State Auto Financial (NASDAQ:STFC) announced its earnings results on Tuesday, February 20th. The insurance provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.07), Morningstar.com reports. The firm had revenue of $362.90 million for the quarter, compared to analyst estimates of $289.70 million. State Auto Financial had a negative return on equity of 1.85% and a negative net margin of 0.75%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the business earned $0.46 EPS.
Shares of State Auto Financial (NASDAQ STFC) traded down $0.23 during midday trading on Wednesday, hitting $29.48. 32,523 shares of the stock traded hands, compared to its average volume of 38,118. The company has a market cap of $1,250.00, a price-to-earnings ratio of 49.13 and a beta of 0.89. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.14. State Auto Financial has a one year low of $22.11 and a one year high of $30.85.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Tuesday, March 13th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.36%. The ex-dividend date is Monday, March 12th. State Auto Financial’s payout ratio is presently 66.67%.
Several equities research analysts have weighed in on STFC shares. BidaskClub upgraded shares of State Auto Financial from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 7th. Zacks Investment Research cut shares of State Auto Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $29.50.
In other news, insider Melissa A. Centers sold 1,067 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $27.62, for a total value of $29,470.54. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kim Burton Garland bought 9,000 shares of State Auto Financial stock in a transaction dated Tuesday, March 6th. The stock was acquired at an average cost of $28.47 per share, for a total transaction of $256,230.00. The disclosure for this purchase can be found here. Insiders sold a total of 12,691 shares of company stock worth $352,777 in the last ninety days. Insiders own 1.54% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in STFC. Schwab Charles Investment Management Inc. boosted its stake in State Auto Financial by 0.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 60,082 shares of the insurance provider’s stock worth $1,546,000 after acquiring an additional 323 shares during the last quarter. Teachers Advisors LLC boosted its stake in State Auto Financial by 14.2% during the 2nd quarter. Teachers Advisors LLC now owns 28,213 shares of the insurance provider’s stock worth $726,000 after acquiring an additional 3,503 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in State Auto Financial by 4.8% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 42,270 shares of the insurance provider’s stock worth $1,088,000 after acquiring an additional 1,948 shares during the last quarter. Northern Trust Corp boosted its stake in State Auto Financial by 6.7% during the 2nd quarter. Northern Trust Corp now owns 221,063 shares of the insurance provider’s stock worth $5,687,000 after acquiring an additional 13,864 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in State Auto Financial by 5.8% during the 2nd quarter. Vanguard Group Inc. now owns 1,252,287 shares of the insurance provider’s stock worth $32,222,000 after acquiring an additional 68,665 shares during the last quarter. 34.67% of the stock is currently owned by institutional investors and hedge funds.
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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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