State Auto Financial (STFC) Downgraded by BidaskClub

BidaskClub downgraded shares of State Auto Financial (NASDAQ:STFC) from a buy rating to a hold rating in a report released on Friday.

Separately, Zacks Investment Research raised State Auto Financial from a sell rating to a hold rating in a report on Wednesday, November 15th. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. The company presently has a consensus rating of Hold and an average target price of $26.00.

Shares of State Auto Financial (STFC) traded up $0.98 on Friday, hitting $28.98. The company had a trading volume of 138,300 shares, compared to its average volume of 59,600. State Auto Financial has a one year low of $22.11 and a one year high of $30.85. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $1,224.88, a price-to-earnings ratio of 44.59 and a beta of 0.85.

State Auto Financial (NASDAQ:STFC) last released its quarterly earnings results on Thursday, November 2nd. The insurance provider reported ($0.54) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.46) by ($0.08). State Auto Financial 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 the consensus estimate of $342.70 million. During the same period in the prior year, the firm posted $0.10 EPS. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. research analysts anticipate that State Auto Financial will post -0.32 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 8th were given a $0.10 dividend. The ex-dividend date was Thursday, December 7th. This represents a $0.40 annualized dividend and a dividend yield of 1.38%. State Auto Financial’s payout ratio is 61.54%.

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

Institutional investors have recently made changes to their positions in the company. Great West Life Assurance Co. Can purchased a new stake in shares of State Auto Financial in the second quarter worth about $126,000. Schwab Charles Investment Management Inc. lifted its position in shares of State Auto Financial by 0.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 60,082 shares of the insurance provider’s stock worth $1,546,000 after buying an additional 323 shares in the last quarter. First Trust Advisors LP purchased a new stake in shares of State Auto Financial in the second quarter worth about $389,000. Rhumbline Advisers lifted its position in shares of State Auto Financial by 1.8% in the second quarter. Rhumbline Advisers now owns 25,436 shares of the insurance provider’s stock worth $654,000 after buying an additional 445 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of State Auto Financial by 0.9% in the second quarter. Bank of New York Mellon Corp now owns 113,907 shares of the insurance provider’s stock worth $2,931,000 after buying an additional 1,015 shares in the last quarter. Institutional investors and hedge funds own 33.10% of the company’s stock.

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About State Auto Financial

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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