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Security National Financial Corporation  (SNFCA)
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Price: $6.5500 $-0.03 -0.456%
Day's High: $6.705 Week Perf: -1.21 %
Day's Low: $ 6.53 30 Day Perf: -18.84 %
Volume (M): 12 52 Wk High: $ 9.75
Volume (M$): $ 77 52 Wk Avg: $8.03
Open: $6.71 52 Wk Low: $6.52



 Market Capitalization (Millions $) 148
 Shares Outstanding (Millions) 23
 Employees 1,271
 Revenues (TTM) (Millions $) 319
 Net Income (TTM) (Millions $) 15
 Cash Flow (TTM) (Millions $) 6
 Capital Exp. (TTM) (Millions $) 1

Security National Financial Corporation

Security National Financial Corporation operates in three main business segments: life insurance, cemetery and mortuary, and mortgage loans. The life insurance segment is engaged in the business of selling and servicing selected lines of life insurance, annuity products, and accident and health insurance. These products are marketed in 38 states through a commissioned sales force of independent licensed insurance agents who may also sell insurance products of other companies. The cemetery and mortuary segment consists of seven mortuaries and five cemeteries in the state of Utah and one cemetery in the state of California. The Company also engages in pre-need selling of funeral, cemetery, mortuary and cremation services through its Utah and California operations. Many of the insurance agents also sell pre-need funeral, cemetery and cremation services. The mortgage loan segment originates and underwrites or otherwise purchases residential and commercial loans for new construction, existing homes and real estate projects. The mortgage loan segment operates through 121 wholesale and retail offices in 23 states, and is an approved mortgage lender in several other states.

The Companys design and structure are that each business segment is related to the other business segments and contributes to the profitability of the other segments. The Companys cemetery and mortuary segment provides a level of public awareness that assists in the sales and marketing of insurance and pre-need cemetery and funeral products. The Companys insurance segment invests their assets (including, in part, pre-paid funeral products and services) in investments authorized by the respective insurance departments of their states of domicile. The Company also pursues growth through acquisitions. The Companys mortgage segment provides mortgage loans and real estate investment opportunities.

The Company was organized as a holding company in 1979, when Security National Life Insurance Company ("Security National Life") became a wholly owned subsidiary of the Company and the former stockholders of Security National Life became stockholders of the Company. Security National Life was formed in 1965 and has acquired or purchased significant blocks of business which include Capital Investors Life Insurance Company (1994), Civil Service Employees Life Insurance Company (1995), Southern Security Life Insurance Company (1998), Menlo Life Insurance Company (1999), Acadian Life Insurance Company (2002), Paramount Security Life Insurance Company (2004), Memorial Insurance Company of America (2005), Capital Reserve Life Insurance Company (2007), Southern Security Life Insurance Company, Inc. (2008), North America Life Insurance Company (2011, 2015), Trans-Western Life Insurance Company (2012), Mothe Life Insurance Company (2012), DLE Life Insurance Company (2012) and American Republic Insurance Company (2015).

The cemetery and mortuary operations have also grown through the acquisition of other cemetery and mortuary companies. The cemetery and mortuary companies that the Company has acquired are Holladay Memorial Park, Inc. (1991), Cottonwood Mortuary, Inc. (1991) and Deseret Memorial, Inc. (1991).

In 1993, the Company formed SecurityNational Mortgage Company ("SecurityNational Mortgage") to originate and refinance residential mortgage loans. In 2012, the Company formed Green Street Mortgage Services, Inc. ("Green Street Mortgage") also to originate and refinance residential mortgage loans. Green Street Mortgage ceased its operations on March 31, 2015, but has elected to maintain several licenses and approvals.

The Company, through Security National Life, issues and distributes selected lines of life insurance and annuities. The Companys life insurance business includes funeral plans and interest-sensitive life insurance, as well as other traditional life, accident and health insurance products. The Company places specific marketing emphasis on funeral plans through pre-need planning. The Companys other insurance subsidiaries, Memorial Insurance Company of America ("Memorial Insurance Company"), Southern Security Life Insurance Company, Inc. ("Southern Security") and Trans-Western Life Insurance Company ("Trans-Western"), service and maintain policies that were purchased prior to their acquisition by Security National Life.

The Companys annuity business includes single premium deferred annuities, flexible premium deferred annuities and immediate annuities. A single premium deferred annuity is a contract where the individual remits a sum of money to the Company, which is retained on deposit until such time as the individual may wish to annuitize or surrender the contract for cash. A flexible premium deferred annuity gives the contract holder the right to make premium payments of varying amounts or to make no further premium payments after his initial payment. These single and flexible premium deferred annuities can have initial surrender charges. The surrender charges act as a deterrent to individuals who may wish to prematurely surrender their annuity contracts. An immediate annuity is a contract in which the individual remits a sum of money to the Company in return for the Companys obligation to pay a series of payments on a periodic basis over a designated period of time, such as an individuals life, or for such other period as may be designated.

