Zacks Investment Research upgraded shares of State Auto Financial Corporation (NASDAQ:STFC) from a sell rating to a hold rating in a report released on Wednesday.

According to Zacks, “State Auto Financial Corporation is an insurance holding company, which engages, through its subsidiaries, primarily in the property and casualty insurance business. The company’s principal subsidiary is State Auto Property and Casualty Insurance Company. State Auto P&C is a regional insurer engaged primarily in writing personal and commercial automobile, homeowners, commercial multi-peril, workers’ compensation and fire insurance. “

A number of other equities analysts have also recently issued reports on STFC. ValuEngine upgraded State Auto Financial Corporation from a sell rating to a hold rating in a report on Friday, August 11th. Keefe, Bruyette & Woods reiterated a hold rating and issued a $26.00 price objective on shares of State Auto Financial Corporation in a report on Friday, August 18th. TheStreet cut State Auto Financial Corporation from a b rating to a c+ rating in a report on Monday, May 22nd. Finally, BidaskClub upgraded State Auto Financial Corporation from a strong sell rating to a sell rating in a report on Friday, June 30th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $26.00.

State Auto Financial Corporation (NASDAQ STFC) traded up 0.12% during mid-day trading on Wednesday, reaching $24.82. The company had a trading volume of 95,582 shares. The stock has a 50 day moving average price of $24.70 and a 200-day moving average price of $25.67. The stock has a market capitalization of $1.04 billion, a P/E ratio of 22.38 and a beta of 0.90. State Auto Financial Corporation has a 12-month low of $19.54 and a 12-month high of $27.97.

State Auto Financial Corporation (NASDAQ:STFC) last announced its earnings results on Tuesday, August 8th. The insurance provider reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.12. The business had revenue of $339.90 million for the quarter, compared to analyst estimates of $341.30 million. State Auto Financial Corporation had a return on equity of 1.46% and a net margin of 3.33%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.69) EPS. Equities analysts anticipate that State Auto Financial Corporation will post $0.35 EPS for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Wednesday, September 13th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend is Tuesday, September 12th. State Auto Financial Corporation’s payout ratio is currently 35.71%.

Institutional investors and hedge funds have recently bought and sold shares of the company. Great West Life Assurance Co. Can purchased a new position in shares of State Auto Financial Corporation in the 2nd quarter worth about $126,000. Voya Investment Management LLC boosted its holdings in shares of State Auto Financial Corporation by 21.9% in the 2nd quarter. Voya Investment Management LLC now owns 9,076 shares of the insurance provider’s stock worth $234,000 after purchasing an additional 1,633 shares in the last quarter. Goldman Sachs Group Inc. purchased a new position in shares of State Auto Financial Corporation in the 2nd quarter worth about $237,000. American International Group Inc. boosted its holdings in shares of State Auto Financial Corporation by 7.1% in the 1st quarter. American International Group Inc. now owns 9,526 shares of the insurance provider’s stock worth $261,000 after purchasing an additional 635 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of State Auto Financial Corporation by 6.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,644 shares of the insurance provider’s stock worth $351,000 after purchasing an additional 839 shares in the last quarter. Hedge funds and other institutional investors own 32.85% of the company’s stock.

State Auto Financial Corporation Company Profile

State Auto Financial Corporation is a property and casualty insurance holding company. The Company is engaged in writing personal, business and specialty insurance. Its segments include Personal Insurance Segment, Commercial Insurance Segment and Specialty Insurance Segment. Its Personal Insurance Segment include personal auto, homeowners and other personal; Commercial Insurance Segment include commercial auto, small commercial package, middle market commercial, workers’ compensation and other commercial, and Specialty Insurance Segment include Excess & Surplus (E&S) property, E&S casualty and programs.

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