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STFC State Auto Financial

State Auto Financial Corporation, headquartered in Columbus, Ohio, is a super regional property and casualty insurance holding company. STFC stock is traded on the NASDAQ Global Select Market, which represents the top fourth of all NASDAQ listed companies.

Company profile

STFC stock data

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Calendar

7 May 21
31 Jul 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 59.1M 59.1M 59.1M 59.1M 59.1M 59.1M
Cash burn (monthly) 10.53M 5.63M (positive/no burn) (positive/no burn) 6.3M (positive/no burn)
Cash used (since last report) 42.32M 22.6M n/a n/a 25.31M n/a
Cash remaining 16.78M 36.5M n/a n/a 33.79M n/a
Runway (months of cash) 1.6 6.5 n/a n/a 5.4 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Jul 21 Melissa A Centers Common Shares without Par Value Grant Aquire A No No 17.78 13.71 243.76 -
1 Jul 21 State Automobile Mutual Insurance Common Shares without par value Other Dispose J No No 17.78 3,793.614 67.45K 22,155.46
14 May 21 Roberts Sharon Elaine Restricted Share Units Common Stock Grant Aquire A No No 0 4,105 0 52,721.248
14 May 21 Pouraghabagher Setareh Restricted Share Units Common Stock Grant Aquire A No No 0 4,105 0 15,576.94
14 May 21 Hubbard Kym Marie Restricted Share Units Common Stock Grant Aquire A No No 0 4,105 0 18,094.414

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

33.6% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 89 93 -4.3%
Opened positions 10 14 -28.6%
Closed positions 14 11 +27.3%
Increased positions 25 29 -13.8%
Reduced positions 29 32 -9.4%
13F shares
Current Prev Q Change
Total value 680.39M 342.5M +98.7%
Total shares 14.81M 14.72M +0.6%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
TROW T. Rowe Price 3.9M $76.8M +6.0%
Dimensional Fund Advisors 2.08M $40.91M -1.3%
Victory Capital Management 1.99M $39.29M -0.7%
Vanguard 1.62M $31.97M +8.4%
BLK Blackrock 1.41M $27.7M +9.2%
STT State Street 333.3K $6.57M -7.1%
Geode Capital Management 298.96K $5.89M +7.6%
BAC Bank Of America 261.09K $5.15M +46.1%
WFC Wells Fargo & Co. 259.49K $5.11M +10.7%
Heartland Advisors 250K $4.93M 0.0%
Largest transactions
Shares Bought/sold Change
Norges Bank 0 -258.46K EXIT
TROW T. Rowe Price 3.9M +220.38K +6.0%
Philadelphia Financial Management of San Francisco 0 -153.17K EXIT
Vanguard 1.62M +125.03K +8.4%
BLK Blackrock 1.41M +118.51K +9.2%
BAC Bank Of America 261.09K +82.32K +46.1%
GS Goldman Sachs 77.6K +65.9K +563.6%
Renaissance Technologies 63.59K -51.78K -44.9%
Full18 Capital 42.07K +42.07K NEW
Hotchkis & Wiley Capital Management 220.6K +39.66K +21.9%

