State Auto Financial Corporation (STFC) Upgraded to Hold by 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 report issued 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 equities analysts have also issued research reports about the stock. BidaskClub upgraded shares of State Auto Financial Corporation from a strong sell rating to a sell rating in a report on Friday, June 30th. Keefe, Bruyette & Woods reiterated a hold rating and issued a $26.00 price objective on shares of State Auto Financial Corporation in a report on Friday, August 18th. ValuEngine upgraded shares of State Auto Financial Corporation from a sell rating to a hold rating in a report on Friday, June 2nd. Finally, TheStreet lowered shares of State Auto Financial Corporation from a b rating to a c+ rating in a report on Monday, May 22nd. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The company has an average rating of Hold and a consensus target price of $26.00.

State Auto Financial Corporation (NASDAQ:STFC) traded up 0.221% during mid-day trading on Wednesday, reaching $24.955. The company’s stock had a trading volume of 15,065 shares. The stock’s 50 day moving average price is $24.73 and its 200 day moving average price is $25.69. The stock has a market capitalization of $1.05 billion, a P/E ratio of 22.502 and a beta of 0.90. State Auto Financial Corporation has a 1-year low of $19.54 and a 1-year high of $27.97.

State Auto Financial Corporation (NASDAQ:STFC) last announced its quarterly earnings results on Tuesday, August 8th. The insurance provider reported ($0.04) earnings per share 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 analysts’ expectations of $341.30 million. During the same period in the prior year, the company earned ($0.69) EPS. The firm’s revenue was up 2.1% on a year-over-year basis. Analysts expect that State Auto Financial Corporation will post $0.35 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “State Auto Financial Corporation (STFC) Upgraded to Hold by Zacks Investment Research” was first reported by Chaffey Breeze and is owned by of Chaffey Breeze. If you are reading this news story on another site, it was copied illegally and republished in violation of United States & international copyright and trademark law. The correct version of this news story can be viewed at https://www.chaffeybreeze.com/2017/09/14/state-auto-financial-corporation-stfc-upgraded-to-hold-by-zacks-investment-research.html.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Wednesday, September 13th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, September 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.60%. State Auto Financial Corporation’s dividend payout ratio (DPR) is presently 35.71%.

Several institutional investors have recently modified their holdings of the company. Oppenheimer Asset Management Inc. raised its stake in shares of State Auto Financial Corporation by 1.1% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,663 shares of the insurance provider’s stock valued at $403,000 after purchasing an additional 173 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of State Auto Financial Corporation by 0.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 60,082 shares of the insurance provider’s stock valued at $1,546,000 after buying an additional 323 shares during the last quarter. Nationwide Fund Advisors grew its position in shares of State Auto Financial Corporation by 3.1% during the 1st quarter. Nationwide Fund Advisors now owns 14,509 shares of the insurance provider’s stock valued at $398,000 after buying an additional 435 shares during the last quarter. Rhumbline Advisers grew its position in shares of State Auto Financial Corporation by 1.8% during the 2nd quarter. Rhumbline Advisers now owns 25,436 shares of the insurance provider’s stock valued at $654,000 after buying an additional 445 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of State Auto Financial Corporation by 0.6% during the 1st quarter. Wells Fargo & Company MN now owns 103,058 shares of the insurance provider’s stock valued at $2,829,000 after buying an additional 594 shares during the last quarter. Institutional investors and hedge funds own 32.85% of the company’s stock.

About State Auto Financial Corporation

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.

Receive News & Ratings for State Auto Financial Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for State Auto Financial Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply