Safety Insurance Group, Inc. (SAFT) Given Average Recommendation of “Hold” by Analysts

Safety Insurance Group, Inc. (NASDAQ:SAFT) has been assigned a consensus broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating.

Zacks has also assigned Safety Insurance Group an industry rank of 66 out of 255 based on the ratings given to related companies.

Several research analysts have commented on the stock. BidaskClub downgraded shares of Safety Insurance Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 13th. ValuEngine upgraded shares of Safety Insurance Group from a “hold” rating to a “buy” rating in a research report on Saturday, June 2nd.

NASDAQ:SAFT traded down $0.75 during mid-day trading on Wednesday, reaching $89.35. The company’s stock had a trading volume of 1,756 shares, compared to its average volume of 43,099. Safety Insurance Group has a twelve month low of $70.45 and a twelve month high of $99.70. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 20.54 and a beta of 0.59.

Safety Insurance Group (NASDAQ:SAFT) last released its quarterly earnings results on Friday, August 3rd. The insurance provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.26. Safety Insurance Group had a net margin of 7.73% and a return on equity of 9.74%. The company had revenue of $207.97 million during the quarter.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Tuesday, September 4th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Friday, August 31st. This represents a $3.20 annualized dividend and a yield of 3.58%.

In other Safety Insurance Group news, Director Frederic H. Lindeberg sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $92.45, for a total transaction of $92,450.00. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $1,386,750. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David D. Mckown sold 3,765 shares of the business’s stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $98.67, for a total transaction of $371,492.55. Following the transaction, the director now owns 5,735 shares of the company’s stock, valued at $565,872.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,000 shares of company stock valued at $583,157. Company insiders own 4.90% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of SAFT. Wells Fargo & Company MN grew its stake in shares of Safety Insurance Group by 1.7% during the first quarter. Wells Fargo & Company MN now owns 86,036 shares of the insurance provider’s stock worth $6,611,000 after buying an additional 1,448 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Safety Insurance Group during the first quarter worth $192,000. Prudential Financial Inc. grew its stake in shares of Safety Insurance Group by 25.5% during the first quarter. Prudential Financial Inc. now owns 33,794 shares of the insurance provider’s stock worth $2,597,000 after buying an additional 6,861 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Safety Insurance Group by 12.2% during the first quarter. Schwab Charles Investment Management Inc. now owns 150,787 shares of the insurance provider’s stock worth $11,588,000 after buying an additional 16,344 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Safety Insurance Group by 1.1% during the first quarter. Northern Trust Corp now owns 541,363 shares of the insurance provider’s stock worth $41,604,000 after buying an additional 5,639 shares during the last quarter. 80.16% of the stock is currently owned by hedge funds and other institutional investors.

Safety Insurance Group Company Profile

Safety Insurance Group, Inc provides private passenger and commercial automobile insurance in Massachusetts, New Hampshire, and Maine, 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.

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