Safety Insurance Group (NASDAQ:SAFT) Raised to Buy 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.

Safety Insurance Group Stock Performance

Shares of SAFT opened at $83.55 on Thursday. The business’s 50-day moving average is $82.27 and its two-hundred day moving average is $80.42. The company has a market capitalization of $1.24 billion, a P/E ratio of 24.08 and a beta of 0.17. Safety Insurance Group has a fifty-two week low of $65.78 and a fifty-two week high of $89.46.

Safety Insurance Group (NASDAQ:SAFT) last posted its earnings results on Wednesday, August 7th. The insurance provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.12). The company had revenue of $269.78 million for the quarter. Safety Insurance Group had a return on equity of 5.53% and a net margin of 4.96%.

Safety Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, September 3rd will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 4.31%. The ex-dividend date is Tuesday, September 3rd. Safety Insurance Group’s dividend payout ratio is currently 103.75%.

Insider Activity at Safety Insurance Group

In other Safety Insurance Group news, VP Glenn Hiltpold sold 338 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $76.75, for a total value of $25,941.50. Following the completion of the transaction, the vice president now owns 11,593 shares in the company, valued at $889,762.75. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Bessemer Group Inc. increased its holdings in 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 in the last quarter. SG Americas Securities LLC acquired a new position in shares of Safety Insurance Group during the 1st quarter worth about $152,000. Mutual of America Capital Management LLC purchased a new position in Safety Insurance Group in the 1st quarter valued at about $210,000. ProShare Advisors LLC lifted its stake in Safety Insurance Group by 7.3% in the 1st quarter. ProShare Advisors LLC now owns 2,905 shares of the insurance provider’s stock valued at $239,000 after buying an additional 198 shares in the last quarter. Finally, UniSuper Management Pty Ltd acquired a new stake in Safety Insurance Group in the 1st quarter worth about $288,000. 81.04% of the stock is owned by institutional investors and hedge funds.

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.