With the acquisition of Capital Investors in 1994, the Company acquired a small block of accident and health policies. Since 1999, the Company has offered a low-cost comprehensive divers accident policy that provides worldwide coverage for medical expense reimbursement in the event of a diving accident.

The primary purpose of reinsurance is to enable an insurance company to issue an insurance policy in an amount larger than the risk the Company is willing to assume for itself. The Company remains obligated for the amounts reinsured (ceded) in the event the reinsurers do not meet their obligations.

Through its cemetery and mortuary operations, the Company markets a variety of products and services both on a pre-need basis (prior to death) and an at-need basis (at the time of death). The products include: plots, interment vaults, mausoleum crypts, markers, caskets, flowers and other death care related products. These services include: professional services of funeral directors, opening and closing of graves, use of chapels and viewing rooms, and use of automobiles and clothing. The Company has a mortuary at each of its cemeteries, other than Holladay Memorial Park and Singing Hills Memorial Park, and has three separate stand-alone mortuary facilities.

The Company, through its wholly owned subsidiary, SecurityNational Mortgage is active in the residential real estate market. SecurityNational Mortgage is approved by the U.S. Department of Housing and Urban Development (HUD), the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), and other secondary market investors, to originate a variety of residential mortgage loan products, which are subsequently sold to investors. The Company uses internal and external funding sources to fund mortgage loans. Green Street Mortgage ceased its operations on March 31, 2015. The Company has elected to maintain several licenses and approvals that would allow Green Street Mortgage to resume originating mortgage loans.



   Company Address: 433 West Ascension Way Salt Lake City 84123 UT
   Company Phone Number: 264-1060   Stock Exchange / Ticker: NASDAQ SNFCA
   


Customers Net Income fell by SNFCA's Customers Net Profit Margin fell to

-47.37 %

3.12 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

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• View Complete Report
   



Security National Financial Corporation

Security National Financial Corporation Faces Revenue Decline, But Provisions on Income Taxes Offer Support

Security National Financial Corporation (SNFC) has experienced a significant decline in revenue, resulting in a negative impact on profitability. In the fiscal year ending on December 31, 2023, the company reported a revenue contraction of -30.757%, causing a deterioration in profitability by -87.27%. Earnings stood at $74.91 million in revenue, compared to $108.18 million the previous year, resulting in earnings per share (EPS) of $0.11, down from $0.90 in the preceding year.
This decline in revenue was in contrast to the rest of the Miscellaneous Financial Services sector, which recorded a revenue gain in the fourth quarter of 2023. However, compared to the third quarter, SNFC's revenue decreased by -6.646% from $80.24 million. Additionally, income decreased by -36.22% from $0.18 per share.

Security National Financial Corporation

Security National Financial Corporation Reports Positive Earnings in Q3 2023 Despite Decreased Income and Revenue

Security National Financial Corporation (SNFC) announced its financial results for the quarter ended September 30, 2023. The company reported positive earnings of $0.18 per share, compared to a loss of $0.11 per share in the previous year. However, there was a decrease in income by -35.71% from the preceding reporting period.
The company's revenue also contracted by -3.876% to $80.24 million from $83.48 million in the same reporting period a year ago. Sequentially, the revenue decreased by -4.299% from $83.85 million. Despite these figures, Security National Financial Corporation saw an improvement in its net margin, which increased to 5.04% in the fiscal interval closing September 30, 2023, compared to 6.43% for its operating margin.

Security National Financial Corporation

Security National Financial Corporation Witnesses an Eventful and Demanding Three Months, Marking Significant Strides in the Most Recent Fiscal Period



As an avid investor and financial enthusiast, I have been closely monitoring the recent financial performance of Security National Financial Corporation. The company's recent figures have yielded interesting results, highlighting both positive and negative aspects. Let's delve into the recent financial results and evaluate the stock's performance in the market.
Financial Analysis:
Adjusted for the most recent fiscal period, Security National Financial Corporation showcased impressive growth. Despite a decline in revenue by 12.264% to $83.85 million, the company demonstrated a notable increase in earnings per share (EPS), which soared by 75% to $0.28 per share. This growth reflected a significant improvement from the previous quarter, where EPS surged by 366.67% to $0.06 per share.

Security National Financial Corporation

Security National Financial Corporation Faces Tumultuous Fiscal Period Ending March 31, 2023, as Revenue and Earnings Plunge

As a journalist, it is my responsibility to translate complex financial jargon and interpret the meaning behind the numbers. Based on the latest financial results for the fiscal period ending March 31, 2023, Security National Financial Corporation has experienced a significant decline in revenue and earnings.
The company's revenue has plummeted by 28.876% to $79.50 million, compared to $111.78 million a year prior. This has resulted in a deterioration of earnings by 75.48%, as the company's earnings per share decreased from $0.24 to $0.06 per share.






 

Security National Financial's Segments
 
 
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  Company Estimates  
  Revenue Outlook
Security National Financial does not provide revenue guidance.

Earnings Outlook
Security National Financial Corporation does not provide earnings estimates.

 
Geographic Revenue Dispersion




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