State Auto Financial Corporation (STFC) Rating Increased to Hold at Zacks Investment Research

State Auto Financial Corporation (NASDAQ:STFC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday.

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 research firms also recently issued reports on STFC. ValuEngine raised shares of State Auto Financial Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. TheStreet downgraded shares of State Auto Financial Corporation from a “b” rating to a “c+” rating in a research report on Monday, May 22nd. BidaskClub downgraded shares of State Auto Financial Corporation from a “sell” rating to a “strong sell” rating in a research report on Sunday, July 16th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $26.00 target price on shares of State Auto Financial Corporation in a research report on Friday, August 18th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. State Auto Financial Corporation currently has a consensus rating of “Hold” and an average target price of $26.00.

Shares of State Auto Financial Corporation (STFC) opened at 24.49 on Friday. The firm has a 50-day moving average of $24.95 and a 200 day moving average of $25.83. The stock has a market capitalization of $1.03 billion, a PE ratio of 22.08 and a beta of 0.90. State Auto Financial Corporation has a 52-week low of $19.54 and a 52-week high of $27.97.

State Auto Financial Corporation (NASDAQ:STFC) last posted its earnings results on Tuesday, August 8th. The insurance provider reported ($0.04) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.12. The firm had revenue of $339.90 million during the quarter, compared to the consensus estimate of $341.30 million. State Auto Financial Corporation had a net margin of 3.33% and a return on equity of 1.46%. The company’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.69) EPS. Equities research analysts forecast that State Auto Financial Corporation will post $0.39 EPS for the current fiscal year.

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A number of hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in State Auto Financial Corporation by 1.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,542,424 shares of the insurance provider’s stock worth $65,418,000 after buying an additional 28,779 shares during the period. Vanguard Group Inc. increased its stake in State Auto Financial Corporation by 5.8% in the second quarter. Vanguard Group Inc. now owns 1,252,287 shares of the insurance provider’s stock worth $32,222,000 after buying an additional 68,665 shares during the period. Earnest Partners LLC increased its stake in State Auto Financial Corporation by 1.4% in the second quarter. Earnest Partners LLC now owns 762,325 shares of the insurance provider’s stock worth $19,615,000 after buying an additional 10,880 shares during the period. Alliancebernstein L.P. increased its stake in State Auto Financial Corporation by 21.9% in the second quarter. Alliancebernstein L.P. now owns 529,239 shares of the insurance provider’s stock worth $13,617,000 after buying an additional 95,076 shares during the period. Finally, Deprince Race & Zollo Inc. increased its stake in State Auto Financial Corporation by 38.1% in the second quarter. Deprince Race & Zollo Inc. now owns 373,787 shares of the insurance provider’s stock worth $9,618,000 after buying an additional 103,164 shares during the period. 32.39% of the stock is owned by hedge funds and other institutional investors.

About State Auto Financial Corporation

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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