Zacks Investment Research upgraded shares of State Auto Financial Corporation (NASDAQ:STFC) from a sell rating to a hold rating in a research note issued to investors on Tuesday.
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. “
A number of other analysts also recently commented on STFC. TheStreet downgraded shares of State Auto Financial Corporation from a b rating to a c+ rating in a research report on Monday, May 22nd. ValuEngine upgraded shares of State Auto Financial Corporation from a sell rating to a hold rating in a research report on Friday, June 2nd. Finally, BidaskClub upgraded shares of State Auto Financial Corporation from a strong sell rating to a sell rating in a research report on Friday, June 30th. Two analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The stock currently has a consensus rating of Hold.
State Auto Financial Corporation (NASDAQ STFC) opened at 24.76 on Tuesday. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 75.03 and a beta of 0.90. State Auto Financial Corporation has a 12 month low of $19.54 and a 12 month high of $27.97. The firm’s 50-day moving average is $25.13 and its 200 day moving average is $26.12.
State Auto Financial Corporation (NASDAQ:STFC) last released its quarterly earnings results on Tuesday, May 2nd. The insurance provider reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by $0.09. State Auto Financial Corporation had a negative return on equity of 1.55% and a net margin of 0.99%. The company had revenue of $344.30 million for the quarter, compared to the consensus estimate of $346.20 million. During the same quarter last year, the firm posted $0.05 earnings per share. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. Equities analysts predict that State Auto Financial Corporation will post $0.36 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Tuesday, June 13th were given a dividend of $0.10 per share. The ex-dividend date was Friday, June 9th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.62%. State Auto Financial Corporation’s dividend payout ratio (DPR) is 125.00%.
In other State Auto Financial Corporation news, insider Jessica Elizabeth Clark sold 9,841 shares of the business’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $24.38, for a total transaction of $239,923.58. Following the sale, the insider now directly owns 12,072 shares in the company, valued at approximately $294,315.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 65,569 shares of company stock worth $1,606,555 over the last 90 days. 1.54% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP acquired a new stake in State Auto Financial Corporation during the first quarter worth approximately $8,245,000. Alliancebernstein L.P. increased its stake in State Auto Financial Corporation by 5.4% in the first quarter. Alliancebernstein L.P. now owns 434,163 shares of the insurance provider’s stock worth $11,918,000 after buying an additional 22,430 shares during the last quarter. American International Group Inc. increased its stake in State Auto Financial Corporation by 7.1% in the first quarter. American International Group Inc. now owns 9,526 shares of the insurance provider’s stock worth $261,000 after buying an additional 635 shares during the last quarter. Bank of New York Mellon Corp increased its stake in State Auto Financial Corporation by 4.1% in the first quarter. Bank of New York Mellon Corp now owns 112,892 shares of the insurance provider’s stock worth $3,099,000 after buying an additional 4,490 shares during the last quarter. Finally, Boston Partners increased its stake in State Auto Financial Corporation by 2.3% in the first quarter. Boston Partners now owns 109,266 shares of the insurance provider’s stock worth $2,999,000 after buying an additional 2,423 shares during the last quarter. Institutional investors and hedge funds own 32.35% of the company’s stock.
State Auto Financial Corporation Company Profile
State Auto Financial Corporation is a property and casualty insurance holding company. The Company is engaged in writing personal, business and specialty insurance. Its segments include Personal Insurance Segment, Commercial Insurance Segment and Specialty Insurance Segment. Its Personal Insurance Segment include personal auto, homeowners and other personal; Commercial Insurance Segment include commercial auto, small commercial package, middle market commercial, workers’ compensation and other commercial, and Specialty Insurance Segment include Excess & Surplus (E&S) property, E&S casualty and programs.
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