Vanguard Group Inc. reduced its stake in shares of State Auto Financial Corp (NASDAQ:STFC) by 4.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,585,767 shares of the insurance provider’s stock after selling 72,626 shares during the quarter. Vanguard Group Inc. owned approximately 3.62% of State Auto Financial worth $28,305,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in STFC. Bank of New York Mellon Corp lifted its stake in State Auto Financial by 4.5% in the first quarter. Bank of New York Mellon Corp now owns 132,532 shares of the insurance provider’s stock worth $3,683,000 after acquiring an additional 5,725 shares during the period. First Trust Advisors LP lifted its stake in State Auto Financial by 4.7% in the first quarter. First Trust Advisors LP now owns 11,283 shares of the insurance provider’s stock worth $314,000 after acquiring an additional 504 shares during the period. Victory Capital Management Inc. lifted its stake in State Auto Financial by 4.9% in the first quarter. Victory Capital Management Inc. now owns 1,566,635 shares of the insurance provider’s stock worth $43,537,000 after acquiring an additional 72,870 shares during the period. Federated Hermes Inc. lifted its stake in State Auto Financial by 2,945.3% in the first quarter. Federated Hermes Inc. now owns 37,792 shares of the insurance provider’s stock worth $1,050,000 after acquiring an additional 36,551 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its stake in State Auto Financial by 28.4% in the first quarter. BNP Paribas Arbitrage SA now owns 5,674 shares of the insurance provider’s stock worth $158,000 after acquiring an additional 1,254 shares during the period. 33.79% of the stock is owned by institutional investors.
STFC stock opened at $13.43 on Monday. The firm has a market cap of $588.74 million, a price-to-earnings ratio of -14.76 and a beta of -0.08. The firm has a 50-day simple moving average of $15.30 and a two-hundred day simple moving average of $19.24. State Auto Financial Corp has a one year low of $13.34 and a one year high of $34.75. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.13 and a current ratio of 0.13.
State Auto Financial (NASDAQ:STFC) last posted its quarterly earnings data on Thursday, August 6th. The insurance provider reported ($0.59) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.89) by $0.30. State Auto Financial had a negative net margin of 2.67% and a negative return on equity of 0.56%. The firm had revenue of $358.70 million for the quarter, compared to the consensus estimate of $360.10 million. As a group, equities analysts predict that State Auto Financial Corp will post 0.2 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Thursday, September 17th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $0.40 annualized dividend and a dividend yield of 2.98%. State Auto Financial’s dividend payout ratio (DPR) is currently 63.49%.
A number of research firms recently weighed in on STFC. Sidoti began coverage on shares of State Auto Financial in a research note on Thursday, July 16th. They issued a “neutral” rating and a $20.00 price objective for the company. BidaskClub lowered shares of State Auto Financial from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 22nd. ValuEngine lowered shares of State Auto Financial from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Zacks Investment Research lowered shares of State Auto Financial from a “hold” rating to a “strong sell” rating in a research report on Saturday, July 25th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. State Auto Financial has an average rating of “Hold” and a consensus price target of $22.67.
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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