Security Natl Stock Price, News & Analysis

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.

Security National Financial Corporation (NASDAQ-SNFCA) has announced a new lease of approximately 100,800 square feet in building two of its Center 53 campus in Murray, Utah. R1 RCM Inc., already a tenant in building one, will occupy space in building two, increasing its preleased occupancy to 50%. This expansion is viewed positively amidst concerns about the office market due to COVID-19, indicating confidence in the submarket. CEO Scott Quist expressed optimism for the future of their operations and the Center 53 campus.

Security National Financial Corporation (SNFCA) reported significant financial growth for Q3 2020. After-tax earnings surged 710.2% to $29.3 million, up from $3.6 million in 2019. Revenues increased by 94% to $146.2 million. Year-to-date figures reflected a 468.1% rise in after-tax earnings to $51.3 million. The mortgage segment experienced a 141.6% revenue increase due to heightened refinance volumes, while the insurance segment benefitted from the integration of Kilpatrick Life Insurance Company, achieving profitability despite COVID-related challenges.

Security National Financial Corporation (NASDAQ-SNFCA) has announced a new lease encompassing approximately 5,700 square feet in its Center 53 campus in Murray, Utah, for Inside Real Estate's headquarters. The buildout is set to begin immediately, with anticipated occupancy in January 2021. This addition will elevate occupancy in Phase 1 of Center 53 to 93% and highlights the campus's appeal even during the Covid-19 pandemic. Inside Real Estate, a leading real estate software firm, serves over 200,000 clients with its innovative kvCORE platform.

Security National Financial Corporation (SNFCA) reported a 490.7% increase in after-tax earnings from operations for Q2 2020, reaching $20.56 million, compared to $3.48 million in 2019. Revenues surged by 73.4% to $118.66 million. The significant growth is attributed mainly to the mortgage segment, benefiting from lower interest rates and high refinance volumes. The company also indicated profitability improvements in its insurance segment after integrating Kilpatrick Life Insurance Company, despite increased death claims due to COVID-19. Net earnings per share was $1.10, up from $0.19 in the prior year.

Security National Financial Corporation (NASDAQ-SNFCA) announced a significant lease expansion by Finicity Corporation to 43,598 square feet at Center 53 Development in Murray, Utah. This expansion positions Finicity as the largest tenant in the Center, which has now achieved 93% occupancy following its certificate of occupancy in 2017. Finicity, a leader in financial data-sharing services, is set to be acquired by Mastercard for $825 million, marking a notable milestone for both companies.

Security National Financial Corporation (SNFCA) has been included in the Russell 3000 Index effective June 29, 2020. This inclusion, determined by market capitalization rankings, signifies a milestone in the company's growth and stability as it aims to provide strong returns for investors. The Russell 3000 comprises the 4,000 largest U.S. stocks, and membership offers visibility among investment managers, with around $9 trillion in assets benchmarked against these indexes. SNFCA operates in insurance, cemetery, mortuary, and loan underwriting sectors, enhancing its financial stability.

Security National Financial Corporation (NASDAQ-SNFCA) announced two significant leases totaling approximately 28,000 square feet in its Center 53 development in Murray, Utah. With these agreements, the building's occupancy rate is now at 87%. EduVision, operating under the Arizona College of Nursing, has leased nearly 22,000 square feet to offer courses in Utah, benefiting from the location's accessibility. Wilner and O’Reiley, specializing in immigration law, will occupy about 5,700 square feet. CEO Scott Quist expressed optimism regarding the development even during the ongoing Covid-19 pandemic.