State Auto Financial Corporation (STFC) Raised to Hold at Zacks Investment Research
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 Wednesday.
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. “
Other research analysts also recently issued reports about the stock. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $26.00 price objective on shares of State Auto Financial Corporation in a research report on Friday, August 18th. ValuEngine raised shares of State Auto Financial Corporation from a sell rating to a hold rating in a research report on Friday, August 11th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. The stock presently has an average rating of Hold and a consensus target price of $26.00.
State Auto Financial Corporation (STFC) traded up $0.39 during trading on Wednesday, hitting $26.65. 31,576 shares of the stock traded hands, compared to its average volume of 26,344. State Auto Financial Corporation has a 1-year low of $22.11 and a 1-year high of $27.97. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.14.
State Auto Financial Corporation (NASDAQ:STFC) last announced its quarterly earnings data on Thursday, November 2nd. The insurance provider reported ($0.54) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.46) by ($0.08). State Auto Financial Corporation had a net margin of 1.94% and a negative return on equity of 1.53%. The company had revenue of $358.40 million for the quarter, compared to analysts’ expectations of $342.70 million. During the same period in the previous year, the firm posted $0.10 earnings per share. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. equities research analysts predict that State Auto Financial Corporation will post -0.32 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date is Thursday, December 7th. State Auto Financial Corporation’s payout ratio is presently 63.49%.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Great West Life Assurance Co. Can acquired a new stake in State Auto Financial Corporation in the second quarter valued at approximately $126,000. Voya Investment Management LLC lifted its stake in State Auto Financial Corporation by 21.9% in the second quarter. Voya Investment Management LLC now owns 9,076 shares of the insurance provider’s stock valued at $234,000 after acquiring an additional 1,633 shares during the last quarter. Goldman Sachs Group Inc. acquired a new stake in State Auto Financial Corporation in the second quarter valued at approximately $237,000. American International Group Inc. lifted 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 valued at $261,000 after acquiring an additional 635 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in State Auto Financial Corporation by 6.6% in the second quarter. The Manufacturers Life Insurance Company now owns 13,644 shares of the insurance provider’s stock valued at $351,000 after acquiring an additional 839 shares during the last quarter. 32.92% of the stock is currently owned by hedge funds and other institutional investors.
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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