The stock of State National Companies Inc (NASDAQ:SNC) hit a new 52-week high and has $17.62 target or 32.00% above today’s $13.35 share price. The 7 months bullish chart indicates low risk for the $572.09M company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $17.62 price target is reached, the company will be worth $183.07 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 60,802 shares traded hands. State National Companies Inc (NASDAQ:SNC) has risen 11.69% since April 19, 2016 and is uptrending. It has outperformed by 7.83% the S&P500.
State National Companies Inc (NASDAQ:SNC) Ratings Coverage
Out of 2 analysts covering State National Companies (NASDAQ:SNC), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. State National Companies has been the topic of 2 analyst reports since September 2, 2015 according to StockzIntelligence Inc. The rating was initiated by JMP Securities with “Market Outperform” on Friday, October 2. Zacks upgraded the shares of SNC in a report on Wednesday, September 2 to “Hold” rating.
According to Zacks Investment Research, “State National Companies, Inc. is a specialty provider of property and casualty insurance. It operates in two segments, Program Services and Lender Services. Its Program Services segment engages in offering issuing carrier capacity for insurance and reinsurance companies. The Company’s Lender Services segment provides collateral protection insurance, or CPI, to its credit union, bank and specialty finance clients. State National Companies, Inc. is headquartered in Bedford, Texas.”
Insitutional Activity: The institutional sentiment increased to 1.83 in 2016 Q2. Its up 0.08, from 1.75 in 2016Q1. The ratio improved, as 6 funds sold all State National Companies Inc shares owned while 22 reduced positions. 19 funds bought stakes while 30 increased positions. They now own 21.91 million shares or 1.53% less from 22.25 million shares in 2016Q1.
Blackrock Japan Communication Limited has invested 0% of its portfolio in State National Companies Inc (NASDAQ:SNC). State Street Corp last reported 411,889 shares in the company. Alliancebernstein Lp has 15,500 shares for 0% of their US portfolio. American Century accumulated 27,705 shares or 0% of the stock. Blackrock Investment Mgmt Ltd Co has 137,889 shares for 0% of their US portfolio. Wellington Mngmt Grp Inc Limited Liability Partnership owns 827,171 shares or 0% of their US portfolio. California State Teachers Retirement Systems accumulated 0% or 63,992 shares. State Of Wisconsin Inv Board holds 350,000 shares or 0.01% of its portfolio. Blackrock Institutional Company Na reported 815,095 shares or 0% of all its holdings. Howard Hughes Med Institute reported 10,285 shares or 0.04% of all its holdings. Brandywine Glob Limited Liability has 0% invested in the company for 19,800 shares. The New York-based Morgan Stanley has invested 0% in State National Companies Inc (NASDAQ:SNC). Eubel Brady And Suttman Asset Management Incorporated holds 0.07% or 19,545 shares in its portfolio. Kensico Mngmt, a Connecticut-based fund reported 687,000 shares. Teacher Retirement System Of Texas holds 0% or 4,331 shares in its portfolio.
More news for State National Companies Inc (NASDAQ:SNC) were recently published by: Prnewswire.com, which released: “State National Companies Announces Third Quarter 2016 Earnings Release …” on October 11, 2016. Globenewswire.com‘s article titled: “State National Announces Agreement to Acquire United National Specialty …” and published on May 13, 2016 is yet another important article.
SNC Company Profile
State National Companies, Inc., incorporated on January 25, 2002, is a specialty well-known provider of property and casualty insurance. The Company’s divisions include Program Services, Lender Services and Corporate. In the Program Services segment, the Company operates an issuing carrier (fronting) business that provides insurance capacity access to the United States property and casualty insurance markets. In the Lender Services segment, the Company writes and insures lines of insurance marketed to lending institutions, collateral protection insurance (CPI) policies. The Corporate segment consists of the investment portfolio and subordinated debentures, and includes rental income, investment income, interest expense and corporate expenses. The Firm writes its insurance business through its insurance firm subsidiaries, which include State National Insurance Company, Inc. (SNIC), National Specialty Insurance Company (NSIC) and United Specialty Insurance Company (USIC). SNIC and NSIC are admitted carriers licensed to write property and casualty business in approximately 50 states and the District of Columbia. USIC is an admitted carrier in Delaware and is eligible to write surplus lines in approximately 50 states and the District of Columbia.
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