State National Companies (SNC) Given Buy Rating at Canaccord Genuity

Canaccord Genuity reaffirmed their buy rating on shares of State National Companies (NASDAQ:SNC) in a report released on Thursday morning. Canaccord Genuity currently has a $77.00 target price on the insurance provider’s stock.

Several other brokerages also recently issued reports on SNC. Royal Bank of Canada reissued a buy rating and set a $67.00 target price on shares of State National Companies in a research note on Monday, October 23rd. FBR & Co reissued a neutral rating on shares of State National Companies in a research note on Tuesday, October 10th. Desjardins reissued a buy rating and set a $72.00 target price on shares of State National Companies in a research note on Friday, November 3rd. B. Riley reissued a buy rating on shares of State National Companies in a research note on Monday, November 6th. Finally, BidaskClub downgraded State National Companies from a sell rating to a strong sell rating in a research note on Saturday, November 4th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $50.80.

State National Companies (NASDAQ SNC) traded up $0.01 during midday trading on Thursday, hitting $21.02. The stock had a trading volume of 235,400 shares, compared to its average volume of 264,329. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.99 and a quick ratio of 0.99. State National Companies has a 1 year low of $12.00 and a 1 year high of $21.51. The company has a market capitalization of $886.49 and a P/E ratio of 16.95.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Old Mutual Global Investors UK Ltd. purchased a new position in shares of State National Companies in the 2nd quarter worth approximately $158,000. Prudential Financial Inc. boosted its holdings in shares of State National Companies by 0.5% in the 2nd quarter. Prudential Financial Inc. now owns 10,310 shares of the insurance provider’s stock worth $190,000 after purchasing an additional 50 shares during the period. LMR Partners LLP purchased a new position in shares of State National Companies in the 3rd quarter worth approximately $201,000. Voya Investment Management LLC purchased a new position in shares of State National Companies in the 2nd quarter worth approximately $214,000. Finally, Mint Tower Capital Management B.V. purchased a new position in shares of State National Companies in the 3rd quarter worth approximately $221,000. Institutional investors and hedge funds own 58.57% of the company’s stock.

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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.

Analyst Recommendations for State National Companies (NASDAQ:SNC)

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