State National Companies, Inc. (NASDAQ:SNC) Reaches New 52-Week High at $20.91

Shares of State National Companies, Inc. (NASDAQ:SNC) hit a new 52-week high on Friday . The company traded as high as $20.91 and last traded at $20.91, with a volume of 614,757 shares traded. The stock had previously closed at $20.86.

A number of analysts recently weighed in on SNC shares. ValuEngine cut shares of State National Companies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 27th. FBR & Co restated a “buy” rating on shares of State National Companies in a research note on Monday, May 22nd. Zacks Investment Research upgraded shares of State National Companies from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Saturday, May 13th. BidaskClub cut shares of State National Companies from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 12th. Finally, Singular Research cut shares of State National Companies from a “buy” rating to a “sell” rating in a research note on Friday. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $27.60.

The company has a market capitalization of $881.84 million, a price-to-earnings ratio of 17.42 and a beta of 1.04. The stock’s 50-day moving average price is $18.17 and its 200 day moving average price is $15.51.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Monday, June 19th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Thursday, June 15th. State National Companies’s payout ratio is currently 19.83%.

Large investors have recently bought and sold shares of the company. Bessemer Group Inc. increased its stake in shares of State National Companies by 27.1% in the second quarter. Bessemer Group Inc. now owns 36,600 shares of the insurance provider’s stock worth $673,000 after buying an additional 7,800 shares during the last quarter. Rothschild Asset Management Inc. increased its stake in shares of State National Companies by 0.3% in the second quarter. Rothschild Asset Management Inc. now owns 192,789 shares of the insurance provider’s stock worth $3,543,000 after buying an additional 596 shares during the last quarter. Bowling Portfolio Management LLC acquired a new stake in shares of State National Companies during the second quarter worth $599,000. Russell Investments Group Ltd. increased its stake in shares of State National Companies by 91.2% in the second quarter. Russell Investments Group Ltd. now owns 13,235 shares of the insurance provider’s stock worth $243,000 after buying an additional 6,314 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in shares of State National Companies by 36.6% in the second quarter. Bank of Montreal Can now owns 12,646 shares of the insurance provider’s stock worth $232,000 after buying an additional 3,390 shares during the last quarter. 57.69% of the stock is owned by institutional investors and hedge funds.

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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.