State Auto Financial Corporation (STFC) Lifted to “Hold” at Zacks Investment Research

State Auto Financial Corporation (NASDAQ:STFC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued 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 research firms have also weighed in on STFC. BidaskClub raised State Auto Financial Corporation from a “strong sell” rating to a “sell” rating in a report on Friday, June 30th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $26.00 target price on shares of State Auto Financial Corporation in a report on Friday, August 18th. ValuEngine raised State Auto Financial Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, TheStreet lowered State Auto Financial Corporation from a “b” rating to a “c+” rating in a report on Monday, May 22nd. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. State Auto Financial Corporation presently has an average rating of “Hold” and a consensus target price of $26.00.

Shares of State Auto Financial Corporation (STFC) opened at 24.76 on Wednesday. The firm has a market capitalization of $1.04 billion, a P/E ratio of 22.33 and a beta of 0.90. The firm’s 50-day moving average is $24.72 and its 200-day moving average is $25.71. State Auto Financial Corporation has a 52 week low of $19.54 and a 52 week 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, beating the Zacks’ consensus estimate of ($0.16) by $0.12. The business had revenue of $339.90 million during 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 quarter in the previous year, the firm earned ($0.69) EPS. Equities analysts anticipate that State Auto Financial Corporation will post $0.39 EPS for the current year.

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Several hedge funds and other institutional investors have recently modified their holdings of the company. Oppenheimer Asset Management Inc. grew its holdings in shares of State Auto Financial Corporation by 1.1% during the second quarter. Oppenheimer Asset Management Inc. now owns 15,663 shares of the insurance provider’s stock worth $403,000 after purchasing an additional 173 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of State Auto Financial Corporation by 0.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 60,082 shares of the insurance provider’s stock worth $1,546,000 after purchasing an additional 323 shares in the last quarter. Nationwide Fund Advisors grew its holdings in shares of State Auto Financial Corporation by 3.1% during the first quarter. Nationwide Fund Advisors now owns 14,509 shares of the insurance provider’s stock worth $398,000 after purchasing an additional 435 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of State Auto Financial Corporation by 1.8% during the second quarter. Rhumbline Advisers now owns 25,436 shares of the insurance provider’s stock worth $654,000 after purchasing an additional 445 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of State Auto Financial Corporation by 0.6% during the first quarter. Wells Fargo & Company MN now owns 103,058 shares of the insurance provider’s stock worth $2,829,000 after purchasing an additional 594 shares in the last quarter. 32.85% of the stock is owned by institutional investors.

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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