State Auto (STFC) Shares Get a Boost From Janney Upgrade

Shares of State Auto Financial (Nasdaq: STFC) are trading up almost 6 percent Thursday following some help from an analyst at Janney Montgomery Scott. The move higher comes amid an about 1 percent decline in the US's major indices.

The firm's Larry Greenberg upgraded shares of State Auto from Neutral to Buy.

This morning's bounce, however, is a small move relative to the last nine months of action. State Auto shares hit a 52-week high of $18.35 back on March 31, 2011, but have come tumbling down since, falling all the way to a low of $10.09 on November 25, 2011.

STFC shares have been hovering around the $11-13 range for the past few months.

While State Auto Financial currently pays a quarterly dividend $0.15 (a yield of about 5.00 percent on an annual basis), the company's balance sheet is in the red.

The Street's FY11 consensus EPS estimate is sitting at a loss of $5.29; the FY12 outlook suggests the company will turn a profit next year.

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