Insider Buying: State Auto Financial Corp major shareholder Buys 2,902 Shares of Stock (STFC)
State Auto Financial Corp (NASDAQ:STFC) major shareholder Automobile Mutual Insura State purchased 2,902 shares of State Auto Financial Corp stock in a transaction dated Tuesday, August 19th. The stock was purchased at an average price of $21.67 per share, with a total value of $62,886.34. Following the purchase, the insider now directly owns 25,506,705 shares in the company, valued at approximately $552,730,297. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases 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 2.17% on Wednesday, hitting $21.405. The stock had a trading volume of 15,169 shares. State Auto Financial Corp has a 52 week low of $17.56 and a 52 week high of $25.43. The stock has a 50-day moving average of $21.95 and a 200-day moving average of $21.43. The company has a market cap of $876.4 million and a P/E ratio of 13.86.
State Auto Financial Corp (NASDAQ:STFC) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.07 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.13 earnings per share. The company’s quarterly revenue was up 3.2% on a year-over-year basis. Analysts expect that State Auto Financial Corp will post $1.48 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 30th. Investors of record on Wednesday, September 10th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend is Monday, September 8th.
State Auto Financial Corporation (NASDAQ:STFC) is a property and casualty insurance holding company.
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