State Auto Financial Corporation (STFC) Lifted 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 to investors on Wednesday, September 13th.

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 equities research analysts also recently issued research reports about the stock. 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. ValuEngine upgraded State Auto Financial Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. TheStreet lowered State Auto Financial Corporation from a “b” rating to a “c+” rating in a report on Monday, May 22nd. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $26.00 price target on shares of State Auto Financial Corporation in a 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 an average rating of “Hold” and a consensus target price of $26.00.

Shares of State Auto Financial Corporation (NASDAQ STFC) traded down 1.13% during trading on Wednesday, hitting $26.23. 30,558 shares of the stock were exchanged. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 23.65 and a beta of 0.90. The firm has a 50 day moving average of $24.64 and a 200-day moving average of $25.61. State Auto Financial Corporation has a 12-month low of $19.54 and a 12-month high of $27.97.

State Auto Financial Corporation (NASDAQ:STFC) last released its quarterly earnings data on Tuesday, August 8th. The insurance provider reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.12. State Auto Financial Corporation had a net margin of 3.33% and a return on equity of 1.46%. The firm had revenue of $339.90 million during the quarter, compared to the consensus estimate of $341.30 million. During the same quarter in the previous year, the company posted ($0.69) earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. On average, analysts forecast that State Auto Financial Corporation will post $0.35 earnings per share for the current year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Nationwide Fund Advisors increased its stake in shares of State Auto Financial Corporation by 3.1% in the first quarter. Nationwide Fund Advisors now owns 14,509 shares of the insurance provider’s stock valued at $398,000 after purchasing an additional 435 shares during the period. Wells Fargo & Company MN boosted its position in shares of State Auto Financial Corporation by 0.6% during the first quarter. Wells Fargo & Company MN now owns 103,058 shares of the insurance provider’s stock worth $2,829,000 after buying an additional 594 shares during the period. Boston Partners boosted its position in shares of State Auto Financial Corporation by 2.3% during the first quarter. Boston Partners now owns 109,266 shares of the insurance provider’s stock worth $2,999,000 after buying an additional 2,423 shares during the period. Bank of New York Mellon Corp grew its holdings in State Auto Financial Corporation by 4.1% in the 1st quarter. Bank of New York Mellon Corp now owns 112,892 shares of the insurance provider’s stock worth $3,099,000 after buying an additional 4,490 shares in the last quarter. Finally, American International Group Inc. grew its holdings in State Auto Financial Corporation by 7.1% in the 1st quarter. American International Group Inc. now owns 9,526 shares of the insurance provider’s stock worth $261,000 after buying an additional 635 shares in the last quarter. Hedge funds and other institutional investors own 32.85% of the company’s stock.

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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