Safety Insurance Group (NASDAQ:SAFT) Stock Rating Upgraded by StockNews.com

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

Safety Insurance Group Stock Down 0.2 %

Shares of NASDAQ:SAFT opened at $84.86 on Thursday. The company’s 50-day moving average price is $81.91 and its 200 day moving average price is $80.81. The company has a market cap of $1.26 billion, a PE ratio of 16.80 and a beta of 0.17. Safety Insurance Group has a fifty-two week low of $71.99 and a fifty-two week high of $90.00.

Safety Insurance Group (NASDAQ:SAFT) last released its quarterly earnings results on Tuesday, November 5th. The insurance provider reported $1.10 earnings per share 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 net margin of 6.86% and a return on equity of 6.35%.

Safety Insurance Group Announces Dividend

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

Insider Activity

In related news, VP Glenn Hiltpold sold 389 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $84.41, for a total value of $32,835.49. Following the completion of the sale, the vice president now owns 11,204 shares of the company’s stock, valued at $945,729.64. This represents a 3.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Safety Insurance Group

Large investors have recently bought and sold shares of the stock. Bessemer Group Inc. lifted its stake in shares of Safety Insurance Group by 458.9% in the 1st quarter. Bessemer Group Inc. now owns 313 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 257 shares during the period. SG Americas Securities LLC bought a new stake in Safety Insurance Group during the first quarter worth approximately $152,000. Robeco Institutional Asset Management B.V. acquired a new stake in Safety Insurance Group in the third quarter worth approximately $202,000. Dynamic Technology Lab Private Ltd bought a new position in Safety Insurance Group during the 3rd quarter valued at $213,000. Finally, ProShare Advisors LLC boosted its stake in Safety Insurance Group by 7.3% during the 1st quarter. ProShare Advisors LLC now owns 2,905 shares of the insurance provider’s stock valued at $239,000 after purchasing an additional 198 shares in the last quarter. Institutional investors and hedge funds own 81.04% of the company’s stock.

About Safety Insurance Group

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.