State National Companies, Inc. (NASDAQ:SNC) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Friday.

Several other analysts have also recently issued reports on the company. ValuEngine cut State National Companies from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. JMP Securities cut State National Companies from an “outperform” rating to a “market perform” rating in a research note on Tuesday, August 1st. Singular Research cut State National Companies from a “buy” rating to a “sell” rating in a research note on Friday, July 28th. FBR & Co raised their target price on State National Companies from $18.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, July 14th. Finally, Zacks Investment Research cut State National Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. State National Companies has a consensus rating of “Hold” and a consensus price target of $27.60.

State National Companies (NASDAQ:SNC) opened at 20.77 on Friday. The stock has a 50 day moving average price of $20.31 and a 200-day moving average price of $16.74. The firm has a market capitalization of $875.93 million, a P/E ratio of 16.23 and a beta of 1.09. State National Companies has a 52 week low of $10.09 and a 52 week high of $21.51.

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Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of State National Companies by 2.4% in the second quarter. Vanguard Group Inc. now owns 1,331,080 shares of the insurance provider’s stock valued at $24,465,000 after buying an additional 30,567 shares during the period. Wellington Management Group LLP raised its stake in shares of State National Companies by 3.2% in the first quarter. Wellington Management Group LLP now owns 848,621 shares of the insurance provider’s stock valued at $12,220,000 after buying an additional 26,360 shares during the period. State Street Corp raised its stake in shares of State National Companies by 6.4% in the second quarter. State Street Corp now owns 547,006 shares of the insurance provider’s stock valued at $10,054,000 after buying an additional 32,969 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of State National Companies by 16.1% in the second quarter. Dimensional Fund Advisors LP now owns 525,264 shares of the insurance provider’s stock valued at $9,654,000 after buying an additional 72,810 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of State National Companies by 2.8% in the first quarter. Renaissance Technologies LLC now owns 491,700 shares of the insurance provider’s stock valued at $7,080,000 after buying an additional 13,300 shares during the period. Institutional investors and hedge funds own 57.24% 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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