Security National Bundle
Who Owns Security National Financial Corporation?
Security National Financial Corporation (SNFC) has a rich history dating back to its founding in 1965. Initially established as Security National Life Insurance Company, it began with modest assets and a clear vision from its founder, George Quist, to offer financial security.
As a publicly traded entity on NASDAQ (SNFCA), its ownership is distributed among various shareholders, reflecting its growth and market presence. Understanding who holds the reins is key to grasping the company's strategic direction and operational focus.
The ownership structure of Security National Financial Corporation (SNFC) is a dynamic interplay of its founding principles and its evolution as a public entity. As of December 31, 2024, the company reported total revenues of $334.5 million, a 5.0% increase year-over-year, with after-tax earnings from operations reaching $26.5 million, an impressive 83% jump from 2023. This financial performance is underpinned by its operations in life insurance, cemetery and mortuary services, and mortgage loans, a diversified portfolio that contributes to its overall valuation and investor appeal. The company's book value per common share stood at $14.45 at the close of 2024, providing a tangible measure of its intrinsic worth. For a deeper dive into its strategic positioning, one might consider analyzing its Security National BCG Matrix.
Who Founded Security National?
The ownership of Security National Company is deeply rooted in its founding by George Quist in 1965. Quist, a seasoned entrepreneur with prior ventures in oil refining and early credit card companies, established Security National Life Insurance Company. His vision extended to creating interconnected business segments designed to enhance overall profitability through horizontal integration.
Founder's Vision
George Quist founded Security National Life Insurance Company in 1965. His entrepreneurial background included establishing Husky Oil Refineries and an early credit card company.
Early Operations
The company began with initial assets of $543,000. Operations commenced from a small rented house in Salt Lake City, Utah.
Insurance Industry Experience
Quist was instrumental in establishing Commercial Underwriters to facilitate capital raising for new life insurance companies. He also founded Hawaii's first domestic life insurance company, Pacific Guardian Life.
Corporate Structure Philosophy
The company's structure was conceived with interconnected segments. This design aimed to improve overall profitability through a strategy of horizontal integration.
Initial Capitalization Details
Specifics regarding the initial equity split or early investors, such as angel investors or friends and family, are not detailed in the available information.
Quist's Leadership Role
George Quist's leadership was pivotal in laying the groundwork for the financial corporation's future success. His influence shaped the foundational strategy of the enterprise.
While George Quist was the founder, detailed information on the initial ownership structure, including specific equity allocations to early backers or angel investors, is not publicly available. Quist's extensive experience in the insurance sector, including his role in establishing Commercial Underwriters and founding Pacific Guardian Life, provided a strong foundation for Security National. Understanding the Target Market of Security National is key to appreciating the strategic decisions made during its early development and ownership phases.
Founding and Early Growth
Security National Financial Corporation's origins are tied to George Quist's establishment of Security National Life Insurance Company in 1965. The company commenced operations with a modest $543,000 in assets.
- Founded in 1965 by George Quist.
- Initial assets were $543,000.
- Operations began in Salt Lake City, Utah.
- Quist had prior experience in oil and credit card industries.
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How Has Security National’s Ownership Changed Over Time?
Security National Financial Corporation (SNFCA) has evolved into a publicly traded entity, with its ownership reflecting a diverse base of investors. The company's strategic growth, marked by acquisitions in the life insurance, funeral home, and cemetery sectors, alongside mortgage operations expansion, has shaped its current shareholder landscape.
| Shareholder Type | Percentage of Ownership | As of Date |
|---|---|---|
| Institutional Investors | 46.80% | Latest available data |
| Public Companies & Individual Investors | 49.74% | Latest available data |
| Insiders | 3.47% | Latest available data |
The ownership structure of Security National Company is a blend of institutional, retail, and individual investors, with institutional holders commanding a significant portion. As of recent reports, approximately 46.80% of SNFCA's stock is held by institutional investors, while public companies and individual investors collectively own about 49.74%. Insiders hold a smaller stake of 3.47%. The company operates with two classes of common stock, Class A and Class C, with a total of 23,451,432 Class A equivalent shares outstanding as of December 31, 2024, and 23,601,718 as of March 31, 2025. Understanding who owns Security National Company involves looking at both large investment firms and significant individual holdings that influence its direction.
Key Stakeholders in Security National Company
Several key entities and individuals hold substantial stakes in Security National Financial Corporation, indicating concentrated ownership among specific groups.
- Institutional Investors: Goldman Sachs Group Inc. (0.380% ownership) and Acadian Asset Management LLC (58,081 shares) are notable institutional shareholders as of June 27, 2025. Other significant institutional holders as of March 30, 2025, include Dimensional Fund Advisors LP, The Vanguard Group, Inc., and Columbia Management Investment Advisers, LLC.
