “buy” rating to a “hold” rating in a report on Saturday, September 30th. ValuEngine lowered shares of State National Companies from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st. Finally, Zacks Investment Research raised shares of State National Companies from a “sell” rating to a “hold” rating in a report on Wednesday, September 13th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $50.80.
Shares of State National Companies (NASDAQ:SNC) traded down $0.01 during midday trading on Friday, reaching $21.00. 188,505 shares of the company’s stock traded hands, compared to its average volume of 287,992. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.99 and a current ratio of 0.99. State National Companies has a twelve month low of $10.11 and a twelve month high of $21.51. The firm has a market cap of $885.65, a PE ratio of 16.94 and a beta of 1.06.
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Large investors have recently bought and sold shares of the company. Russell Investments Group Ltd. increased its holdings 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 valued at $100,000 after purchasing an additional 2,021 shares in the last quarter. Legal & General Group Plc increased its holdings in State National Companies by 1.7% in the 1st quarter. Legal & General Group Plc now owns 8,556 shares of the insurance provider’s stock worth $123,000 after acquiring an additional 139 shares in the last quarter. UBS Asset Management Americas Inc. purchased a new stake in State National Companies in the 1st quarter worth $151,000. Old Mutual Global Investors UK Ltd. purchased a new stake in State National Companies in the 2nd quarter worth $158,000. Finally, Prudential Financial Inc. increased its holdings in State National Companies by 0.5% in the 2nd quarter. Prudential Financial Inc. now owns 10,310 shares of the insurance provider’s stock worth $190,000 after acquiring an additional 50 shares in the last quarter. 57.09% of the stock is 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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