State National Companies, Inc. (NASDAQ:SNC)‘s stock had its “buy” rating reiterated by Royal Bank Of Canada in a research note issued on Monday. They currently have a $67.00 target price on the insurance provider’s stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 218.29% from the stock’s previous close.
Several other research firms have also issued reports on SNC. Canaccord Genuity reaffirmed a “buy” rating and issued a $76.00 price objective on shares of State National Companies in a research note on Wednesday, September 13th. JMP Securities lowered shares of State National Companies from an “outperform” rating to a “market perform” rating in a research note on Tuesday, August 1st. FBR & Co reaffirmed a “neutral” rating on shares of State National Companies in a research note on Tuesday, October 10th. BidaskClub lowered shares of State National Companies from a “buy” rating to a “hold” rating in a research note on Saturday, September 30th. Finally, ValuEngine downgraded shares of State National Companies from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $45.25.
Shares of State National Companies (NASDAQ:SNC) traded down 0.05% during mid-day trading on Monday, reaching $21.04. The company had a trading volume of 77,621 shares. The company’s 50-day moving average is $20.93 and its 200 day moving average is $18.48. State National Companies has a 52-week low of $10.09 and a 52-week high of $21.51. The stock has a market capitalization of $887.32 million, a P/E ratio of 16.44 and a beta of 1.08.
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A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Ashford Capital Management Inc. bought a new position in State National Companies in the 2nd quarter worth $7,710,000. Sterling Capital Management LLC raised its holdings in State National Companies by 8.4% in the 2nd quarter. Sterling Capital Management LLC now owns 62,975 shares of the insurance provider’s stock worth $1,157,000 after acquiring an additional 4,869 shares during the period. Susquehanna International Group LLP bought a new position in State National Companies in the 2nd quarter worth $720,000. NFC Investments LLC raised its holdings in State National Companies by 0.5% in the 2nd quarter. NFC Investments LLC now owns 439,080 shares of the insurance provider’s stock worth $8,070,000 after acquiring an additional 2,240 shares during the period. Finally, State Street Corp raised its holdings in State National Companies by 6.4% in the 2nd quarter. State Street Corp now owns 547,006 shares of the insurance provider’s stock worth $10,054,000 after acquiring an additional 32,969 shares during the period. Hedge funds and other institutional investors own 57.24% 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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