State Auto Financial (NASDAQ:STFC) posted its quarterly earnings data on Tuesday. The insurance provider reported $0.40 earnings per share for the quarter, missing the consensus estimate 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 1.53% and a net margin of 1.94%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the company earned $0.46 earnings per share.
State Auto Financial (NASDAQ STFC) traded down $1.28 during mid-day trading on Wednesday, hitting $27.94. The stock had a trading volume of 55,600 shares, compared to its average volume of 34,981. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.14. State Auto Financial has a 52 week low of $22.11 and a 52 week high of $30.85.
Several research firms have recently weighed in on STFC. BidaskClub raised State Auto Financial from a “hold” rating to a “buy” rating in a research report on Tuesday, February 13th. Zacks Investment Research raised State Auto Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, November 15th. Two analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $29.50.
In related news, insider John M. Petrucci sold 10,682 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $27.84, for a total transaction of $297,386.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Matthew Stanley Mrozek sold 3,380 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $27.85, for a total value of $94,133.00. Following the transaction, the vice president now directly owns 8,633 shares of the company’s stock, valued at $240,429.05. The disclosure for this sale can be found here. Corporate insiders own 1.54% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. MetLife Investment Advisors LLC acquired a new position in State Auto Financial during the fourth quarter valued at approximately $231,000. Voya Investment Management LLC boosted its holdings in shares of State Auto Financial by 21.9% in the 2nd 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 in the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of State Auto Financial in the 2nd quarter valued at $237,000. The Manufacturers Life Insurance Company boosted its holdings in shares of State Auto Financial by 6.6% in the 2nd 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 in the last quarter. Finally, Huntington National Bank acquired a new stake in shares of State Auto Financial in the 4th quarter valued at $712,000. 33.78% of the stock is owned by hedge funds and other institutional investors.
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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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