Welcome to our dedicated page for Security Natl news (Ticker: SNFCA), a resource for investors and traders seeking the latest updates and insights on Security Natl stock.
Security National Financial Corporation (NASDAQ: SNFCA) is a U.S.-based financial services company with three reportable segments: life insurance, cemeteries and mortuaries, and mortgages. This news page aggregates press releases and announcements that describe how these segments perform over time and how management responds to changing conditions in insurance, death care services, and mortgage lending.
News for Security National Financial Corporation often centers on quarterly and year-to-date financial results, where the company reports after-tax earnings, segment revenues, and earnings before taxes. Management commentary in these releases discusses factors such as investment income related to real estate activities and equity markets, personnel costs, accounting standards like CECL and LDTI, and operating trends in each segment.
Another key category of updates involves the cemetery and mortuary operations, including developments at properties such as Singing Hills Memorial Park in El Cajon, California. Announcements may describe expansions like the Mountain Vistas Mausoleum, predevelopment offerings, and the park’s role within Security National’s Funeral Homes & Cemeteries division.
The company also issues news about its mortgage and real estate-related activities, such as lending transactions for residential developments. For example, Security National has reported on acquisition and development loans that generate interest, origination fees, and profit-split income, and that can position its residential mortgage segment to provide long-term financing to homebuyers.
Additional items covered in SNFCA news include stock dividends on Class A and Class C common stock, inclusion in the Russell 3000 Index, and announcements of earnings calls where management reviews results and provides segment updates. Investors and observers can use this news stream to follow how the company’s three segments evolve, how capital allocation decisions are made, and how corporate actions such as stock dividends and index membership are communicated.
Security National Financial Corporation (NASDAQ: SNFCA) declared a 5% stock dividend for stockholders of record on July 1, 2022, to be issued on July 8, 2022. This marks the company’s 34th consecutive year of issuing a stock dividend, highlighting its commitment to shareholder returns. CEO Scott Quist noted that shareholders appreciate the dividend for its potential in long-term appreciation or cash flow options. This announcement emphasizes the company’s stable financial management and ongoing dedication to its investors.
Security National Financial Corporation (SNFCA) reported a significant decline in Q1 2022 financial results, with after-tax earnings dropping 73% to $3.2 million from $12.1 million in Q1 2021. Revenue decreased by 17% to $102.4 million. Despite these numbers, the company noted an 83% increase in earnings compared to Q1 2019. Challenges stemmed from rising interest rates affecting the Mortgage Segment, while the Life Segment experienced increased operational costs despite high mortality claims. Book value per share decreased to $14.29 from $14.77.
Security National Financial Corporation (SNFCA) reported a 29% drop in after-tax earnings for the year ended December 31, 2021, totaling $39.5 million, compared to $55.6 million in 2020. Revenues decreased by 2% to $470.7 million. The company noted a significant increase in Stockholder’s Equity by 50% and a revenue growth of 66% over the two-year span. Life Insurance revenue rose by 7.9%, while revenues from the Mortgages segment fell by 9.4%. Net earnings per share decreased to $1.96 from $2.81 in the previous year, with Book value per share improving to $14.77.
Security National Financial Corporation (NASDAQ: SNFCA) has successfully completed the acquisition of Holbrook Mortuary, a prominent funeral service provider in Salt Lake City, serving around 200 families annually. This strategic move enhances Security National's operational footprint in the Salt Lake Valley and aligns with its ongoing growth strategy through acquisitions. The company reported solid financial performance with assets of $1.56 billion and gross revenue of $358.9 million as of September 30, 2021. This acquisition marks the third in the death care sector for SNFCA within three years.
Security National Financial Corporation (NASDAQ: SNFCA) has successfully completed the acquisition of Rivera Family Funeral Homes and Santa Fe Memorial Gardens, a prominent death care service provider in New Mexico. This acquisition expands Security National's operations, which serve over 1,300 families annually and aligns with the company’s strategic growth plan that includes both direct sales and acquisitions. As of September 30, 2021, Security National reported assets of $1.56 billion and gross revenue of $358.9 million.
Security National Financial Corporation (SNFCA) reported a 63.2% decrease in after-tax earnings for Q3 2021, dropping to $10,791,000 from $29,305,000 in 2020, while revenues fell by 18.3% to $119,509,000. For the first nine months of 2021, earnings also decreased 33.4% to $34,177,000. Despite these declines, ROA stood at 2.11% and return on equity at 11.5%. The company's Memorial segment showed resilience with a 22% revenue increase, while insurance income rose 105% year-over-year amidst steady premium collections.
Security National Financial Corporation (NASDAQ: SNFCA) is nearing the completion of a new 6-story Class A office building at 433 Ascension Way, Murray, Utah, which will serve as its corporate headquarters. This facility will facilitate the relocation of various Utah-based operations, improving overall efficiency. The building is set to be fully occupied, with SNFCA occupying approximately 51%. The company reported record-high revenues and a book value of $14.25 per common share, alongside a 5% stock dividend distributed on July 16, 2021, marking 33 consecutive years of dividends.
Security National Financial Corporation (SNFCA) reported a 45.2% decrease in after-tax earnings from operations for Q2 2021, totaling $11,258,000, compared to $20,557,000 in Q2 2020. Despite this, the company's six-month earnings grew 6.4% to $23,386,000. The mortgage segment saw revenue decline by 8.3% due to reduced refinancing activity, while the memorial segment's operational income surged 200% year-over-year. The company’s book value per share increased to $14.25, up from $13.87. Net earnings per share was $1.12, a slight increase from $1.10 in the previous year.
Security National Financial Corporation (SNFCA) reported a significant increase in financial results for Q1 2021. After-tax earnings surged by 751%, rising from $1,424,000 in 2020 to $12,129,000 in 2021. Revenues also grew by 54% to $122,659,000. The Life Insurance segment faced a 37% rise in death claims, influenced by the pandemic, contrasting with increased profitability in the Memorial segment due to better preneed sales. The net earnings per share improved to $0.61 from $0.08 year-over-year, and book value per share rose to $14.18.
Security National Financial Corporation (SNFCA) reported significant financial growth for the year ending December 31, 2020. After-tax earnings surged 410% to $55.6 million, compared to $10.9 million in 2019, with revenues increasing 70% to $481.5 million. The company achieved a return on equity of 21%. Notably, the mortgage segment experienced a 120% revenue rise, while insurance profitability improved by 81%. EPS rose to $2.88 from $0.58 the previous year, and book value increased to $13.87 per share.
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