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

Safety Insurance Group (NASDAQ:SAFT) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

Safety Insurance Group Stock Performance

SAFT opened at $83.55 on Thursday. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 24.10 and a beta of 0.17. Safety Insurance Group has a one year low of $65.78 and a one year high of $89.46. The business’s fifty day moving average is $82.10 and its two-hundred day moving average is $80.44.

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

Insider Buying and Selling

In other Safety Insurance Group news, VP Glenn Hiltpold sold 338 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $76.75, for a total transaction of $25,941.50. Following the completion of the transaction, the vice president now owns 11,593 shares of the company’s stock, valued at $889,762.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Safety Insurance Group

Several hedge funds have recently modified their holdings of SAFT. International Assets Investment Management LLC lifted its stake in shares of Safety Insurance Group by 7,499.0% during the fourth quarter. International Assets Investment Management LLC now owns 15,198 shares of the insurance provider’s stock valued at $1,155,000 after buying an additional 14,998 shares during the period. Russell Investments Group Ltd. grew its stake in Safety Insurance Group by 12.7% in the 4th quarter. Russell Investments Group Ltd. now owns 18,109 shares of the insurance provider’s stock worth $1,376,000 after acquiring an additional 2,042 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Safety Insurance Group by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 216,496 shares of the insurance provider’s stock valued at $16,452,000 after acquiring an additional 9,803 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in shares of Safety Insurance Group by 7.6% during the 4th quarter. Teacher Retirement System of Texas now owns 4,908 shares of the insurance provider’s stock worth $373,000 after purchasing an additional 345 shares during the period. Finally, Hsbc Holdings PLC boosted its holdings in shares of Safety Insurance Group by 1,429.7% during the fourth quarter. Hsbc Holdings PLC now owns 71,361 shares of the insurance provider’s stock worth $5,402,000 after purchasing an additional 66,696 shares during 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.