State National Cos. (SNC) Stock Rating Upgraded by Zacks Investment Research
State National Cos. (NASDAQ:SNC) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday. The firm presently has a $15.00 price objective on the stock. Zacks Investment Research’s price target would indicate a potential upside of 18.11% from the stock’s previous close.
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. “
SNC has been the subject of several other reports. JMP Securities reaffirmed a “buy” rating on shares of State National Cos. in a research report on Thursday, November 10th. Singular Research assumed coverage on State National Cos. in a research report on Tuesday, September 6th. They set a “buy” rating and a $15.00 price objective for the company. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $15.50.
Shares of State National Cos. (NASDAQ:SNC) opened at 12.70 on Wednesday. The firm has a market cap of $532.43 million, a price-to-earnings ratio of 11.13 and a beta of 0.71. The firm has a 50-day moving average price of $10.92 and a 200-day moving average price of $10.76. State National Cos. has a 12-month low of $9.05 and a 12-month high of $13.26.
The business also recently announced a quarterly dividend, which was paid on Monday, October 17th. Investors of record on Friday, September 30th were issued a dividend of $0.06 per share. The ex-dividend date was Wednesday, September 28th. This represents a $0.24 annualized dividend and a yield of 1.89%. State National Cos.’s payout ratio is presently 20.69%.
Hedge funds have recently added to or reduced their stakes in the company. Prudential Financial Inc. bought a new stake in State National Cos. during the third quarter valued at about $114,000. Kalos Management Inc. bought a new stake in State National Cos. during the second quarter valued at about $119,000. LSV Asset Management bought a new stake in State National Cos. during the third quarter valued at about $153,000. D. E. Shaw & Co. Inc. bought a new stake in State National Cos. during the third quarter valued at about $155,000. Finally, Alliancebernstein L.P. bought a new stake in State National Cos. during the second quarter valued at about $163,000. Institutional investors and hedge funds own 52.20% of the company’s stock.
State National Cos. 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 that provides insurance capacity access to the United States property and casualty insurance markets.
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