Zacks jack-up State Auto Financial (NASDAQ:STFC) rating to “outperform”

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Dallas, Texas 09/05/2013 (Financialstrend) – State Auto Financial (NASDAQ:STFC) shares were upgraded by Zacks analysts from a “neutral” to an “outperform” rating on Monday and the current price-target on the stock is $23.40. Numerous other analysts have also weighed on the STFC stock. Keefe, Bruyette & Woods analysts raised their price-target on the company stock from $17.00 to $21.50 on 2 August in a research note to investors.

Sandler O’Neil analysts raised their price-target from $18.00 to $20.00 and currently have a “hold” rating in the stock. Ativo Research analysts have downgraded the company’s stock from a “neutral” to an “unfavorable” rating on 22 June.

One research-analyst has assigned a “sell” rating on the stock while 1 has assigned a “hold” rating. Two analysts have assigned a “buy” rating and the consensus rating on the company stock is a “hold” and the average price-target is $19.85.

The dividend

Very recently, State Auto Financial announced its quarterly dividend. It is scheduled for 30 September and stockholders of record 11 September 2103 will be eligible to receive this dividend of $0.10/share. This represents a $0.04 annualized-dividend and a 2.09% dividend yield. Monday 9 September is the ex-dividend date.

STFC stock dipped by 1.78% in Wednesday’s trading session. The opening price of the shares was $19.12 which touched an intraday high of $19.17 and closed at $18.79. More than 0.101 million shares were traded on Wednesday and the average volume of shares traded over 30 days was 0.194 million. The company has a market cap of 763.46 million.

About STFC

STFC is a casualty and property insurance-holding company. It is involved in writing business and personal lines of insurance. State Auto P&C, Farmers and SA Ohio and Milbank are the company’s subsidiaries. All these companies are involved in casualty and property insurance. Stateco, another one of its subsidiaries provides various investment-management services to its affiliated insurance companies.