State Auto Financial Corporation (STFC) Holdings Decreased by Royal Bank of Canada

Royal Bank of Canada cut its stake in shares of State Auto Financial Corporation (NASDAQ:STFC) by 7.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,070 shares of the insurance provider’s stock after selling 504 shares during the period. Royal Bank of Canada’s holdings in State Auto Financial were worth $156,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wells Fargo & Company MN increased its position in shares of State Auto Financial by 5.1% during the second quarter. Wells Fargo & Company MN now owns 108,289 shares of the insurance provider’s stock valued at $2,787,000 after acquiring an additional 5,231 shares during the last quarter. TD Asset Management Inc. increased its position in shares of State Auto Financial by 13.2% during the second quarter. TD Asset Management Inc. now owns 25,700 shares of the insurance provider’s stock valued at $661,000 after acquiring an additional 3,000 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of State Auto Financial by 5.1% during the first quarter. Schwab Charles Investment Management Inc. now owns 59,759 shares of the insurance provider’s stock valued at $1,641,000 after acquiring an additional 2,907 shares during the last quarter. Comerica Bank increased its position in shares of State Auto Financial by 43.8% during the second quarter. Comerica Bank now owns 32,091 shares of the insurance provider’s stock valued at $781,000 after acquiring an additional 9,769 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new stake in shares of State Auto Financial during the second quarter valued at about $435,000. Institutional investors and hedge funds own 32.98% of the company’s stock.

State Auto Financial Corporation (NASDAQ:STFC) opened at $26.92 on Friday. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.14. State Auto Financial Corporation has a 12 month low of $22.11 and a 12 month high of $27.97.

State Auto Financial (NASDAQ:STFC) last posted its quarterly earnings data on Thursday, November 2nd. The insurance provider reported ($0.54) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.46) by ($0.08). State Auto Financial had a net margin of 1.94% and a negative return on equity of 1.53%. The business had revenue of $358.40 million during the quarter, compared to analysts’ expectations of $342.70 million. During the same period in the previous year, the business posted $0.10 EPS. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. equities research analysts forecast that State Auto Financial Corporation will post -0.32 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 8th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.49%. The ex-dividend date is Thursday, December 7th. State Auto Financial’s payout ratio is 61.54%.

A number of equities research analysts have weighed in on STFC shares. Zacks Investment Research upgraded shares of State Auto Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $26.00 price target on shares of State Auto Financial in a research report on Friday, August 18th. Finally, ValuEngine upgraded shares of State Auto Financial from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. State Auto Financial currently has an average rating of “Hold” and an average target price of $26.00.

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About State Auto Financial

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.

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

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