Safety Insurance Group (NASDAQ:SAFT) Rating Lowered to “Hold” at StockNews.com

StockNews.com lowered shares of Safety Insurance Group (NASDAQ:SAFT) from a buy rating to a hold rating in a report issued on Thursday.

Safety Insurance Group Trading Up 0.1 %

Shares of NASDAQ:SAFT opened at $76.14 on Thursday. Safety Insurance Group has a 12-month low of $73.38 and a 12-month high of $90.00. The company has a market capitalization of $1.13 billion, a PE ratio of 15.08 and a beta of 0.20. The business has a 50 day moving average of $79.22 and a two-hundred day moving average of $81.80.

Safety Insurance Group (NASDAQ:SAFT) last announced its earnings results on Tuesday, February 25th. The insurance provider reported $0.94 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.23). The business had revenue of $286.72 million for the quarter. Safety Insurance Group had a return on equity of 6.35% and a net margin of 6.86%.

Safety Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 4.73%. The ex-dividend date is Monday, March 3rd. Safety Insurance Group’s payout ratio is 75.47%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Jane Street Group LLC raised its stake in shares of Safety Insurance Group by 57.4% during the 3rd quarter. Jane Street Group LLC now owns 26,641 shares of the insurance provider’s stock worth $2,179,000 after buying an additional 9,713 shares during the period. Geode Capital Management LLC raised its stake in shares of Safety Insurance Group by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 355,390 shares of the insurance provider’s stock worth $29,070,000 after buying an additional 2,435 shares during the period. Barclays PLC increased its position in shares of Safety Insurance Group by 348.8% during the third quarter. Barclays PLC now owns 24,430 shares of the insurance provider’s stock worth $1,997,000 after purchasing an additional 18,987 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Safety Insurance Group by 5.8% during the third quarter. JPMorgan Chase & Co. now owns 174,859 shares of the insurance provider’s stock worth $14,300,000 after purchasing an additional 9,531 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Safety Insurance Group during the third quarter worth approximately $723,000. 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.