State Auto Financial Corp (STFC) Short Interest Down 40.8% in October

State Auto Financial Corp (NASDAQ:STFC) saw a large decline in short interest in the month of October. As of October 15th, there was short interest totalling 581,850 shares, a decline of 40.8% from the September 28th total of 982,495 shares. Based on an average trading volume of 26,944 shares, the short-interest ratio is presently 21.6 days. Approximately 3.5% of the company’s stock are sold short.

State Auto Financial stock opened at $31.05 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.05 and a current ratio of 0.05. State Auto Financial has a 12-month low of $24.84 and a 12-month high of $34.31. The firm has a market cap of $1.31 billion, a P/E ratio of -77.63 and a beta of 0.67.

State Auto Financial (NASDAQ:STFC) last released its earnings results on Monday, August 6th. The insurance provider reported ($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.14). State Auto Financial had a negative net margin of 0.82% and a negative return on equity of 0.25%. The company had revenue of $341.70 million for the quarter, compared to analyst estimates of $332.10 million. During the same quarter in the previous year, the firm earned ($0.04) EPS. The firm’s revenue was down 3.9% on a year-over-year basis. On average, equities research analysts expect that State Auto Financial will post 1.1 EPS for the current fiscal year.



A number of research firms recently issued reports on STFC. BidaskClub downgraded shares of State Auto Financial from a “buy” rating to a “hold” rating in a research report on Saturday, August 25th. Keefe, Bruyette & Woods set a $30.00 target price on shares of State Auto Financial and gave the company a “hold” rating in a research report on Monday, August 6th. Finally, Zacks Investment Research downgraded shares of State Auto Financial from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 17th.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STFC. Victory Capital Management Inc. raised its holdings in State Auto Financial by 36.9% during the second quarter. Victory Capital Management Inc. now owns 1,094,529 shares of the insurance provider’s stock worth $32,737,000 after buying an additional 294,814 shares during the last quarter. BlackRock Inc. raised its holdings in State Auto Financial by 6.8% during the second quarter. BlackRock Inc. now owns 1,111,049 shares of the insurance provider’s stock worth $33,232,000 after buying an additional 70,667 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in State Auto Financial by 53.1% during the second quarter. Russell Investments Group Ltd. now owns 163,319 shares of the insurance provider’s stock worth $4,893,000 after buying an additional 56,662 shares during the last quarter. Deprince Race & Zollo Inc. raised its holdings in State Auto Financial by 11.4% during the third quarter. Deprince Race & Zollo Inc. now owns 490,654 shares of the insurance provider’s stock worth $14,985,000 after buying an additional 50,057 shares during the last quarter. Finally, California Public Employees Retirement System raised its holdings in State Auto Financial by 192.2% during the second quarter. California Public Employees Retirement System now owns 22,788 shares of the insurance provider’s stock worth $682,000 after buying an additional 14,988 shares during the last quarter. Hedge funds and other institutional investors own 35.31% of the company’s stock.

About State Auto Financial

State Auto Financial Corporation, through its subsidiaries, engages in writing personal, business, and specialty insurance products. It operates through four segments: Personal Insurance, Commercial Insurance, Specialty Insurance, and Investment Operations. The Personal Insurance segment primarily provides personal automobile, homeowners insurance, and other personal insurance products.

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