State Auto Financial (NASDAQ:STFC) Shares Gap Down to $19.48


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State Auto Financial Co. (NASDAQ:STFC) gapped down before the market opened on Tuesday . The stock had previously closed at $19.48, but opened at $18.64. State Auto Financial shares last traded at $19.39, with a volume of 103 shares changing hands.

A number of research analysts have issued reports on the company. Zacks Investment Research cut State Auto Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, April 21st. TheStreet upgraded shares of State Auto Financial from a “d+” rating to a “c-” rating in a report on Monday, January 11th.

The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $846.49 million, a P/E ratio of -21.64 and a beta of 0.19. The stock has a fifty day moving average of $19.73 and a 200-day moving average of $17.46.

State Auto Financial (NASDAQ:STFC) last released its quarterly earnings results on Wednesday, February 17th. The insurance provider reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.06. The firm had revenue of $374.60 million during the quarter, compared to the consensus estimate of $376.30 million. State Auto Financial had a negative return on equity of 2.64% and a negative net margin of 2.56%. Sell-side analysts predict that State Auto Financial Co. will post -0.3 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 26th. Stockholders of record on Wednesday, March 17th were paid a dividend of $0.10 per share. The ex-dividend date was Tuesday, March 16th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.08%. State Auto Financial’s dividend payout ratio is 63.49%.

In related news, VP Matthew Stanley Mrozek sold 5,086 shares of the company’s stock in a transaction dated Wednesday, February 24th. The stock was sold at an average price of $18.12, for a total transaction of $92,158.32. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.00% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of STFC. Victory Capital Management Inc. raised its stake in State Auto Financial by 28.1% in the 4th quarter. Victory Capital Management Inc. now owns 2,008,300 shares of the insurance provider’s stock valued at $35,627,000 after acquiring an additional 440,709 shares during the period. Norges Bank acquired a new stake in shares of State Auto Financial during the 4th quarter worth about $4,585,000. Price T Rowe Associates Inc. MD lifted its stake in shares of State Auto Financial by 7.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,676,298 shares of the insurance provider’s stock worth $65,218,000 after buying an additional 256,374 shares during the last quarter. Heartland Advisors Inc. bought a new stake in shares of State Auto Financial during the 4th quarter worth about $4,435,000. Finally, Grace & White Inc. NY grew its stake in State Auto Financial by 123.4% in the 4th quarter. Grace & White Inc. NY now owns 110,146 shares of the insurance provider’s stock valued at $1,954,000 after buying an additional 60,838 shares during the last quarter. Institutional investors own 33.46% of the company’s stock.

About State Auto Financial (NASDAQ:STFC)

State Auto Financial Corporation, through its subsidiaries, engages in writing personal and business insurance products in the United States. It operates through Personal Insurance, Commercial Insurance, and Investment Operations segments. The Personal Insurance segment primarily provides personal automobile, homeowners, and other personal insurance products.

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