The stock of State National Companies Inc (NASDAQ:SNC) reached all time high today, Nov, 22 and still has $14.21 target or 5.00% above today’s $13.53 share price. This indicates more upside for the $562.57M company. This technical setup was reported by Barchart.com. If the $14.21 PT is reached, the company will be worth $28.13M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 30,265 shares traded hands. State National Companies Inc (NASDAQ:SNC) has risen 10.68% since April 20, 2016 and is uptrending. It has outperformed by 6.12% 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 company was upgraded on Wednesday, September 2 by Zacks. The firm earned “Market Outperform” rating on Friday, October 2 by JMP Securities.
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.
Franklin accumulated 0% or 373,757 shares. Ameriprise Fincl holds 0.01% of its portfolio in State National Companies Inc (NASDAQ:SNC) for 1.79 million shares. The Wisconsin-based State Of Wisconsin Inv Board has invested 0.01% in State National Companies Inc (NASDAQ:SNC). Legal And General Gp Pcl has 0% invested in the company for 5,221 shares. Fortress Gru Ltd Llc has 0.96% invested in the company for 3.50M shares. Blackrock Inc has 0% invested in the company for 8,576 shares. Prospector Lc last reported 0.18% of its portfolio in the stock. Rothschild Asset Mgmt accumulated 102,533 shares or 0.02% of the stock. Nationwide Fund Advsrs has invested 0% of its portfolio in State National Companies Inc (NASDAQ:SNC). Fj Capital Ltd Company holds 519,000 shares or 1.08% of its portfolio. First Advsrs L P has 0% invested in the company for 15,649 shares. The Florida-based Ladenburg Thalmann Financial Services Inc has invested 0% in State National Companies Inc (NASDAQ:SNC). Goldman Sachs Gp Inc has 40,603 shares for 0% of their US portfolio. Bnp Paribas Arbitrage Sa reported 1,185 shares or 0% of all its holdings. Art Ltd Co holds 0.01% or 21,244 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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