Langen Mcalenn Comments on State Auto Financial Corp’s FY2018 Earnings (STFC)
State Auto Financial Corp (NASDAQ:STFC) – Analysts at Langen Mcalenn boosted their FY2018 earnings estimates for State Auto Financial in a research note issued to investors on Tuesday. Langen Mcalenn analyst L. Greenberg now forecasts that the insurance provider will post earnings of $1.70 per share for the year, up from their previous estimate of $1.50.
Several other analysts also recently weighed in on STFC. Zacks Investment Research upgraded State Auto Financial from a “hold” rating to a “strong-buy” rating and set a $33.00 price objective for the company in a research report on Saturday. BidaskClub downgraded State Auto Financial from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Three equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. State Auto Financial presently has an average rating of “Buy” and an average price target of $29.50.
State Auto Financial (NASDAQ:STFC) last announced its quarterly earnings data on Thursday, November 2nd. The insurance provider reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.08). State Auto Financial had a negative return on equity of 1.53% and a net margin of 1.94%. 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 prior year, the company earned $0.10 earnings per share. State Auto Financial’s quarterly revenue was up 1.6% compared to the same quarter last year.
Institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN raised its position in State Auto Financial by 5.1% in the second quarter. Wells Fargo & Company MN now owns 108,289 shares of the insurance provider’s stock valued at $2,787,000 after purchasing an additional 5,231 shares during the last quarter. Earnest Partners LLC raised its position in State Auto Financial by 1.4% in the second quarter. Earnest Partners LLC now owns 762,325 shares of the insurance provider’s stock valued at $19,615,000 after purchasing an additional 10,880 shares during the last quarter. State Street Corp raised its position in State Auto Financial by 5.3% in the second quarter. State Street Corp now owns 297,875 shares of the insurance provider’s stock valued at $7,667,000 after purchasing an additional 14,971 shares during the last quarter. Deprince Race & Zollo Inc. raised its position in State Auto Financial by 15.1% in the third quarter. Deprince Race & Zollo Inc. now owns 430,341 shares of the insurance provider’s stock valued at $11,288,000 after purchasing an additional 56,554 shares during the last quarter. Finally, Comerica Bank raised its position in State Auto Financial by 43.8% in the second quarter. Comerica Bank now owns 32,091 shares of the insurance provider’s stock valued at $781,000 after purchasing an additional 9,769 shares during the last quarter. Hedge funds and other institutional investors own 33.10% of the company’s stock.
In other State Auto Financial news, insider John M. Petrucci sold 10,682 shares of the stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $27.84, for a total value of $297,386.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Matthew Stanley Mrozek sold 3,380 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $27.85, for a total value of $94,133.00. Following the completion of the transaction, the vice president now owns 8,633 shares of the company’s stock, valued at $240,429.05. The disclosure for this sale can be found here. 1.54% of the stock is owned by corporate insiders.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 8th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $0.40 annualized dividend and a dividend yield of 1.35%. State Auto Financial’s dividend payout ratio is currently 61.54%.
State Auto Financial 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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