Shares of State National Companies, Inc. (NASDAQ:SNC) have been given a consensus rating of “Buy” by the eight brokerages that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $30.00.

SNC has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of State National Companies from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Saturday, May 13th. ValuEngine downgraded shares of State National Companies from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 27th. FBR & Co reaffirmed a “buy” rating on shares of State National Companies in a research note on Monday, May 22nd. Finally, BidaskClub downgraded shares of State National Companies from a “strong-buy” rating to a “buy” rating in a research note on Wednesday.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. boosted its position in shares of State National Companies by 41.2% in the first quarter. Russell Investments Group Ltd. now owns 6,921 shares of the insurance provider’s stock valued at $100,000 after buying an additional 2,021 shares in the last quarter. Legal & General Group Plc boosted its position in shares of State National Companies by 1.7% in the first quarter. Legal & General Group Plc now owns 8,556 shares of the insurance provider’s stock valued at $123,000 after buying an additional 139 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of State National Companies during the first quarter valued at about $134,000. Envestnet Asset Management Inc. boosted its position in shares of State National Companies by 30.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 9,973 shares of the insurance provider’s stock valued at $139,000 after buying an additional 2,312 shares in the last quarter. Finally, UBS Asset Management Americas Inc. purchased a new position in shares of State National Companies during the first quarter valued at about $151,000. Institutional investors and hedge funds own 57.75% of the company’s stock.

State National Companies (NASDAQ SNC) traded up 1.01% during trading on Monday, reaching $17.97. 77,290 shares of the company’s stock traded hands. The firm’s 50 day moving average is $16.99 and its 200 day moving average is $14.83. State National Companies has a 12 month low of $9.90 and a 12 month high of $19.01. The company has a market cap of $757.85 million, a P/E ratio of 14.97 and a beta of 1.04.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 3rd. Shareholders of record on Monday, June 19th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date was Thursday, June 15th. State National Companies’s payout ratio is currently 19.83%.

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State National Companies 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 to provide insurance capacity access to the United States property and casualty insurance markets.

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