Hancock Holding Co. bought a new position in shares of State National Companies, Inc. (NASDAQ:SNC) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,015 shares of the insurance provider’s stock, valued at approximately $239,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Russell Investments Group Ltd. lifted its holdings 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 purchasing an additional 2,021 shares in the last quarter. Legal & General Group Plc grew 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 purchasing an additional 139 shares during the last quarter. Old Mutual Global Investors UK Ltd. acquired a new stake in shares of State National Companies in the second quarter valued at approximately $158,000. Bank of Montreal Can acquired a new stake in shares of State National Companies in the first quarter valued at approximately $134,000. Finally, Prudential Financial Inc. grew its position in shares of State National Companies by 0.5% in the second quarter. Prudential Financial Inc. now owns 10,310 shares of the insurance provider’s stock valued at $190,000 after purchasing an additional 50 shares during the last quarter. Institutional investors own 57.24% of the company’s stock.

State National Companies, Inc. (NASDAQ:SNC) opened at 20.99 on Monday. State National Companies, Inc. has a 52 week low of $10.09 and a 52 week high of $21.51. The company has a 50-day moving average of $20.89 and a 200 day moving average of $17.42. The firm has a market cap of $885.21 million, a P/E ratio of 16.40 and a beta of 1.08.

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

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A number of brokerages have recently weighed in on SNC. Zacks Investment Research cut shares of State National Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. BidaskClub lowered State National Companies from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 12th. FBR & Co upped their target price 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. Finally, JMP Securities cut State National Companies from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. State National Companies has an average rating of “Hold” and a consensus target price of $33.00.

State National Companies 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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