State Auto Financial (NASDAQ:STFC) Lowered to “Sell” at BidaskClub

BidaskClub lowered shares of State Auto Financial (NASDAQ:STFC) from a hold rating to a sell rating in a research note released on Tuesday, BidAskClub reports.

Separately, Zacks Investment Research cut State Auto Financial from a buy rating to a hold rating in a report on Saturday, February 16th.

Shares of NASDAQ STFC opened at $34.01 on Tuesday. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 28.34 and a beta of 0.37. 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 fifty-two week low of $28.57 and a fifty-two week high of $35.05.

State Auto Financial (NASDAQ:STFC) last announced its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.04). The company had revenue of $367.60 million during the quarter, compared to analyst estimates of $328.55 million. State Auto Financial had a net margin of 4.87% and a return on equity of 6.86%. State Auto Financial’s revenue was up 13.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.17 earnings per share. As a group, equities research analysts forecast that State Auto Financial will post 1.85 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Tuesday, June 18th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.40 annualized dividend and a dividend yield of 1.18%. State Auto Financial’s payout ratio is 33.33%.

Institutional investors and hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of State Auto Financial by 109.7% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 998 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 522 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of State Auto Financial in the 1st quarter valued at $107,000. Amundi Pioneer Asset Management Inc. bought a new position in shares of State Auto Financial in the 4th quarter valued at $129,000. BNP Paribas Arbitrage SA increased its stake in shares of State Auto Financial by 287.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,840 shares of the insurance provider’s stock valued at $126,000 after purchasing an additional 2,849 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY increased its stake in shares of State Auto Financial by 358.1% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 5,319 shares of the insurance provider’s stock valued at $181,000 after purchasing an additional 4,158 shares during the last quarter. Institutional investors own 33.52% of the company’s stock.

State Auto Financial Company Profile

State Auto Financial Corporation, through its subsidiaries, engages in writing personal and business insurance products. It operates through four segments: Personal Insurance, Commercial Insurance, Specialty Insurance, and Investment Operations. The Personal Insurance segment primarily provides personal automobile, homeowners insurance, and other personal insurance products.

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