Insider Buying: Automobile Mutual Insura State Buys 3,900 Shares of State Auto Financial Corp Stock (STFC)
State Auto Financial Corp (NASDAQ:STFC) major shareholder Automobile Mutual Insura State acquired 3,900 shares of the stock on the open market in a transaction dated Friday, May 16th. The shares were purchased at an average price of $20.62 per share, for a total transaction of $80,418.00. Following the completion of the transaction, the insider now directly owns 25,401,197 shares of the company’s stock, valued at approximately $523,772,682. The transaction was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
A number of research firms have recently commented on STFC. Analysts at Zacks upgraded shares of State Auto Financial Corp from a “neutral” rating to an “outperform” rating in a research note on Friday, May 2nd. They now have a $23.40 price target on the stock. Separately, analysts at Keefe, Bruyette & Woods raised their price target on shares of State Auto Financial Corp from $21.00 to $22.50 in a research note on Thursday, May 1st. Finally, analysts at Argus raised their price target on shares of State Auto Financial Corp from $23.00 to $25.00 in a research note on Wednesday, March 19th. They now have a “buy” rating on the stock. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $22.73.
State Auto Financial Corp (NASDAQ:STFC) opened at 21.62 on Tuesday. State Auto Financial Corp has a one year low of $17.17 and a one year high of $23.10. The stock’s 50-day moving average is $21.27 and its 200-day moving average is $20.77. The company has a market cap of $883.4 million and a price-to-earnings ratio of 12.99.
State Auto Financial Corp (NASDAQ:STFC) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.30. The company had revenue of $291.30 million for the quarter, compared to the consensus estimate of $285.60 million. During the same quarter in the previous year, the company posted $0.38 earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, analysts predict that State Auto Financial Corp will post $1.56 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, June 30th. Stockholders of record on Wednesday, June 11th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.85%. The ex-dividend date is Monday, June 9th.
State Auto Financial Corporation (NASDAQ:STFC) is a property and casualty insurance holding company.
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