Magnetar Financial LLC purchased a new position in State National Companies Inc (NASDAQ:SNC) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,210,742 shares of the insurance provider’s stock, valued at approximately $25,413,000. Magnetar Financial LLC owned approximately 2.87% of State National Companies at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Alliancebernstein L.P. lifted its holdings in State National Companies by 345.1% in the 2nd quarter. Alliancebernstein L.P. now owns 72,548 shares of the insurance provider’s stock worth $1,333,000 after purchasing an additional 56,248 shares in the last quarter. Federated Investors Inc. PA lifted its holdings in State National Companies by 10.4% in the 2nd quarter. Federated Investors Inc. PA now owns 145,271 shares of the insurance provider’s stock worth $2,670,000 after purchasing an additional 13,726 shares in the last quarter. Stevens Capital Management LP purchased a new position in State National Companies in the 3rd quarter worth approximately $697,000. Schwab Charles Investment Management Inc. lifted its holdings in State National Companies by 6.1% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 107,274 shares of the insurance provider’s stock worth $1,545,000 after purchasing an additional 6,156 shares in the last quarter. Finally, IndexIQ Advisors LLC increased its stake in State National Companies by 228.7% in the 3rd quarter. IndexIQ Advisors LLC now owns 108,065 shares of the insurance provider’s stock worth $2,268,000 after acquiring an additional 75,190 shares during the last quarter. 58.57% of the stock is currently owned by institutional investors.

Shares of State National Companies Inc (SNC) opened at $21.02 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.13. State National Companies Inc has a 12 month low of $12.00 and a 12 month high of $21.51. The stock has a market capitalization of $886.49 and a P/E ratio of 16.95.

A number of analysts have issued reports on the company. B. Riley reaffirmed a “buy” rating on shares of State National Companies in a research note on Monday, November 6th. BidaskClub downgraded State National Companies from a “sell” rating to a “strong sell” rating in a research note on Saturday, November 4th. Desjardins reaffirmed a “buy” rating and issued a $72.00 price objective on shares of State National Companies in a research note on Friday, November 3rd. Canaccord Genuity reaffirmed a “buy” rating and issued a $77.00 price objective on shares of State National Companies in a research note on Friday, November 3rd. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $67.00 price objective on shares of State National Companies in a research note on Monday, October 23rd. Two 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 company presently has a consensus rating of “Hold” and a consensus price target of $50.80.

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State National Companies 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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Institutional Ownership by Quarter for State National Companies (NASDAQ:SNC)

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