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

State National Companies, Inc. (NASDAQ:SNC) had its price objective boosted by FBR & Co from $18.00 to $22.00 in a research report report published on Friday, MarketBeat reports. FBR & Co currently has an outperform rating on the insurance provider’s stock.

Several other research analysts have also recently weighed in on SNC. BidaskClub cut shares of State National Companies from a strong-buy rating to a buy rating in a report on Wednesday, July 12th. Zacks Investment Research cut shares of State National Companies from a buy rating to a hold rating in a report on Wednesday, July 12th. Finally, ValuEngine cut shares of State National Companies from a strong-buy rating to a buy rating in a report on Saturday, May 27th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. State National Companies has a consensus rating of Buy and a consensus price target of $27.60.

State National Companies (NASDAQ SNC) traded up 0.17% during midday trading on Friday, reaching $18.00. The company had a trading volume of 75,469 shares. The stock’s 50 day moving average price is $16.99 and its 200-day moving average price is $14.83. The firm has a market capitalization of $759.11 million, a P/E ratio of 15.00 and a beta of 1.04. State National Companies has a one year low of $9.90 and a one year high of $19.01.

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The company also recently declared a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Monday, June 19th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, June 15th. This represents a $0.24 annualized dividend and a dividend yield of 1.33%. State National Companies’s dividend payout ratio is 19.83%.

A number of hedge funds have recently modified their holdings of the stock. Nationwide Fund Advisors raised its stake in shares of State National Companies by 0.5% in the first quarter. Nationwide Fund Advisors now owns 21,241 shares of the insurance provider’s stock worth $306,000 after buying an additional 103 shares in the last quarter. Legal & General Group Plc raised its stake in shares of 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 worth $123,000 after buying an additional 139 shares in the last quarter. American International Group Inc. raised its stake in shares of State National Companies by 7.0% in the first quarter. American International Group Inc. now owns 18,779 shares of the insurance provider’s stock worth $270,000 after buying an additional 1,230 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of State National Companies by 14.2% in the first quarter. Envestnet Asset Management Inc. now owns 11,389 shares of the insurance provider’s stock worth $164,000 after buying an additional 1,416 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake in shares of State National Companies by 1.2% in the first quarter. TIAA CREF Investment Management LLC now owns 135,969 shares of the insurance provider’s stock worth $1,958,000 after buying an additional 1,611 shares in the last quarter. Hedge funds and other institutional investors own 57.76% of the company’s stock.

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.

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