State Auto Financial Corporation (STFC) Shares Sold by Bessemer Group Inc.
Bessemer Group Inc. lessened its holdings in shares of State Auto Financial Corporation (NASDAQ:STFC) by 31.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,300 shares of the insurance provider’s stock after selling 2,400 shares during the quarter. Bessemer Group Inc.’s holdings in State Auto Financial Corporation were worth $139,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in STFC. Great West Life Assurance Co. Can purchased a new position in State Auto Financial Corporation during the 2nd quarter worth $126,000. Voya Investment Management LLC increased its position in shares of State Auto Financial Corporation by 21.9% during the second quarter. Voya Investment Management LLC now owns 9,076 shares of the insurance provider’s stock valued at $234,000 after buying an additional 1,633 shares during the period. Goldman Sachs Group Inc. bought a new stake in shares of State Auto Financial Corporation during the second quarter valued at about $237,000. American International Group Inc. increased its position in shares of State Auto Financial Corporation by 7.1% during the first quarter. American International Group Inc. now owns 9,526 shares of the insurance provider’s stock valued at $261,000 after buying an additional 635 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of State Auto Financial Corporation by 6.6% in the second 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 during the last quarter. Institutional investors and hedge funds own 32.98% of the company’s stock.
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Several research analysts recently weighed in on STFC shares. Zacks Investment Research upgraded shares of State Auto Financial Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, November 15th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $26.00 price objective on shares of State Auto Financial Corporation in a research report on Friday, August 18th. Finally, ValuEngine upgraded shares of State Auto Financial Corporation from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $26.00.
State Auto Financial Corporation (NASDAQ STFC) opened at $26.69 on Tuesday. State Auto Financial Corporation has a 52-week low of $22.11 and a 52-week high of $27.97. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.14.
State Auto Financial Corporation (NASDAQ:STFC) last issued its quarterly earnings results on Thursday, November 2nd. The insurance provider reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.08). State Auto Financial Corporation had a net margin of 1.94% and a negative return on equity of 1.53%. The business had revenue of $358.40 million for the quarter, compared to the consensus estimate of $342.70 million. During the same quarter in the previous year, the business earned $0.10 earnings per share. The firm’s revenue was up 1.6% on a year-over-year basis. research analysts forecast that State Auto Financial Corporation will post -0.32 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 8th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Thursday, December 7th. State Auto Financial Corporation’s dividend payout ratio (DPR) is presently 61.54%.
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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