Insider Buying: State Auto Financial Corp major shareholder Buys 2,000 Shares of Stock (STFC)
State Auto Financial Corp (NASDAQ:STFC) major shareholder Automobile Mutual Insura State bought 2,000 shares of the company’s stock on the open market in a transaction that occurred on Monday, August 11th. The stock was purchased at an average price of $21.97 per share, with a total value of $43,940.00. Following the transaction, the insider now directly owns 25,488,666 shares in the company, valued at approximately $559,985,992. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
A number of research firms have recently commented on STFC. Analysts at Sandler O’Neill raised their price target on shares of State Auto Financial Corp from $21.00 to $24.00 in a research note on Thursday, July 10th. Separately, analysts at TheStreet upgraded shares of State Auto Financial Corp from a “hold” rating to a “buy” rating in a research note on Thursday, June 5th. Finally, analysts at Argus reiterated a “buy” rating on shares of State Auto Financial Corp in a research note on Tuesday, June 3rd. They now have a $26.00 price target on the stock, up previously from $25.00.
State Auto Financial Corp (NASDAQ:STFC) traded down 0.61% during mid-day trading on Wednesday, hitting $21.15. The stock had a trading volume of 5,108 shares. State Auto Financial Corp has a 1-year low of $17.56 and a 1-year high of $25.43. The stock has a 50-day moving average of $22.15 and a 200-day moving average of $21.. The company has a market cap of $865.9 million and a P/E ratio of 13.48.
State Auto Financial Corp (NASDAQ:STFC) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.07 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.02 by $0.05. The company had revenue of $294.40 million for the quarter, compared to the consensus estimate of $288.45 million. During the same quarter last year, the company posted $0.13 earnings per share. State Auto Financial Corp’s revenue was up 3.2% compared to the same quarter last year. On average, analysts predict that State Auto Financial Corp will post $1.48 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 30th. Stockholders of record on Wednesday, September 10th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Monday, September 8th.
State Auto Financial Corporation (NASDAQ:STFC) is a property and casualty insurance holding company.
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