BidaskClub downgraded shares of State National Companies, Inc. (NASDAQ:SNC) from a buy rating to a hold rating in a report released on Saturday.

Several other equities research analysts have also issued reports on SNC. Canaccord Genuity reissued a buy rating and set a $76.00 price objective on shares of State National Companies in a research note on Wednesday, September 13th. JMP Securities cut State National Companies from an outperform rating to a market perform rating in a report on Tuesday, August 1st. ValuEngine cut State National Companies from a strong-buy rating to a buy rating in a report on Tuesday, August 1st. Zacks Investment Research upgraded State National Companies from a sell rating to a hold rating in a research report on Wednesday, September 13th. Finally, Singular Research lowered State National Companies from a buy rating to a sell rating in a report on Friday, July 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $33.00.

State National Companies (SNC) opened at 20.97 on Friday. The firm has a 50-day moving average price of $20.89 and a 200-day moving average price of $17.86. State National Companies has a 52-week low of $10.09 and a 52-week high of $21.51. The company has a market cap of $884.37 million, a PE ratio of 16.38 and a beta of 1.08.

TRADEMARK VIOLATION NOTICE: “BidaskClub Lowers State National Companies, Inc. (SNC) to Hold” was originally posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this report on another website, it was copied illegally and republished in violation of U.S. & international copyright & trademark legislation. The legal version of this report can be read at https://www.thecerbatgem.com/2017/10/03/bidaskclub-lowers-state-national-companies-inc-snc-to-hold.html.

The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Monday, September 18th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, September 15th. This represents a $0.24 dividend on an annualized basis and a yield of 1.14%. State National Companies’s dividend payout ratio is presently 18.75%.

A number of hedge funds have recently modified their holdings of SNC. Vanguard Group Inc. boosted its holdings in shares of State National Companies by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 1,331,080 shares of the insurance provider’s stock worth $24,465,000 after purchasing an additional 30,567 shares in the last quarter. Wellington Management Group LLP increased its position in shares of State National Companies by 3.2% during the 1st quarter. Wellington Management Group LLP now owns 848,621 shares of the insurance provider’s stock valued at $12,220,000 after purchasing an additional 26,360 shares during the last quarter. State Street Corp increased its position in shares of State National Companies by 6.4% during the 2nd quarter. State Street Corp now owns 547,006 shares of the insurance provider’s stock valued at $10,054,000 after purchasing an additional 32,969 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of State National Companies by 16.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 525,264 shares of the insurance provider’s stock valued at $9,654,000 after purchasing an additional 72,810 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of State National Companies by 2.8% during the 1st quarter. Renaissance Technologies LLC now owns 491,700 shares of the insurance provider’s stock valued at $7,080,000 after purchasing an additional 13,300 shares during the last quarter. 57.24% of the stock is owned by hedge funds and other institutional investors.

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.

Receive News & Stock Ratings for State National Companies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for State National Companies Inc. and related stocks with our FREE daily email newsletter.