Safety Insurance Group (NASDAQ:SAFT) Upgraded at StockNews.com

StockNews.com upgraded shares of Safety Insurance Group (NASDAQ:SAFT) from a hold rating to a buy rating in a research report sent to investors on Thursday morning.

Safety Insurance Group Price Performance

Safety Insurance Group stock opened at $84.86 on Thursday. The firm’s fifty day moving average price is $81.91 and its 200 day moving average price is $80.81. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 16.80 and a beta of 0.17. Safety Insurance Group has a 12-month low of $71.99 and a 12-month high of $90.00.

Safety Insurance Group (NASDAQ:SAFT) last announced its earnings results on Tuesday, November 5th. The insurance provider reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.30). The business had revenue of $295.28 million for the quarter. Safety Insurance Group had a return on equity of 6.35% and a net margin of 6.86%.

Safety Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend is Monday, December 2nd. Safety Insurance Group’s payout ratio is currently 71.29%.

Insider Buying and Selling

In related news, VP Glenn Hiltpold sold 389 shares of Safety Insurance Group stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $84.41, for a total value of $32,835.49. Following the completion of the transaction, the vice president now directly owns 11,204 shares in the company, valued at approximately $945,729.64. This trade represents a 3.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Texas Permanent School Fund Corp raised its position in shares of Safety Insurance Group by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 12,946 shares of the insurance provider’s stock valued at $1,064,000 after acquiring an additional 168 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Safety Insurance Group by 7.3% in the 1st quarter. ProShare Advisors LLC now owns 2,905 shares of the insurance provider’s stock worth $239,000 after buying an additional 198 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of Safety Insurance Group by 2.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 7,500 shares of the insurance provider’s stock valued at $563,000 after buying an additional 200 shares during the period. Bessemer Group Inc. grew its position in shares of Safety Insurance Group by 458.9% during the 1st quarter. Bessemer Group Inc. now owns 313 shares of the insurance provider’s stock valued at $26,000 after buying an additional 257 shares during the last quarter. Finally, US Bancorp DE raised its stake in Safety Insurance Group by 4.1% during the first quarter. US Bancorp DE now owns 7,199 shares of the insurance provider’s stock worth $592,000 after acquiring an additional 282 shares during the period. Institutional investors own 81.04% of the company’s stock.

Safety Insurance Group Company Profile

Safety Insurance Group, Inc provides private passenger and commercial automobile, and homeowner insurance in the United States. The company’s private passenger automobile policies offer coverage for bodily injury and property damage to others, no-fault personal injury coverage for the insured/insured’s car occupants, and physical damage coverage for an insured’s own vehicle for collision or other perils.