Zacks Investment Research Downgrades State Auto Financial (NASDAQ:STFC) to Sell

State Auto Financial (NASDAQ:STFC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday, Zacks.com reports.

According to Zacks, “State Auto Financial Corporation is an insurance holding company, which engages, through its subsidiaries, primarily in the property and casualty insurance business. The company’s principal subsidiary is State Auto Property and Casualty Insurance Company. State Auto P&C is a regional insurer engaged primarily in writing personal and commercial automobile, homeowners, commercial multi-peril, workers’ compensation and fire insurance. “

Separately, BidaskClub upgraded shares of Zumiez from a “sell” rating to a “hold” rating in a research note on Saturday, June 22nd.

Shares of STFC opened at $35.54 on Thursday. The firm has a market capitalization of $1.54 billion, a P/E ratio of 29.62 and a beta of 0.35. State Auto Financial has a twelve month low of $28.57 and a twelve month high of $36.45. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.14. The company has a 50 day moving average price of $34.87.

State Auto Financial (NASDAQ:STFC) last announced its earnings results on Thursday, May 2nd. The insurance provider reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.04). The firm had revenue of $367.60 million during the quarter, compared to analyst estimates of $328.55 million. State Auto Financial had a net margin of 4.87% and a return on equity of 6.86%. State Auto Financial’s revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the business earned $0.17 earnings per share. As a group, research analysts anticipate that State Auto Financial will post 1.72 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Victory Capital Management Inc. lifted its stake in shares of State Auto Financial by 0.4% during the first quarter. Victory Capital Management Inc. now owns 1,357,166 shares of the insurance provider’s stock worth $44,678,000 after buying an additional 5,350 shares during the period. BlackRock Inc. lifted its stake in shares of State Auto Financial by 2.3% during the fourth quarter. BlackRock Inc. now owns 1,151,130 shares of the insurance provider’s stock worth $39,185,000 after buying an additional 26,137 shares during the period. Norges Bank acquired a new stake in shares of State Auto Financial during the fourth quarter worth $13,649,000. Thrivent Financial for Lutherans lifted its stake in shares of State Auto Financial by 11.0% during the fourth quarter. Thrivent Financial for Lutherans now owns 383,838 shares of the insurance provider’s stock worth $13,066,000 after buying an additional 38,126 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of State Auto Financial by 7.2% during 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. Institutional investors and hedge funds own 33.49% 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.

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