- Individual and Family Ownership: The Security National Financial ESOP holds 11.47%, Soltis Investment Advisors, LLC holds 10.87%, and the George R. Quist & Shirley C. Quist Family Partnership, Ltd. holds 8.86% as of March 30, 2025. M3F, Inc. (8.54%) and the Scott M. And Lisa J. Quist Family Trust (6.51%) are also substantial shareholders.
- Top Shareholders: Prominent names among top shareholders include William C. Waller, Vanguard, and DFA Investment Dimensions Group Inc., reflecting a broad base of investor confidence.
- Family Influence: The significant holdings by the Quist family and associated entities suggest a continued influence on the company's strategic decisions and governance, a key aspect of Security National Company's corporate structure.
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Who Sits on Security National’s Board?
The Board of Directors for Security National Financial Corporation is comprised of individuals who guide the company’s strategic direction and governance. Key members include Scott M. Quist, serving as Chairman of the Board and Executive Committee, and H. Craig Moody, who chairs the Nominating and Corporate Governance and Compensation Committees. Other directors are Robert G. Hunter M.D., Gilbert A. Fuller (Chairman of the Audit Committee), John L. Cook, S. Andrew Quist, Jason G. Overbaugh, Mia B. Love, Alexandra Mysoor, and Adam G. Quist.
| Director Name | Committee Chairmanships |
|---|---|
| Scott M. Quist | Chairman of the Board and Executive Committee |
| H. Craig Moody | Chairman of Nominating and Corporate Governance and Compensation Committees |
| Gilbert A. Fuller | Chairman of the Audit Committee |
| Robert G. Hunter M.D. | |
| John L. Cook | |
| S. Andrew Quist | |
| Jason G. Overbaugh | |
| Mia B. Love | |
| Alexandra Mysoor | |
| Adam G. Quist |
The voting power within Security National Financial Corporation is significantly influenced by its dual-class share structure, which includes Class A and Class C common stock. Class A stockholders are granted one vote per share, while Class C stockholders hold ten votes per share. This differential voting right concentrates control among holders of Class C shares, often founders and insiders, which is a key aspect of Security National Company ownership. The Quist family, including Scott M. Quist, S. Andrew Quist, and Adam G. Quist, holds board positions, underscoring their continued influence, a detail also touched upon in the Brief History of Security National.
Understanding Voting Power Dynamics
The company's corporate structure, with its dual-class shares, creates a distinct distribution of voting power among Security National Company stakeholders. This structure directly impacts how decisions are made and who holds the ultimate control.
- Class A common stock: 1 vote per share
- Class C common stock: 10 votes per share
- Concentrated control often resides with Class C shareholders.
- Board elections reflect this voting imbalance.
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What Recent Changes Have Shaped Security National’s Ownership Landscape?
In the past few years, Security National Financial Corporation has seen notable shifts in its financial performance and ownership trends. The company's strategic adjustments and growth initiatives reflect a dynamic approach to its market position. Understanding who owns Security National Company involves looking at recent insider trading and institutional investor activity.
| Financial Metric | 2024 | 2023 |
| After-Tax Earnings from Operations | $26,536,000 | $14,500,000 (approx.) |
| Revenues | $334,523,000 | $318,593,333 (approx.) |
| Net Earnings Per Common Share | $1.11 | $0.61 |
Recent developments highlight the company's ongoing efforts to enhance shareholder value and expand its market presence. These include consistent dividend payouts and strategic index inclusions, alongside shifts in institutional holdings that can influence the Security National Company structure.
Financial Performance Highlights
For the year ended December 31, 2024, after-tax earnings from operations surged by 83% to $26,536,000, with revenues increasing by 5% to $334,523,000. This robust performance underscores the company's operational strength and strategic execution.
Segment Performance
The mortgage segment improved significantly, reducing its loss by over 64% while increasing revenue by more than 8% in 2024. The insurance and death care segments also reported strong Q1 2025 results, indicating broad-based operational health.
Ownership and Shareholder Actions
Security National Financial Corporation announced a 5% stock dividend on June 30, 2025, marking the 37th consecutive year of such distributions. The company also joined the Russell 3000 Index on June 27, 2025, signaling increased market visibility.
Insider and Institutional Activity
Insider trading includes Gilbert Fuller selling 460 shares in early 2025. Institutional investors showed activity with Millennium Management LLC increasing its stake by 117.8% and LHM, Inc. reducing its holdings by 9.6% in Q1 2025, reflecting evolving Security National Company ownership trends.
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