State National Companies, Inc. (NASDAQ:SNC) had its price target lifted by research analysts at FBR & Co from $18.00 to $22.00 in a research note issued on Friday, Marketbeat.com reports. The brokerage currently has an “outperform” rating on the insurance provider’s stock. FBR & Co’s price objective would suggest a potential upside of 22.36% from the company’s previous close.
Other research analysts have also issued reports about the company. Zacks Investment Research lowered State National Companies from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. BidaskClub lowered State National Companies from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 12th. Finally, ValuEngine lowered State National Companies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 27th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $27.60.
State National Companies (NASDAQ SNC) traded down 0.11% during midday trading on Friday, hitting $17.98. The company had a trading volume of 61,895 shares. The firm has a market cap of $758.27 million, a price-to-earnings ratio of 14.98 and a beta of 1.04. The stock has a 50 day moving average of $16.99 and a 200 day moving average of $14.83. State National Companies has a 52-week low of $9.90 and a 52-week high of $19.01.
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A number of institutional investors have recently bought and sold shares of SNC. Boston Partners purchased a new position in State National Companies during the first quarter worth approximately $6,070,000. Renaissance Technologies LLC increased its position in State National Companies by 63.3% in the fourth quarter. Renaissance Technologies LLC now owns 478,400 shares of the insurance provider’s stock worth $6,631,000 after buying an additional 185,400 shares during the period. Dimensional Fund Advisors LP increased its position in State National Companies by 34.5% in the first quarter. Dimensional Fund Advisors LP now owns 452,454 shares of the insurance provider’s stock worth $6,515,000 after buying an additional 115,940 shares during the period. LSV Asset Management increased its position in State National Companies by 131.9% in the first quarter. LSV Asset Management now owns 196,249 shares of the insurance provider’s stock worth $2,825,000 after buying an additional 111,633 shares during the period. Finally, Wells Fargo & Company MN increased its position in State National Companies by 53.1% in the first quarter. Wells Fargo & Company MN now owns 309,252 shares of the insurance provider’s stock worth $4,453,000 after buying an additional 107,319 shares during the period. Institutional investors and hedge funds own 57.76% of the company’s stock.
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.
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