Geode Capital Management LLC increased its position in shares of State Auto Financial Corporation (NASDAQ:STFC) by 4.6% during the first quarter, Holdings Channel reports. The institutional investor owned 135,538 shares of the insurance provider’s stock after buying an additional 5,962 shares during the period. Geode Capital Management LLC’s holdings in State Auto Financial Corporation were worth $3,720,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in STFC. American International Group Inc. increased its stake in State Auto Financial Corporation by 7.1% in the first quarter. American International Group Inc. now owns 9,526 shares of the insurance provider’s stock worth $261,000 after buying an additional 635 shares in the last quarter. Nationwide Fund Advisors increased its stake in State Auto Financial Corporation by 3.1% in the first quarter. Nationwide Fund Advisors now owns 14,509 shares of the insurance provider’s stock worth $398,000 after buying an additional 435 shares in the last quarter. Wells Fargo & Company MN increased its stake in State Auto Financial Corporation by 0.6% in the first quarter. Wells Fargo & Company MN now owns 103,058 shares of the insurance provider’s stock worth $2,829,000 after buying an additional 594 shares in the last quarter. Boston Partners increased its stake in State Auto Financial Corporation by 2.3% in the first quarter. Boston Partners now owns 109,266 shares of the insurance provider’s stock worth $2,999,000 after buying an additional 2,423 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in State Auto Financial Corporation by 4.1% in the first quarter. Bank of New York Mellon Corp now owns 112,892 shares of the insurance provider’s stock worth $3,099,000 after buying an additional 4,490 shares in the last quarter. 32.39% of the stock is currently owned by institutional investors and hedge funds.
State Auto Financial Corporation (NASDAQ:STFC) traded down 0.36% during mid-day trading on Friday, hitting $25.14. The company had a trading volume of 10,080 shares. The firm has a market capitalization of $1.06 billion, a PE ratio of 22.67 and a beta of 0.90. The company’s 50 day moving average price is $25.12 and its 200-day moving average price is $25.84. 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 posted its earnings results on Tuesday, August 8th. The insurance provider reported ($0.04) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.12. State Auto Financial Corporation had a net margin of 3.33% and a return on equity of 1.46%. The company had revenue of $339.90 million for the quarter, compared to analyst estimates of $341.30 million. During the same quarter in the prior year, the business posted ($0.69) EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. On average, analysts forecast that State Auto Financial Corporation will post $0.39 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Wednesday, September 13th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.59%. State Auto Financial Corporation’s dividend payout ratio is presently 35.71%.
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A number of research firms recently issued reports on STFC. ValuEngine downgraded State Auto Financial Corporation from a “hold” rating to a “sell” rating in a research report on Friday, July 14th. BidaskClub raised State Auto Financial Corporation from a “strong sell” rating to a “sell” rating in a research report on Friday, June 30th. Zacks Investment Research downgraded State Auto Financial Corporation from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 25th. Finally, TheStreet downgraded State Auto Financial Corporation from a “b” rating to a “c+” rating in a research report on Monday, May 22nd. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold”.
In related news, insider Jessica Elizabeth Clark sold 37,270 shares of the company’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $24.51, for a total value of $913,487.70. Following the sale, the insider now owns 20,922 shares in the company, valued at approximately $512,798.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 65,569 shares of company stock worth $1,606,555 in the last 90 days. 1.54% of the stock is currently owned by company insiders.
About State Auto Financial Corporation
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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