FBR & Co Increases State National Companies, Inc. (SNC) Price Target to $22.00

State National Companies, Inc. (NASDAQ:SNC) had its price objective raised by analysts at FBR & Co from $18.00 to $22.00 in a research note issued on Friday, July 14th, Marketbeat reports. The brokerage currently has an “outperform” rating on the insurance provider’s stock. FBR & Co’s price target suggests a potential upside of 4.81% from the company’s current price.

A number of other equities analysts have also commented on the company. Zacks Investment Research raised State National Companies from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Saturday, May 13th. ValuEngine lowered State National Companies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 27th. Finally, BidaskClub lowered State National Companies from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $27.60.

Shares of State National Companies (SNC) traded up 0.24% during trading on Friday, reaching $20.99. 508,357 shares of the company were exchanged. The company has a market capitalization of $885.21 million, a PE ratio of 17.49 and a beta of 1.09. State National Companies has a one year low of $9.90 and a one year high of $21.02. The firm’s 50 day moving average price is $18.37 and its 200 day moving average price is $15.63.

Large investors have recently modified their holdings of the company. Russell Investments Group Ltd. increased its stake in shares of State National Companies by 41.2% in the first quarter. Russell Investments Group Ltd. now owns 6,921 shares of the insurance provider’s stock valued at $100,000 after buying an additional 2,021 shares during the last quarter. Legal & General Group Plc increased its position in State National Companies by 1.7% in the first quarter. Legal & General Group Plc now owns 8,556 shares of the insurance provider’s stock valued at $123,000 after buying an additional 139 shares during the last quarter. Bank of Montreal Can purchased a new position in State National Companies during the first quarter valued at approximately $134,000. Envestnet Asset Management Inc. increased its position in State National Companies by 30.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 9,973 shares of the insurance provider’s stock valued at $139,000 after buying an additional 2,312 shares during the last quarter. Finally, UBS Asset Management Americas Inc. purchased a new position in State National Companies during the first quarter valued at approximately $151,000. Hedge funds and other institutional investors own 57.71% 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.