State National Companies, Inc. (NASDAQ:SNC) shares reached a new 52-week high on Wednesday . The stock traded as high as $21.13 and last traded at $21.11, with a volume of 453,974 shares traded. The stock had previously closed at $20.97.

Several research analysts have recently weighed in on the stock. FBR & Co reaffirmed a “buy” rating on shares of State National Companies in a report on Monday, May 22nd. Zacks Investment Research cut shares of State National Companies from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. JMP Securities cut shares of State National Companies from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 1st. BidaskClub raised shares of State National Companies from a “buy” rating to a “strong-buy” rating in a report on Monday, July 31st. Finally, Singular Research cut shares of State National Companies from a “buy” rating to a “sell” rating in a report on Friday, July 28th. One analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $27.60.

The company’s 50-day moving average price is $18.68 and its 200-day moving average price is $15.75. The stock has a market cap of $890.27 million, a price-to-earnings ratio of 17.59 and a beta of 1.09.

A number of hedge funds have recently added to or reduced their stakes in the stock. State Street Corp raised its stake 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 in the last quarter. Dimensional Fund Advisors LP raised its stake 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 in the last quarter. Teachers Advisors LLC raised its stake in State National Companies by 7.3% in the fourth quarter. Teachers Advisors LLC now owns 57,983 shares of the insurance provider’s stock valued at $804,000 after buying an additional 3,944 shares in the last quarter. Highbridge Capital Management LLC purchased a new stake in State National Companies during the fourth quarter valued at approximately $156,000. Finally, Bank of Montreal Can purchased a new stake in State National Companies during the first quarter valued at approximately $134,000. Institutional investors own 57.52% of the company’s stock.

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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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