Trade Report: The State Auto Financial Corp. (STFC) Rating Lowered to Strong Sell at Zacks Investment Research

The State Auto Financial Corp. (STFC) Rating Lowered to Strong Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of State Auto Financial Corp. (NASDAQ:STFC) from a hold rating to a strong sell rating in a report published on Saturday morning.

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 raised State Auto Financial Corp. from a hold rating to a buy rating in a research report on Tuesday, July 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. State Auto Financial Corp. currently has a consensus rating of Hold and a consensus target price of $26.00.

Shares of State Auto Financial Corp. (NASDAQ:STFC) opened at 23.18 on Friday. The firm has a market capitalization of $966.05 million, a price-to-earnings ratio of 437.36 and a beta of 0.70. The stock has a 50 day moving average price of $23.33 and a 200-day moving average price of $22.04. State Auto Financial Corp. has a 52 week low of $17.84 and a 52 week high of $25.69.

State Auto Financial Corp. (NASDAQ:STFC) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.51. State Auto Financial Corp. had a negative return on equity of 1.42% and a net margin of 0.16%. The company earned $345.60 million during the quarter, compared to analysts’ expectations of $332.60 million. During the same period last year, the firm earned $0.06 EPS. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, analysts anticipate that State Auto Financial Corp. will post $0.17 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Wednesday, September 14th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend was Monday, September 12th. State Auto Financial Corp.’s dividend payout ratio (DPR) is 800.00%.

In other State Auto Financial Corp. news, insider Kim Burton Garland bought 6,356 shares of the business’s stock in a transaction dated Friday, September 2nd. The stock was acquired at an average cost of $23.63 per share, with a total value of $150,192.28. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.56% of the company’s stock.

Several institutional investors have recently modified their holdings of STFC. Park National Corp OH increased its position in shares of State Auto Financial Corp. by 24.8% in the third quarter. Park National Corp OH now owns 12,197 shares of the company’s stock worth $290,000 after buying an additional 2,427 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of State Auto Financial Corp. by 1.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 51,922 shares of the company’s stock worth $1,138,000 after buying an additional 714 shares during the period. Croft Leominster Inc. increased its position in shares of State Auto Financial Corp. by 25.0% in the second quarter. Croft Leominster Inc. now owns 20,000 shares of the company’s stock worth $438,000 after buying an additional 4,000 shares during the period. American International Group Inc. increased its position in shares of State Auto Financial Corp. by 0.8% in the second quarter. American International Group Inc. now owns 8,902 shares of the company’s stock worth $195,000 after buying an additional 74 shares during the period. Finally, Alliancebernstein L.P. increased its position in shares of State Auto Financial Corp. by 49.0% in the second quarter. Alliancebernstein L.P. now owns 439,949 shares of the company’s stock worth $9,639,000 after buying an additional 144,762 shares during the period. 30.34% of the stock is owned by institutional investors and hedge funds.

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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