State National Companies, Inc. (NASDAQ:SNC)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $21.13 and last traded at $21.11, with a volume of 453,974 shares changing hands. The stock had previously closed at $20.97.

Several equities analysts recently issued reports on the company. FBR & Co boosted their price target on State National Companies from $18.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, July 14th. Singular Research lowered State National Companies from a “buy” rating to a “sell” rating in a research note on Friday, July 28th. BidaskClub lowered State National Companies from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 12th. Zacks Investment Research lowered State National Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, ValuEngine downgraded State National Companies from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $27.60.

The firm’s 50 day moving average price is $19.71 and its 200-day moving average price is $16.26. The company has a market cap of $882.68 million, a P/E ratio of 16.35 and a beta of 1.09.

Several institutional investors have recently modified their holdings of the company. Boston Partners bought a new position in shares of State National Companies during the first quarter worth approximately $6,070,000. Thrivent Financial For Lutherans bought a new position in shares of State National Companies during the second quarter worth approximately $5,400,000. Dimensional Fund Advisors LP raised its position in shares of State National Companies by 34.5% in the first quarter. Dimensional Fund Advisors LP now owns 452,454 shares of the insurance provider’s stock worth $6,515,000 after buying an additional 115,940 shares during the last quarter. Precept Management LLC raised its position in shares of State National Companies by 152.0% in the second quarter. Precept Management LLC now owns 189,000 shares of the insurance provider’s stock worth $3,474,000 after buying an additional 114,000 shares during the last quarter. Finally, LSV Asset Management raised its position in shares of State National Companies by 131.9% in the first quarter. LSV Asset Management now owns 196,249 shares of the insurance provider’s stock worth $2,825,000 after buying an additional 111,633 shares during the last quarter. 58.04% of the stock is currently owned by hedge funds and other institutional investors.

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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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