State National Cos. (NASDAQ:SNC) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
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 started coverage on State National Cos. in a research report on Tuesday, September 6th. They set a “buy” rating and a $15.00 target price for the company. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $15.67.
Shares of State National Cos. (NASDAQ:SNC) opened at 10.79 on Wednesday. The company’s 50-day moving average price is $10.64 and its 200 day moving average price is $10.97. State National Cos. has a 1-year low of $8.46 and a 1-year high of $13.26. The firm has a market cap of $456.81 million, a PE ratio of 10.15 and a beta of 0.65.
State National Cos. (NASDAQ:SNC) last posted its earnings results on Monday, August 8th. The company reported $0.24 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, analysts predict that State National Cos. will post $1.06 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 2.22%. The ex-dividend date is Wednesday, September 28th. State National Cos.’s dividend payout ratio (DPR) is currently 22.43%.
A number of large investors have recently modified their holdings of SNC. Spark Investment Management LLC purchased a new stake in shares of State National Cos. during the first quarter valued at about $187,000. NFC Investments LLC raised its stake in State National Cos. by 30.6% in the first quarter. NFC Investments LLC now owns 291,982 shares of the company’s stock worth $3,679,000 after buying an additional 68,332 shares during the period. Wellington Management Group LLP bought a new stake in State National Cos. during the first quarter worth $10,484,000. Strs Ohio raised its stake in State National Cos. by 23.8% in the second quarter. Strs Ohio now owns 61,800 shares of the company’s stock worth $650,000 after buying an additional 11,900 shares during the period. Finally, Kalos Management Inc. bought a new stake in State National Cos. during the second quarter worth $119,000. 51.86% of the stock is owned by hedge funds and other institutional investors.
About State National Cos.
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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