Canaccord Genuity reaffirmed their buy rating on shares of State National Companies, Inc. (NASDAQ:SNC) in a report issued on Wednesday. The brokerage currently has a $76.00 price target on the insurance provider’s stock.

Other equities analysts also recently issued research reports about the stock. BidaskClub downgraded shares of State National Companies from a strong-buy rating to a buy rating in a research note on Friday, September 1st. ValuEngine cut shares of State National Companies from a strong-buy rating to a buy rating in a research note on Tuesday, August 1st. FBR & Co reaffirmed a buy rating on shares of State National Companies in a research note on Monday, May 22nd. Zacks Investment Research raised shares of State National Companies from a sell rating to a hold rating in a research note on Wednesday. Finally, JMP Securities cut shares of State National Companies from an outperform rating to a market perform rating in a research note on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $33.00.

Shares of State National Companies (NASDAQ:SNC) opened at 21.02 on Wednesday. The company has a market cap of $886.48 million, a P/E ratio of 16.42 and a beta of 1.09. State National Companies has a one year low of $10.09 and a one year high of $21.51. The stock’s 50 day moving average is $20.89 and its 200-day moving average is $17.28.

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The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 18th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.24 annualized dividend and a yield of 1.14%. State National Companies’s dividend payout ratio is currently 18.75%.

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in State National Companies by 2.4% during the second quarter. Vanguard Group Inc. now owns 1,331,080 shares of the insurance provider’s stock valued at $24,465,000 after acquiring an additional 30,567 shares in the last quarter. Wellington Management Group LLP grew its stake in State National Companies by 3.2% during the first quarter. Wellington Management Group LLP now owns 848,621 shares of the insurance provider’s stock valued at $12,220,000 after acquiring an additional 26,360 shares in the last quarter. State Street Corp grew its stake in State National Companies by 6.4% during the second quarter. State Street Corp now owns 547,006 shares of the insurance provider’s stock valued at $10,054,000 after acquiring an additional 32,969 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in State National Companies by 16.1% during the second quarter. Dimensional Fund Advisors LP now owns 525,264 shares of the insurance provider’s stock valued at $9,654,000 after acquiring an additional 72,810 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in State National Companies by 2.8% during the first quarter. Renaissance Technologies LLC now owns 491,700 shares of the insurance provider’s stock valued at $7,080,000 after acquiring an additional 13,300 shares in the last quarter. 57.24% of the stock is owned by institutional investors.

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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