Insider Buying: Automobile Mutual Insura State Acquires 7,900 Shares of State Auto Financial Corp Stock (STFC)
State Auto Financial Corp (NASDAQ:STFC) major shareholder Automobile Mutual Insura State purchased 7,900 shares of State Auto Financial Corp stock in a transaction that occurred on Monday, June 2nd. The shares were purchased at an average cost of $21.84 per share, for a total transaction of $172,536.00. Following the completion of the purchase, the insider now directly owns 25,443,896 shares in the company, valued at approximately $555,694,689. The acquisition was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
State Auto Financial Corp (NASDAQ:STFC) traded down 1.49% on Tuesday, hitting $21.20. 14,415 shares of the company’s stock traded hands. State Auto Financial Corp has a 52-week low of $17.17 and a 52-week high of $23.10. The stock’s 50-day moving average is $21.34 and its 200-day moving average is $20.89. The company has a market cap of $866.2 million and a price-to-earnings ratio of 12.93.
State Auto Financial Corp (NASDAQ:STFC) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.66 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.38 earnings per share. State Auto Financial Corp’s revenue was up 2.1% compared to the same quarter last year. 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. Shareholders 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 1.86%. The ex-dividend date is Monday, June 9th.
STFC has been the subject of a number of recent research reports. Analysts at Argus reiterated a “buy” rating on shares of State Auto Financial Corp in a research note on Tuesday. They now have a $26.00 price target on the stock, up previously from $25.00. Separately, 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. Finally, 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. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. State Auto Financial Corp has a consensus rating of “Buy” and an average price target of $22.98.
State Auto Financial Corporation (NASDAQ:STFC) is a property and casualty insurance holding company.
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