State National Companies, Inc. (SNC) Lowered to “Strong Sell” at BidaskClub

BidaskClub lowered shares of State National Companies, Inc. (NASDAQ:SNC) from a sell rating to a strong sell rating in a research report sent to investors on Saturday.

A number of other equities analysts have also recently commented on SNC. Canaccord Genuity restated a buy rating and set a $77.00 target price on shares of State National Companies in a report on Friday. Desjardins restated a buy rating and set a $72.00 target price on shares of State National Companies in a report on Friday. JMP Securities cut State National Companies from an outperform rating to a market perform rating in a report on Tuesday, August 1st. FBR & Co restated a neutral rating on shares of State National Companies in a report on Tuesday, October 10th. Finally, ValuEngine cut State National Companies from a strong-buy rating to a buy rating in a report on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $50.80.

Shares of State National Companies (NASDAQ SNC) traded down $0.01 during trading on Friday, reaching $21.00. The company had a trading volume of 188,505 shares, compared to its average volume of 287,992. State National Companies has a 12 month low of $10.11 and a 12 month high of $21.51. The stock has a market cap of $885.65, a PE ratio of 16.94 and a beta of 1.06. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.14.

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Several institutional investors and hedge funds have recently made changes to their positions in SNC. Russell Investments Group Ltd. boosted its stake in shares of State National Companies by 41.2% in the 1st 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 period. Bank of New York Mellon Corp boosted its stake in shares of State National Companies by 6.7% in the 1st quarter. Bank of New York Mellon Corp now owns 216,546 shares of the insurance provider’s stock valued at $3,118,000 after buying an additional 13,504 shares during the period. UBS Asset Management Americas Inc. purchased a new position in shares of State National Companies in the 1st quarter valued at about $151,000. American International Group Inc. boosted its stake in shares of State National Companies by 7.0% in the 1st quarter. American International Group Inc. now owns 18,779 shares of the insurance provider’s stock valued at $270,000 after buying an additional 1,230 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of State National Companies by 1.2% in the 1st quarter. TIAA CREF Investment Management LLC now owns 135,969 shares of the insurance provider’s stock valued at $1,958,000 after buying an additional 1,611 shares during the period. Institutional investors and hedge funds own 57.09% 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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