State Auto Financial Corp. (NASDAQ:STFC) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Thursday.
According to Zacks, “State Auto Financial Corporation is an insurance holding company, which engages, through its subsidiaries, primarily in the property and casualty insurance business. The company’s principal subsidiary is State Auto Property and Casualty Insurance Company. State Auto P&C is a regional insurer engaged primarily in writing personal and commercial automobile, homeowners, commercial multi-peril, workers’ compensation and fire insurance. “
Separately, TheStreet upgraded shares of State Auto Financial Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, July 19th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $26.00.
State Auto Financial Corp. (NASDAQ:STFC) opened at 22.74 on Thursday. State Auto Financial Corp. has a 52 week low of $17.84 and a 52 week high of $25.69. The firm has a 50-day moving average of $23.29 and a 200-day moving average of $22.01. The company has a market capitalization of $947.71 million, a P/E ratio of 429.06 and a beta of 0.70.
State Auto Financial Corp. (NASDAQ:STFC) last announced its earnings results on Thursday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.51. State Auto Financial Corp. had a net margin of 0.16% and a negative return on equity of 1.42%. The business had revenue of $345.60 million for the quarter, compared to analyst estimates of $332.60 million. During the same quarter last year, the business earned $0.06 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. Analysts anticipate that State Auto Financial Corp. will post $0.17 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Wednesday, September 14th were given a dividend of $0.10 per share. The ex-dividend date was Monday, September 12th. This represents a $0.40 dividend on an annualized basis and a yield of 1.76%. State Auto Financial Corp.’s payout ratio is presently 800.00%.
In other State Auto Financial Corp. news, insider Kim Burton Garland purchased 6,356 shares of the stock in a transaction that occurred on Friday, September 2nd. The shares were purchased at an average cost of $23.63 per share, for a total transaction of $150,192.28. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.56% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. Boston Partners acquired a new position in State Auto Financial Corp. during the second quarter worth $2,299,000. Geode Capital Management LLC increased its position in shares of State Auto Financial Corp. by 1.5% in the first quarter. Geode Capital Management LLC now owns 116,087 shares of the company’s stock worth $2,560,000 after buying an additional 1,699 shares during the period. Prudential Financial Inc. increased its position in shares of State Auto Financial Corp. by 1.2% in the first quarter. Prudential Financial Inc. now owns 112,069 shares of the company’s stock worth $2,472,000 after buying an additional 1,300 shares during the period. Strs Ohio increased its position in shares of State Auto Financial Corp. by 8.5% in the second quarter. Strs Ohio now owns 25,600 shares of the company’s stock worth $560,000 after buying an additional 2,000 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of State Auto Financial Corp. by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 124,000 shares of the company’s stock worth $2,717,000 after buying an additional 2,497 shares during the period. Hedge funds and other institutional investors own 30.34% of the company’s stock.
State Auto Financial Corp. Company Profile
State Auto Financial Corporation (State Auto Financial) is a property and casualty insurance holding company. The Company is engaged in writing personal, business and specialty insurance. Its segments include personal insurance, business insurance, specialty insurance and investment operations. Its personal insurance, business insurance and specialty insurance are known as insurance segments of the Company.
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