State National Companies, Inc. (NASDAQ:SNC) had its price objective upped by stock analysts at FBR & Co from $18.00 to $22.00 in a note issued to investors on Friday, July 14th, MarketBeat.com reports. The brokerage presently has an “outperform” rating on the insurance provider’s stock. FBR & Co’s target price would suggest a potential upside of 4.56% from the company’s previous close.
Several other analysts have also weighed in on the stock. BidaskClub cut shares of State National Companies from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 12th. Zacks Investment Research cut shares of State National Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, ValuEngine cut shares of State National Companies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $27.60.
State National Companies (NASDAQ SNC) opened at 21.04 on Friday. The stock has a market capitalization of $887.32 million, a P/E ratio of 16.44 and a beta of 1.09. The company has a 50-day moving average price of $19.25 and a 200 day moving average price of $16.00. State National Companies has a 1-year low of $9.90 and a 1-year high of $21.51.
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A number of institutional investors have recently made changes to their positions in SNC. Vanguard Group Inc. boosted its position in shares of State National Companies by 2.4% in the second quarter. Vanguard Group Inc. now owns 1,331,080 shares of the insurance provider’s stock worth $24,465,000 after buying an additional 30,567 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of State National Companies by 3.2% in the first quarter. Wellington Management Group LLP now owns 848,621 shares of the insurance provider’s stock worth $12,220,000 after buying an additional 26,360 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in State National Companies by 16.1% in the second quarter. Dimensional Fund Advisors LP now owns 525,264 shares of the insurance provider’s stock valued at $9,654,000 after buying an additional 72,810 shares during the period. Renaissance Technologies LLC raised its stake in State National Companies by 2.8% in the first quarter. Renaissance Technologies LLC now owns 491,700 shares of the insurance provider’s stock valued at $7,080,000 after buying an additional 13,300 shares during the period. Finally, State Street Corp raised its stake in State National Companies by 11.0% in the fourth quarter. State Street Corp now owns 469,136 shares of the insurance provider’s stock valued at $6,502,000 after buying an additional 46,370 shares during the period. 57.52% of the stock is currently owned by hedge funds and other institutional investors.
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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