Singular Research downgraded shares of State National Companies, Inc. (NASDAQ:SNC) from a buy rating to a sell rating in a research report report published on Friday morning, MarketBeat reports.

A number of other equities research analysts have also recently issued reports on SNC. BidaskClub cut shares of State National Companies from a strong-buy rating to a buy rating in a report on Wednesday, July 12th. FBR & Co reaffirmed a buy rating on shares of State National Companies in a report on Monday, May 22nd. ValuEngine cut shares of State National Companies from a strong-buy rating to a buy rating in a report on Saturday, May 27th. Finally, Zacks Investment Research cut shares of State National Companies from a buy rating to a hold rating in a report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $27.60.

State National Companies (NASDAQ SNC) opened at 20.88 on Friday. The company has a market capitalization of $880.57 million, a price-to-earnings ratio of 17.40 and a beta of 1.04. The firm’s 50-day moving average price is $18.26 and its 200 day moving average price is $15.58. State National Companies has a 12-month low of $9.90 and a 12-month high of $20.95.

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The company also recently declared a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Monday, June 19th were given a dividend of $0.06 per share. The ex-dividend date was Thursday, June 15th. This represents a $0.24 annualized dividend and a dividend yield of 1.15%. State National Companies’s dividend payout ratio is 19.83%.

Several hedge funds have recently bought and sold shares of the company. Highbridge Capital Management LLC bought a new stake in shares of State National Companies during the fourth quarter worth $156,000. Dimensional Fund Advisors LP increased its position in State National Companies by 28.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 336,514 shares of the insurance provider’s stock valued at $4,664,000 after buying an additional 74,090 shares during the last quarter. State Street Corp increased its position in State National Companies by 11.0% in the fourth quarter. State Street Corp now owns 469,136 shares of the insurance provider’s stock valued at $6,502,000 after buying an additional 46,370 shares during the last quarter. Trexquant Investment LP increased its position in State National Companies by 21.4% in the first quarter. Trexquant Investment LP now owns 25,900 shares of the insurance provider’s stock valued at $373,000 after buying an additional 4,558 shares during the last quarter. Finally, Oxford Asset Management acquired a new position in State National Companies during the first quarter valued at about $1,033,000. Institutional investors and hedge funds own 57.71% of the company’s stock.

About State National Companies

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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