Ameriprise Financial Inc. Has $18,880,000 Position in State National Cos. (SNC)
Ameriprise Financial Inc. decreased its position in shares of State National Cos. (NASDAQ:SNC) by 2.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,792,862 shares of the company’s stock after selling 51,580 shares during the period. Ameriprise Financial Inc. owned about 4.20% of State National Cos. worth $18,880,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP bought a new position in State National Cos. during the first quarter valued at $10,484,000. Mckinley Capital Management LLC Delaware bought a new position in State National Cos. during the first quarter valued at $4,226,000. Rothschild Asset Management Inc. bought a new position in State National Cos. during the second quarter valued at $1,080,000. Renaissance Technologies LLC boosted its position in State National Cos. by 136.2% in the first quarter. Renaissance Technologies LLC now owns 175,700 shares of the company’s stock valued at $2,214,000 after buying an additional 101,300 shares during the period. Finally, NFC Investments LLC boosted its position in State National Cos. by 30.6% in the first quarter. NFC Investments LLC now owns 291,982 shares of the company’s stock valued at $3,679,000 after buying an additional 68,332 shares during the period. Hedge funds and other institutional investors own 51.95% of the company’s stock.
State National Cos. (NASDAQ:SNC) traded up 0.85% during mid-day trading on Tuesday, reaching $10.69. 27,769 shares of the company’s stock traded hands. The company has a 50 day moving average price of $10.43 and a 200-day moving average price of $11.11. State National Cos. has a 12 month low of $8.33 and a 12 month high of $13.26. The stock has a market cap of $452.57 million, a P/E ratio of 10.06 and a beta of 0.67.
State National Cos. (NASDAQ:SNC) last released its quarterly earnings results on Monday, August 8th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by $0.01. State National Cos. had a return on equity of 16.92% and a net margin of 22.37%. On average, analysts anticipate that State National Cos. will post $1.32 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.24 annualized dividend and a yield of 2.26%. State National Cos.’s payout ratio is 22.43%.
A number of analysts have recently commented on the stock. Telsey Advisory Group boosted their price objective on shares of State National Cos. from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Thursday, June 2nd. FBR & Co reissued a “buy” rating and issued a $16.00 price objective (up previously from $15.00) on shares of State National Cos. in a research report on Thursday, June 2nd. Singular Research assumed coverage on shares of State National Cos. in a research report on Tuesday, September 6th. They issued a “buy” rating and a $15.00 price objective on the stock. Finally, Zacks Investment Research lowered shares of State National Cos. from a “hold” rating to a “sell” rating in a research report on Friday, August 12th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $14.50.
State National Cos. 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 that provides insurance capacity access to the United States property and casualty insurance markets.
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