StockNews.com Upgrades Safety Insurance Group (NASDAQ:SAFT) to “Buy”

Safety Insurance Group (NASDAQ:SAFT) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

Safety Insurance Group Stock Performance

Shares of NASDAQ:SAFT opened at $85.84 on Thursday. The firm has a fifty day moving average price of $81.87 and a 200 day moving average price of $80.69. Safety Insurance Group has a fifty-two week low of $71.99 and a fifty-two week high of $90.00. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 17.00 and a beta of 0.17.

Safety Insurance Group (NASDAQ:SAFT) last issued its 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). Safety Insurance Group had a return on equity of 6.35% and a net margin of 6.86%. The company had revenue of $295.28 million for the quarter.

Insider Buying and Selling at Safety Insurance Group

In other Safety Insurance Group news, VP Glenn Hiltpold sold 389 shares of the stock in a transaction on Friday, September 6th. The shares were 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 owns 11,204 shares in the company, valued at $945,729.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Safety Insurance Group

Institutional investors have recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Safety Insurance Group by 113.2% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 54,929 shares of the insurance provider’s stock worth $4,515,000 after acquiring an additional 29,167 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Safety Insurance Group by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 1,695,813 shares of the insurance provider’s stock worth $139,379,000 after acquiring an additional 54,441 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Safety Insurance Group by 8,078.0% in the 3rd quarter. International Assets Investment Management LLC now owns 16,356 shares of the insurance provider’s stock worth $1,338,000 after acquiring an additional 16,156 shares during the last quarter. Bessemer Group Inc. lifted its holdings 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 last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Safety Insurance Group by 2.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,192 shares of the insurance provider’s stock worth $1,660,000 after acquiring an additional 509 shares during the last quarter. 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.