State National Companies, Inc. (NASDAQ:SNC) saw a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 605,877 shares, a drop of 43.5% from the October 31st total of 1,071,890 shares. Currently, 1.6% of the shares of the company are sold short. Based on an average daily trading volume, of 124,187 shares, the days-to-cover ratio is currently 4.9 days.

A number of large investors have recently modified their holdings of SNC. Legal & General Group Plc lifted its position in State National Companies by 1.7% in the 1st 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. UBS Asset Management Americas Inc. bought a new stake in State National Companies in the 1st quarter valued at about $151,000. Old Mutual Global Investors UK Ltd. bought a new stake in State National Companies in the 2nd quarter valued at about $158,000. Prudential Financial Inc. lifted its position in State National Companies by 0.5% in the 2nd 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. Finally, LMR Partners LLP bought a new stake in State National Companies in the 3rd quarter valued at about $201,000. Hedge funds and other institutional investors own 58.57% of the company’s stock.

SNC has been the topic of a number of recent research reports. BidaskClub downgraded shares of State National Companies from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Canaccord Genuity restated a “buy” rating and issued a $77.00 price target on shares of State National Companies in a research report on Friday, November 3rd. Desjardins restated a “buy” rating and issued a $72.00 price target on shares of State National Companies in a research report on Friday, November 3rd. B. Riley restated a “buy” rating on shares of State National Companies in a research report on Monday, November 6th. Finally, FBR & Co restated a “neutral” rating on shares of State National Companies in a research report on Tuesday, October 10th. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $50.80.

Shares of State National Companies (NASDAQ:SNC) opened at $21.02 on Friday. The firm has a market cap of $886.49 and a PE ratio of 16.95. State National Companies has a 52-week low of $12.00 and a 52-week high of $21.51. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.99 and a quick ratio of 0.99.

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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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