Wedge Capital Management L L P NC increased its stake in shares of State National Companies, Inc. (NASDAQ:SNC) by 86.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 134,896 shares of the insurance provider’s stock after buying an additional 62,526 shares during the period. Wedge Capital Management L L P NC’s holdings in State National Companies were worth $2,479,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its stake 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 worth $100,000 after buying an additional 2,021 shares during the last quarter. Legal & General Group Plc raised its stake 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 worth $123,000 after buying an additional 139 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of State National Companies during the first quarter worth about $134,000. UBS Asset Management Americas Inc. acquired a new stake in shares of State National Companies during the first quarter worth about $151,000. Finally, Highbridge Capital Management LLC acquired a new stake in shares of State National Companies during the fourth quarter worth about $156,000. 58.04% of the stock is currently owned by institutional investors.

Shares of State National Companies, Inc. (SNC) opened at 21.00 on Wednesday. The stock’s 50 day moving average price is $19.46 and its 200-day moving average price is $16.14. The stock has a market capitalization of $885.63 million, a price-to-earnings ratio of 16.41 and a beta of 1.09. State National Companies, Inc. has a 12 month low of $9.90 and a 12 month high of $21.51.

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A number of brokerages have recently issued reports on SNC. FBR & Co reaffirmed a “buy” rating on shares of State National Companies in a research report on Monday, May 22nd. Zacks Investment Research lowered State National Companies from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. ValuEngine lowered State National Companies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 27th. BidaskClub lowered State National Companies from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 12th. Finally, JMP Securities lowered State National Companies from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $27.60.

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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Institutional Ownership by Quarter for State National Companies (NASDAQ:SNC)

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