Financial report summary

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Risks
  • A downgrade in our financial strength ratings may negatively affect our business and reputation and a downgrade in our credit rating could negatively affect the cost and availability of debt financing.
  • There can be no assurance that we will continue to pay cash dividends consistent with current or past levels.
  • TECHNOLOGY AND TELECOMMUNICATION SYSTEMS
  • Our business success and profitability depend, in part, on effective information technology and telecommunication systems. If we are unable to keep pace with the rapidly developing technological advancements in the insurance industry, our ability to compete effectively could be impaired.
  • If we experience difficulties with outsourcing or other third party relationships, our ability to conduct business might be negatively impacted.
  • Our independent agents, who are part of the independent agency distribution channel, are our sole distribution method for our personal and commercial insurance products. Our exclusive use of such distribution may constrain our ability to grow at a comparable pace to our competitors that utilize multiple distribution channels. In addition, consumers may prefer to purchase insurance products through other means, such as the internet, rather than through agents.
  • The insurance marketplace is evolving and independent insurance agency distribution systems are growing rapidly. Our success depends on our ability and our independent agents’ ability to react to these changes.
  • CONTROL BY OUR PARENT COMPANY
  • State Auto Mutual owns a significant interest in us and may exercise its control in a manner detrimental to the interests of other STFC shareholders.
  • If our estimated liability for losses and loss expenses is incorrect, our loss reserves may be inadequate to cover our ultimate liability for losses and loss expenses and may have to be increased.
  • CATASTROPHE LOSSES AND GEOGRAPHIC CONCENTRATIONS
  • The occurrence of catastrophic events could cause volatility in our results of operations and could materially reduce our level of profitability and adversely affect our liquidity and financial position.
  • Our financial results depend primarily on our ability to underwrite risks effectively and to charge adequate rates to policyholders.
  • Loss of key vendor relationships or failure of a vendor to perform as anticipated or to protect personal information of our customers, claimants or employees could negatively affect our operations.
  • Our highly automated and networked organization is subject to cyberterrorism and a variety of other cybersecurity threats. These threats come in a variety of forms, such as viruses and malicious software. Such threats can be difficult to prevent or detect, and if experienced, could interrupt or damage our operations, harm our reputation or have a material adverse effect on our operations.
  • Privacy protection requirements for consumers are expanding from simply protecting personal information to a more consumer-driven model that allows individuals in some respects to control a company's ongoing storage and use of their personal information. Our failure to comply with such privacy laws could have an adverse effect on our business.
  • Our business depends on the uninterrupted operation of our facilities, systems and business functions, including our information technology, telecommunications and other business systems. Our business continuity and disaster recovery plans may not sufficiently address all contingencies.
  • Reinsurance may not be available, collectible or adequate to protect us against losses, or may cause us to constrain the amount of business we underwrite in certain lines of business and locations.
  • CYCLICAL NATURE OF THE INDUSTRY
  • The property and casualty insurance industry is cyclical, which may cause fluctuations in our operating results.
  • Economic conditions may adversely affect our business.
  • Adverse capital and credit market conditions may negatively affect our ability to meet unexpected liquidity needs or to obtain credit on acceptable terms.
  • Our business is heavily regulated, and changes in regulation may reduce our profitability and limit our growth.
  • Tax legislation initiatives or challenges to our tax positions could adversely affect our results of operations and financial condition.
  • CLAIM AND COVERAGE DEVELOPMENTS
  • Developing claim and coverage issues in our industry are uncertain and may adversely affect our insurance operations.
  • We may suffer losses from litigation, which could materially and adversely affect our operating results or cash flows and financial condition.
  • Terrorist attacks, and the threat of terrorist attacks, and ensuing events could have an adverse effect on us.
  • The performance of our investment portfolios is subject to various investment risks, such as market, credit, concentration, liquidity, and interest rate risks. Such risks could result in material adverse effects to our results of operations, cash flows and financial position.
  • Our ability to attract, develop and retain talented employees, managers and executives, and to maintain appropriate staffing levels, is critical to our success, as is our ability to effectively plan for the succession and transition of key executives and subject matter experts.
  • Changes in U.S. immigration policies and laws could impact our ability to hire and retain foreign national employees working under visas, which could adversely affect our operations.
  • Our industry is highly competitive, which could adversely affect our sales and profitability.
  • CHANGES IN ACCOUNTING STANDARDS
  • Changes in accounting standards issued by the FASB or other standard-setting bodies may adversely affect our results of operations and financial condition.
Management Discussion
  • •For the three months ended March 31, 2021, net investment gain was $38.2 million, which included $31.5 million of gains recognized on equity securities.
  • •The SAP catastrophe loss and ALAE ratio for the three months ended March 31, 2021 was 20.1%, or $71.6 million. The 2021 first quarter was impacted by winter storms Uri and Viola in Texas, which added 17.0 points to the first quarter loss and ALAE ratio. Approximately 75% of the first quarter 2021 catastrophe losses occurred within homeowners.
  • •The SAP non-cat loss and ALAE ratio for the three months ended March 31, 2021 was 51.5%, or $183.1 million. Non-catastrophe losses and ALAE included 6.9 points of favorable development relating to prior years, or $24.6 million. For the 2021 first quarter, the commercial insurance segment and personal insurance segment contributed
Content analysis
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H.S. junior Avg
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