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

StockNews.com cut shares of Safety Insurance Group (NASDAQ:SAFT) from a buy rating to a hold rating in a research note released on Wednesday morning.

Safety Insurance Group Price Performance

SAFT opened at $86.36 on Wednesday. The business has a 50 day simple moving average of $81.88 and a 200-day simple moving average of $80.59. The stock has a market capitalization of $1.28 billion, a P/E ratio of 17.10 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 posted its quarterly earnings results on Tuesday, November 5th. The insurance provider reported $1.10 EPS for the quarter, missing the consensus estimate of $1.40 by ($0.30). The business had revenue of $295.28 million during the quarter. Safety Insurance Group had a net margin of 6.86% and a return on equity of 6.35%.

Safety Insurance Group Dividend Announcement

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 issued a $0.90 dividend. The ex-dividend date is Monday, December 2nd. This represents a $3.60 annualized dividend and a dividend yield of 4.17%. Safety Insurance Group’s dividend 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 on Friday, September 6th. The stock was sold at an average price of $84.41, for a total transaction of $32,835.49. Following the completion of the transaction, the vice president now directly owns 11,204 shares of the company’s stock, valued at approximately $945,729.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 915 shares of company stock valued at $75,125. 2.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Safety Insurance Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bessemer Group Inc. raised its holdings in Safety Insurance Group by 458.9% during the first quarter. Bessemer Group Inc. now owns 313 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 257 shares during the last quarter. SG Americas Securities LLC purchased a new position in Safety Insurance Group during the first quarter worth $152,000. Robeco Institutional Asset Management B.V. purchased a new position in Safety Insurance Group during the third quarter worth $202,000. Mutual of America Capital Management LLC purchased a new position in Safety Insurance Group during the first quarter worth $210,000. Finally, ProShare Advisors LLC increased its position in Safety Insurance Group by 7.3% during the first quarter. ProShare Advisors LLC now owns 2,905 shares of the insurance provider’s stock worth $239,000 after buying an additional 198 shares in the last quarter. 81.04% of the stock is owned by institutional investors and hedge funds.

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.