Zacks Investment Research upgraded shares of State National Cos. (NASDAQ:SNC) from a strong sell rating to a hold rating in a research report sent to investors on Wednesday morning.
According to Zacks, “State National Companies, Inc. is a specialty provider of property and casualty insurance. It operates in two segments, Program Services and Lender Services. Its Program Services segment engages in offering issuing carrier capacity for insurance and reinsurance companies. The Company’s Lender Services segment provides collateral protection insurance, or CPI, to its credit union, bank and specialty finance clients. State National Companies, Inc. is headquartered in Bedford, Texas. “
Separately, Singular Research assumed coverage on shares of State National Cos. in a research note on Tuesday, September 6th. They issued a buy rating and a $15.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $15.67.
State National Cos. (NASDAQ:SNC) traded down 0.46% during midday trading on Wednesday, hitting $10.80. 4,596 shares of the stock traded hands. State National Cos. has a one year low of $8.46 and a one year high of $13.26. The company’s 50 day moving average is $10.62 and its 200-day moving average is $10.97. The company has a market cap of $457.23 million, a P/E ratio of 10.16 and a beta of 0.65.
State National Cos. (NASDAQ:SNC) last released its quarterly earnings data on Monday, August 8th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by $0.01. State National Cos. had a return on equity of 16.92% and a net margin of 22.37%. On average, equities research analysts forecast that State National Cos. will post $1.06 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.24 dividend on an annualized basis and a yield of 2.21%. State National Cos.’s dividend payout ratio is presently 22.43%.
A number of hedge funds and other institutional investors have recently bought and sold shares of SNC. Kalos Management Inc. acquired a new position in State National Cos. during the second quarter worth approximately $119,000. Spark Investment Management LLC purchased a new position in shares of State National Cos. during the first quarter worth about $187,000. Alliancebernstein L.P. purchased a new position in shares of State National Cos. during the second quarter worth about $163,000. A.R.T. Advisors LLC purchased a new position in shares of State National Cos. during the second quarter worth about $223,000. Finally, Nationwide Fund Advisors raised its position in shares of State National Cos. by 11.0% in the second quarter. Nationwide Fund Advisors now owns 22,138 shares of the company’s stock worth $233,000 after buying an additional 2,196 shares during the period. Institutional investors own 51.86% of the company’s stock.
State National Cos. 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 that provides insurance capacity access to the United States property and casualty insurance markets.