BNP Paribas Arbitrage SA Sells 6,485 Shares of State Auto Financial Co. (NASDAQ:STFC)

BNP Paribas Arbitrage SA reduced its holdings in shares of State Auto Financial Co. (NASDAQ:STFC) by 72.0% during the second quarter, Holdings Channel reports. The fund owned 2,526 shares of the insurance provider’s stock after selling 6,485 shares during the period. BNP Paribas Arbitrage SA’s holdings in State Auto Financial were worth $43,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Earnest Partners LLC grew its position in State Auto Financial by 2.6% during the first quarter. Earnest Partners LLC now owns 90,869 shares of the insurance provider’s stock valued at $1,791,000 after acquiring an additional 2,337 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of State Auto Financial during the first quarter valued at approximately $228,000. Goldman Sachs Group Inc. boosted its stake in shares of State Auto Financial by 563.6% during the first quarter. Goldman Sachs Group Inc. now owns 77,596 shares of the insurance provider’s stock valued at $1,529,000 after purchasing an additional 65,903 shares during the period. UBS Group AG boosted its stake in shares of State Auto Financial by 277.4% during the first quarter. UBS Group AG now owns 49,003 shares of the insurance provider’s stock valued at $966,000 after purchasing an additional 36,018 shares during the period. Finally, IndexIQ Advisors LLC boosted its stake in shares of State Auto Financial by 2.3% during the second quarter. IndexIQ Advisors LLC now owns 20,526 shares of the insurance provider’s stock valued at $351,000 after purchasing an additional 458 shares during the period. Institutional investors and hedge funds own 33.27% of the company’s stock.

STFC has been the subject of a number of research analyst reports. Zacks Investment Research lowered State Auto Financial from a “hold” rating to a “sell” rating in a research note on Friday, August 27th. Piper Sandler lowered their price objective on State Auto Financial from $20.00 to $18.00 and set a “neutral” rating for the company in a research report on Friday, July 9th.

In related news, SVP Steven Eugene English sold 36,582 shares of State Auto Financial stock in a transaction dated Wednesday, August 25th. The stock was sold at an average price of $50.06, for a total value of $1,831,294.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Matthew Stanley Mrozek sold 16,596 shares of State Auto Financial stock in a transaction dated Friday, August 20th. The stock was sold at an average price of $49.90, for a total value of $828,140.40. The disclosure for this sale can be found here. Insiders sold a total of 122,738 shares of company stock valued at $6,150,588 over the last quarter. 2.02% of the stock is owned by corporate insiders.

Shares of NASDAQ:STFC opened at $51.14 on Thursday. State Auto Financial Co. has a 1-year low of $12.07 and a 1-year high of $51.51. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. The business has a fifty day moving average price of $50.68 and a 200-day moving average price of $33.82. The company has a market capitalization of $2.26 billion, a PE ratio of 23.25 and a beta of 0.39.

State Auto Financial (NASDAQ:STFC) last issued its quarterly earnings results on Wednesday, August 4th. The insurance provider reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.46). State Auto Financial had a net margin of 5.88% and a return on equity of 3.12%. The company had revenue of $387.60 million for the quarter, compared to the consensus estimate of $387.00 million. On average, sell-side analysts anticipate that State Auto Financial Co. will post -0.03 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 27th. Investors of record on Wednesday, September 15th were issued a $0.10 dividend. The ex-dividend date was Tuesday, September 14th. This represents a $0.40 annualized dividend and a yield of 0.78%. State Auto Financial’s payout ratio is -210.53%.

State Auto Financial Profile

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.

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

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