State Auto Financial Corp (NASDAQ:STFC) saw a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 886,613 shares, an increase of 52.4% from the October 15th total of 581,850 shares. Approximately 5.4% of the shares of the stock are sold short. Based on an average trading volume of 24,925 shares, the short-interest ratio is presently 35.6 days.
A number of equities analysts have commented on the stock. BidaskClub cut shares of State Auto Financial from a “buy” rating to a “hold” rating in a research note on Saturday, August 25th. Zacks Investment Research cut shares of State Auto Financial from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 17th. Finally, Keefe, Bruyette & Woods set a $30.00 price objective on shares of State Auto Financial and gave the stock a “hold” rating in a research note on Monday, August 6th.
Shares of NASDAQ:STFC opened at $33.00 on Friday. State Auto Financial has a 52 week low of $25.12 and a 52 week high of $34.31. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of -82.50 and a beta of 0.63. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.05 and a quick ratio of 0.05.
State Auto Financial (NASDAQ:STFC) last issued its quarterly earnings data on Thursday, November 1st. The insurance provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.17. State Auto Financial had a net margin of 2.29% and a return on equity of 4.62%. The business had revenue of $346.00 million during the quarter, compared to analysts’ expectations of $325.60 million. During the same period last year, the company posted ($0.54) EPS. The business’s revenue was down 3.5% on a year-over-year basis. As a group, research analysts expect that State Auto Financial will post 1.15 EPS for the current fiscal year.
In other State Auto Financial news, insider Steven Eugene English sold 3,633 shares of State Auto Financial stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $34.00, for a total value of $123,522.00. Following the completion of the transaction, the insider now directly owns 39,148 shares of the company’s stock, valued at approximately $1,331,032. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.54% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Earnest Partners LLC boosted its stake in shares of State Auto Financial by 0.3% during the 2nd quarter. Earnest Partners LLC now owns 774,130 shares of the insurance provider’s stock worth $23,154,000 after purchasing an additional 2,158 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of State Auto Financial by 2.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 121,616 shares of the insurance provider’s stock worth $3,638,000 after purchasing an additional 3,239 shares during the period. Renaissance Technologies LLC boosted its stake in shares of State Auto Financial by 2.9% during the 2nd quarter. Renaissance Technologies LLC now owns 258,800 shares of the insurance provider’s stock worth $7,741,000 after purchasing an additional 7,400 shares during the period. Lincoln National Corp purchased a new position in shares of State Auto Financial during the 2nd quarter worth about $205,000. Finally, Russell Investments Group Ltd. boosted its stake in shares of State Auto Financial by 53.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 163,319 shares of the insurance provider’s stock worth $4,893,000 after purchasing an additional 56,662 shares during the period. 35.32% of the stock is owned by hedge funds and other institutional investors.
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About State Auto Financial
State Auto Financial Corporation, through its subsidiaries, engages in writing personal, business, and specialty 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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