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

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

Safety Insurance Group Stock Performance

Shares of SAFT stock opened at $84.86 on Thursday. The stock’s fifty day moving average is $81.88 and its two-hundred day moving average is $80.76. The firm has a market capitalization of $1.26 billion, a P/E ratio of 16.80 and a beta of 0.17. Safety Insurance Group has a fifty-two week low of $71.99 and a fifty-two week 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 company had revenue of $295.28 million for the quarter. Safety Insurance Group had a return on equity of 6.35% and a net margin of 6.86%.

Insider Transactions at Safety Insurance Group

In other news, VP Glenn Hiltpold sold 389 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $84.41, for a total value of $32,835.49. Following the completion of the sale, the vice president now directly owns 11,204 shares of the company’s stock, valued at approximately $945,729.64. This represents a 3.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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 the stock. Jacobs Levy Equity Management Inc. increased its position in Safety Insurance Group by 113.2% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 54,929 shares of the insurance provider’s stock worth $4,515,000 after purchasing an additional 29,167 shares in the last quarter. Vanguard Group Inc. lifted its stake 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 valued at $139,379,000 after purchasing an additional 54,441 shares in the last quarter. Creative Planning acquired a new position in shares of Safety Insurance Group in the 3rd quarter valued at about $299,000. International Assets Investment Management LLC lifted its stake 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 valued at $1,338,000 after purchasing an additional 16,156 shares in the last quarter. Finally, Bessemer Group Inc. lifted its stake 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 valued at $26,000 after purchasing an additional 257 shares in the last quarter. 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.