State Auto Financial (NASDAQ:STFC) Cut to Sell at BidaskClub

BidaskClub lowered shares of State Auto Financial (NASDAQ:STFC) from a hold rating to a sell rating in a research note published on Wednesday morning, BidAskClub reports.

A number of other research firms have also issued reports on STFC. Zacks Investment Research raised State Auto Financial from a strong sell rating to a hold rating in a report on Friday, October 4th. ValuEngine upgraded shares of State Auto Financial from a hold rating to a buy rating in a research report on Friday, November 1st. Finally, TheStreet downgraded shares of State Auto Financial from a b rating to a c+ rating in a research report on Friday, August 23rd.

Shares of NASDAQ STFC traded down $0.49 during mid-day trading on Wednesday, hitting $31.96. The company had a trading volume of 25,500 shares, compared to its average volume of 47,426. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.05 and a quick ratio of 0.05. State Auto Financial has a 1-year low of $28.10 and a 1-year high of $36.45. The business’s 50-day simple moving average is $32.81 and its 200 day simple moving average is $33.64. The company has a market capitalization of $1.42 billion, a PE ratio of 26.63 and a beta of 0.32.

State Auto Financial (NASDAQ:STFC) last released its quarterly earnings results on Thursday, October 31st. The insurance provider reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.15). State Auto Financial had a return on equity of 4.88% and a net margin of 2.31%. The company had revenue of $334.50 million for the quarter, compared to analysts’ expectations of $340.00 million. During the same period in the prior year, the business earned $0.44 EPS. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. On average, analysts expect that State Auto Financial will post 1.03 EPS for the current year.

A number of large investors have recently made changes to their positions in STFC. Huntington National Bank lifted its position in State Auto Financial by 30.9% in the second quarter. Huntington National Bank now owns 18,610 shares of the insurance provider’s stock valued at $651,000 after purchasing an additional 4,394 shares during the period. Strs Ohio lifted its position in shares of State Auto Financial by 4.2% during the 2nd quarter. Strs Ohio now owns 19,700 shares of the insurance provider’s stock valued at $689,000 after acquiring an additional 800 shares during the period. KBC Group NV acquired a new stake in shares of State Auto Financial during the 2nd quarter valued at approximately $83,000. Aperio Group LLC acquired a new stake in shares of State Auto Financial during the 2nd quarter valued at approximately $119,000. Finally, Envestnet Asset Management Inc. acquired a new stake in shares of State Auto Financial during the 2nd quarter valued at approximately $469,000. Hedge funds and other institutional investors own 33.45% of the company’s stock.

State Auto Financial Company 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: Oversold

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