Bank of America Corp DE Purchases 187,422 Shares of State Auto Financial Corp (NASDAQ:STFC)

Bank of America Corp DE lifted its position in shares of State Auto Financial Corp (NASDAQ:STFC) by 1,597.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 199,156 shares of the insurance provider’s stock after buying an additional 187,422 shares during the quarter. Bank of America Corp DE owned approximately 0.46% of State Auto Financial worth $6,971,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quantamental Technologies LLC bought a new position in shares of State Auto Financial during the 2nd quarter worth $25,000. Bank of Montreal Can bought a new stake in State Auto Financial during the second quarter valued at about $51,000. KBC Group NV bought a new stake in State Auto Financial during the second quarter valued at about $83,000. Aperio Group LLC bought a new stake in State Auto Financial during the second quarter valued at about $119,000. Finally, Acadian Asset Management LLC bought a new stake in State Auto Financial during the second quarter valued at about $120,000. 33.44% of the stock is currently owned by institutional investors and hedge funds.

Shares of STFC stock opened at $32.49 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.05 and a quick ratio of 0.05. The company has a market cap of $1.43 billion, a P/E ratio of 27.08 and a beta of 0.32. The stock’s 50-day moving average is $32.32 and its 200 day moving average is $33.62. State Auto Financial Corp has a 1-year low of $28.46 and a 1-year high of $36.45.



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

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Tuesday, September 17th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend was Monday, September 16th. State Auto Financial’s dividend payout ratio is presently 33.33%.

A number of equities research analysts recently weighed in on the company. Zacks Investment Research raised State Auto Financial from a “strong sell” rating to a “hold” rating in a research report on Friday, October 4th. BidaskClub downgraded State Auto Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, July 30th. ValuEngine downgraded State Auto Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, September 25th. Finally, TheStreet downgraded State Auto Financial from a “b” rating to a “c+” rating in a research report on Friday, August 23rd.

In other State Auto Financial news, Director Michelle Lantow purchased 1,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was acquired at an average price of $31.03 per share, with a total value of $31,030.00. Following the completion of the acquisition, the director now owns 1,000 shares in the company, valued at $31,030. The acquisition was disclosed in a filing with the SEC, which is available at this link. 1.83% of the stock is currently owned by company insiders.

About State Auto Financial

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.

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

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