State Auto Financial (STFC) Downgraded by BidaskClub

BidaskClub cut shares of State Auto Financial (NASDAQ:STFC) from a strong-buy rating to a buy rating in a research note published on Thursday morning.

Separately, Zacks Investment Research upgraded State Auto Financial from a sell rating to a hold rating in a research report on Wednesday, November 15th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $26.00.

Shares of State Auto Financial (NASDAQ STFC) opened at $28.46 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.08 and a quick ratio of 0.08. The company has a market capitalization of $1,210.00, a PE ratio of 45.17 and a beta of 0.85. State Auto Financial has a 52-week low of $22.11 and a 52-week high of $30.85.

State Auto Financial (NASDAQ:STFC) last posted its earnings results on Thursday, November 2nd. The insurance provider reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.08). The firm had revenue of $358.40 million during the quarter, compared to analysts’ expectations of $342.70 million. State Auto Financial had a negative return on equity of 1.53% and a net margin of 1.94%. State Auto Financial’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.10 earnings per share. analysts anticipate that State Auto Financial will post -0.32 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.41%. State Auto Financial’s dividend payout ratio is currently 63.49%.

In other State Auto Financial news, VP Matthew Stanley Mrozek sold 3,380 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $27.85, for a total transaction of $94,133.00. Following the sale, the vice president now directly owns 8,633 shares in the company, valued at $240,429.05. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John M. Petrucci sold 10,682 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $27.84, for a total value of $297,386.88. The disclosure for this sale can be found here. 1.54% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the business. Great West Life Assurance Co. Can purchased a new stake in State Auto Financial during the second quarter valued at approximately $126,000. Voya Investment Management LLC raised its position in State Auto Financial by 21.9% during the second quarter. Voya Investment Management LLC now owns 9,076 shares of the insurance provider’s stock valued at $234,000 after purchasing an additional 1,633 shares during the period. Goldman Sachs Group Inc. purchased a new stake in State Auto Financial during the second quarter valued at approximately $237,000. The Manufacturers Life Insurance Company raised its position in State Auto Financial by 6.6% during the second quarter. The Manufacturers Life Insurance Company now owns 13,644 shares of the insurance provider’s stock valued at $351,000 after purchasing an additional 839 shares during the period. Finally, First Trust Advisors LP purchased a new stake in State Auto Financial during the second quarter valued at approximately $389,000. Institutional investors and hedge funds own 33.10% of the company’s stock.

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State Auto Financial 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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