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 started coverage on State National Cos. in a research report on Tuesday, September 6th. They issued a “buy” rating and a $15.00 target price for the company. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. State National Cos. currently has an average rating of “Buy” and an average price target of $15.67.
Shares of State National Cos. (NASDAQ:SNC) opened at 10.80 on Wednesday. The company has a 50-day moving average of $10.60 and a 200 day moving average of $10.97. State National Cos. has a 12-month low of $8.46 and a 12-month high of $13.26. The firm has a market cap of $457.23 million, a P/E ratio of 10.16 and a beta of 0.65.
State National Cos. (NASDAQ:SNC) last posted its quarterly earnings data on Monday, August 8th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.25 by $0.01. State National Cos. had a net margin of 22.37% and a return on equity of 16.92%. Equities analysts predict that State National Cos. will post $1.06 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be given a $0.06 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.24 annualized dividend and a yield of 2.22%. State National Cos.’s dividend payout ratio (DPR) is currently 22.43%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new position in State National Cos. during the first quarter valued at about $10,484,000. GSA Capital Partners LLP bought a new position in State National Cos. during the second quarter valued at about $428,000. Rothschild Asset Management Inc. bought a new position in State National Cos. during the second quarter valued at about $1,080,000. NFC Investments LLC raised its position in State National Cos. by 30.6% in the first quarter. NFC Investments LLC now owns 291,982 shares of the company’s stock valued at $3,679,000 after buying an additional 68,332 shares in the last quarter. Finally, Strs Ohio raised its position in State National Cos. by 23.8% in the second quarter. Strs Ohio now owns 61,800 shares of the company’s stock valued at $650,000 after buying an additional 11,900 shares in the last quarter. Hedge funds and other institutional investors own 51.86% of the company’s stock.
About State National Cos.
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.
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