Bank of New York Mellon Corp Has $2.93 Million Stake in State Auto Financial Corporation (STFC)

Bank of New York Mellon Corp lifted its position in State Auto Financial Corporation (NASDAQ:STFC) by 0.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 113,907 shares of the insurance provider’s stock after purchasing an additional 1,015 shares during the period. Bank of New York Mellon Corp owned about 0.27% of State Auto Financial Corporation worth $2,931,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Great West Life Assurance Co. Can purchased a new stake in shares of State Auto Financial Corporation in the second quarter worth $126,000. American International Group Inc. increased its stake in shares of State Auto Financial Corporation by 7.1% in the first quarter. American International Group Inc. now owns 9,526 shares of the insurance provider’s stock worth $261,000 after purchasing an additional 635 shares in the last quarter. First Trust Advisors LP purchased a new stake in shares of State Auto Financial Corporation in the second quarter worth $389,000. Nationwide Fund Advisors increased its stake in shares of State Auto Financial Corporation by 3.1% in the first quarter. Nationwide Fund Advisors now owns 14,509 shares of the insurance provider’s stock worth $398,000 after purchasing an additional 435 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of State Auto Financial Corporation in the first quarter worth $425,000. 32.84% of the stock is owned by hedge funds and other institutional investors.

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Shares of State Auto Financial Corporation (STFC) opened at 25.70 on Wednesday. The stock has a market capitalization of $1.08 billion, a PE ratio of 23.17 and a beta of 0.86. The stock has a 50 day moving average of $24.94 and a 200-day moving average of $25.42. State Auto Financial Corporation has a 52 week low of $19.54 and a 52 week high of $27.97.

State Auto Financial Corporation (NASDAQ:STFC) last posted its earnings results on Tuesday, August 8th. The insurance provider reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.12. State Auto Financial Corporation had a net margin of 3.33% and a return on equity of 1.46%. The firm had revenue of $339.90 million during the quarter, compared to analysts’ expectations of $341.30 million. During the same period in the previous year, the business posted ($0.69) EPS. The business’s revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts expect that State Auto Financial Corporation will post ($0.29) EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Wednesday, September 13th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend was Tuesday, September 12th. State Auto Financial Corporation’s dividend payout ratio is currently 35.71%.

STFC has been the subject of a number of analyst reports. Zacks Investment Research raised shares of State Auto Financial Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. BidaskClub cut shares of State Auto Financial Corporation from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 16th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $26.00 price objective on shares of State Auto Financial Corporation in a research note on Friday, August 18th. Finally, ValuEngine raised shares of State Auto Financial Corporation from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. State Auto Financial Corporation presently has an average rating of “Hold” and a consensus price target of $26.00.

About State Auto Financial Corporation

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 Corporation (NASDAQ:STFC)

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