KBC Group NV Invests $83,000 in State Auto Financial Corp (NASDAQ:STFC)

KBC Group NV acquired a new stake in State Auto Financial Corp (NASDAQ:STFC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,384 shares of the insurance provider’s stock, valued at approximately $83,000.

A number of other hedge funds and other institutional investors have also modified their holdings of STFC. Bank of New York Mellon Corp grew its stake in shares of State Auto Financial by 4.1% in the fourth quarter. Bank of New York Mellon Corp now owns 130,029 shares of the insurance provider’s stock worth $4,426,000 after purchasing an additional 5,138 shares during the last quarter. Geode Capital Management LLC lifted its holdings in State Auto Financial by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 201,589 shares of the insurance provider’s stock worth $6,862,000 after buying an additional 13,618 shares during the period. Bank of America Corp DE lifted its holdings in State Auto Financial by 153.0% in the fourth quarter. Bank of America Corp DE now owns 18,638 shares of the insurance provider’s stock worth $634,000 after buying an additional 11,272 shares during the period. Metropolitan Life Insurance Co. NY lifted its holdings in State Auto Financial by 358.1% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 5,319 shares of the insurance provider’s stock worth $181,000 after buying an additional 4,158 shares during the period. Finally, Norges Bank purchased a new stake in State Auto Financial in the fourth quarter worth about $13,649,000. 33.59% of the stock is currently owned by hedge funds and other institutional investors.

STFC stock traded up $0.12 during mid-day trading on Tuesday, hitting $33.02. The company had a trading volume of 2,994 shares, compared to its average volume of 49,416. The company has a market capitalization of $1.44 billion, a P/E ratio of 27.52 and a beta of 0.31. State Auto Financial Corp has a 12-month low of $28.46 and a 12-month high of $36.45. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.13. The firm’s 50-day moving average price is $34.57.



State Auto Financial (NASDAQ:STFC) last announced its quarterly earnings results on Thursday, August 1st. The insurance provider reported ($0.33) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.38). The company had revenue of $340.10 million during the quarter, compared to analysts’ expectations of $340.10 million. State Auto Financial had a return on equity of 5.49% and a net margin of 3.95%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.08) EPS. On average, research analysts forecast that State Auto Financial Corp will post 1.35 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 17th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Monday, September 16th. State Auto Financial’s dividend payout ratio is 33.33%.

STFC has been the subject of several research analyst reports. BidaskClub lowered shares of State Auto Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. Zacks Investment Research lowered shares of State Auto Financial from a “hold” rating to a “sell” rating in a report on Thursday, July 18th.

In other State Auto Financial news, Director Michelle Lantow bought 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average cost of $31.03 per share, for a total transaction of $31,030.00. Following the transaction, the director now owns 1,000 shares of the company’s stock, valued at $31,030. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.83% of the stock is currently owned by corporate insiders.

State Auto Financial Profile

State Auto Financial Corporation, through its subsidiaries, engages in writing personal and business 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.

Further Reading: What is the return on assets (ROA) ratio?

Institutional Ownership by Quarter for State Auto Financial (NASDAQ:STFC)

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