Our company was featured this week in Salt Lake Tribune article,
Utah stocks far outpace U.S. indexes.
Stockholders in most of Utah’s largest publicly held companies were probably patting themselves on the back as they watched their investments grow through the first nine months of 2012.
[pullquote]Security National Financial Corp., a Salt Lake City-based business conglomerate, saw its share price rise by 169 percent. It was Utah’s second-best performing stock through the end of the third quarter.[/pullquote]The Salt Lake Tribune/Bloomberg Index, which measures the share-price performance of the state’s 26 largest firms, gained a more than respectable 23 percent through the end of the third quarter this year.
In contrast, the Dow Jones industrial average rose 10 percent, while the Standard & Poor’s 500 was up 15 percent.
“In an upwardly moving market like we’re seeing now, it isn’t that unusual for some small-cap companies to see big price movements [in their shares],” said Sterling Jenson, regional managing director for Wells Capital Management in Salt Lake City.
Unlike the Dow and the S&P 500, the Utah index is made up primarily of small-cap companies. They all have a market capitalization — a figure calculated by multiplying the number of shares a company has outstanding by its stock price — of $1 billion or less.
Security National Financial Corp., a Salt Lake City-based business conglomerate, saw its share price rise by 169 percent. It was Utah’s second-best performing stock through the end of the third quarter.
The company operates in three different business areas. It sells life insurance, annuity products and health and accident policies. It operates cemeteries in Utah and California, and mortuaries in Utah and Arizona. It also originates and underwrites residential and commercial loans for new construction and existing homes.