California State Teachers Retirement System lowered its stake in State National Cos. (NASDAQ:SNC) by 3.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,992 shares of the company’s stock after selling 2,192 shares during the period. California State Teachers Retirement System owned approximately 0.15% of State National Cos. worth $674,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of the company. Kalos Management Inc. bought a new stake in shares of State National Cos. during the second quarter valued at $119,000. Strs Ohio increased its stake in shares of State National Cos. by 23.8% in the second quarter. Strs Ohio now owns 61,800 shares of the company’s stock valued at $650,000 after buying an additional 11,900 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of State National Cos. by 137.9% in the first quarter. Envestnet Asset Management Inc. now owns 8,562 shares of the company’s stock valued at $108,000 after buying an additional 4,963 shares during the period. Renaissance Technologies LLC increased its stake in shares of State National Cos. by 136.2% in the first quarter. Renaissance Technologies LLC now owns 175,700 shares of the company’s stock valued at $2,214,000 after buying an additional 101,300 shares during the period. Finally, Wellington Management Group LLP bought a new stake in shares of State National Cos. during the first quarter valued at $10,484,000. 51.86% of the stock is currently owned by hedge funds and other institutional investors.
State National Cos. (NASDAQ:SNC) traded down 0.46% on Tuesday, hitting $10.92. The stock had a trading volume of 24,028 shares. State National Cos. has a 12-month low of $8.33 and a 12-month high of $13.26. The company’s 50 day moving average is $10.52 and its 200 day moving average is $11.04. The firm has a market cap of $462.31 million, a PE ratio of 10.27 and a beta of 0.65.
State National Cos. (NASDAQ:SNC) last issued its earnings results on Monday, August 8th. The company reported $0.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.25 by $0.01. State National Cos. had a net margin of 22.37% and a return on equity of 16.92%. On average, equities research analysts expect that State National Cos. will post $1.10 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Wednesday, September 28th. State National Cos.’s payout ratio is currently 22.43%.
SNC has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded State National Cos. from a “hold” rating to a “sell” rating in a report on Friday, August 12th. Singular Research initiated coverage on State National Cos. in a report on Tuesday, September 6th. They issued a “buy” rating and a $15.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $15.67.
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.
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