IndexIQ Advisors LLC Raises Stock Holdings in State Auto Financial Co. (NASDAQ:STFC)

IndexIQ Advisors LLC raised its position in State Auto Financial Co. (NASDAQ:STFC) by 185.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 58,673 shares of the insurance provider’s stock after acquiring an additional 38,147 shares during the quarter. IndexIQ Advisors LLC owned approximately 0.13% of State Auto Financial worth $2,989,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of STFC. Strs Ohio bought a new position in shares of State Auto Financial in the third quarter worth about $40,000. Morgan Stanley lifted its stake in State Auto Financial by 182.6% in the 2nd quarter. Morgan Stanley now owns 7,872 shares of the insurance provider’s stock valued at $135,000 after buying an additional 5,086 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in State Auto Financial in the 3rd quarter valued at about $229,000. The Manufacturers Life Insurance Company raised its holdings in State Auto Financial by 15.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,607 shares of the insurance provider’s stock valued at $233,000 after acquiring an additional 1,772 shares during the last quarter. Finally, Independent Advisor Alliance acquired a new stake in shares of State Auto Financial during the 3rd quarter worth approximately $349,000. 35.03% of the stock is currently owned by hedge funds and other institutional investors.

Separately, Zacks Investment Research upgraded State Auto Financial from a “strong sell” rating to a “hold” rating in a report on Thursday, January 6th.

In related news, SVP Jason Earl Berkey sold 3,969 shares of the business’s stock in a transaction dated Tuesday, November 9th. The stock was sold at an average price of $51.53, for a total transaction of $204,522.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Matthew Stanley Mrozek sold 8,400 shares of the company’s stock in a transaction that occurred on Friday, November 19th. The shares were sold at an average price of $51.38, for a total value of $431,592.00. The disclosure for this sale can be found here. Insiders have sold 238,171 shares of company stock valued at $12,255,566 over the last 90 days. 2.02% of the stock is currently owned by insiders.

Shares of STFC stock opened at $51.80 on Friday. The firm has a market cap of $2.31 billion, a P/E ratio of 31.98 and a beta of 0.34. State Auto Financial Co. has a 1-year low of $16.16 and a 1-year high of $51.90. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.06 and a quick ratio of 0.06. The firm’s 50-day simple moving average is $51.55 and its 200-day simple moving average is $48.92.

State Auto Financial (NASDAQ:STFC) last issued its quarterly earnings data on Thursday, November 4th. The insurance provider reported ($0.18) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.26). State Auto Financial had a net margin of 4.32% and a return on equity of 2.72%. The firm had revenue of $399.20 million during the quarter, compared to analyst estimates of $394.70 million. Analysts expect that State Auto Financial Co. will post -0.93 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 28th. Stockholders of record on Wednesday, December 15th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend was Tuesday, December 14th. State Auto Financial’s dividend payout ratio (DPR) is presently 24.69%.

About State Auto Financial

State Auto Financial Corp. is a property and casualty insurance holding company, which engages in the provision of insurance services. It operates through the following segments: Personal Insurance, Commercial Insurance, and Investment Operations. The Personal Insurance segment comprises personal auto, homeowners, and other personal insurance.

See Also: Quantitative Easing

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

Receive News & Ratings for State Auto Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for State Auto Financial and related companies with MarketBeat.com's FREE daily email newsletter.