StockNews.com Downgrades Safety Insurance Group (NASDAQ:SAFT) to Hold

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

Safety Insurance Group Stock Performance

NASDAQ SAFT opened at $76.14 on Thursday. The business has a fifty day moving average price of $79.22 and a 200 day moving average price of $81.78. Safety Insurance Group has a one year low of $73.38 and a one year high of $90.00. The company has a market cap of $1.13 billion, a P/E ratio of 15.08 and a beta of 0.20.

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

Institutional Trading of Safety Insurance Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. TimesSquare Capital Management LLC increased its stake in shares of Safety Insurance Group by 17.5% in the 4th quarter. TimesSquare Capital Management LLC now owns 602,449 shares of the insurance provider’s stock worth $49,642,000 after acquiring an additional 89,561 shares during the last quarter. State Street Corp grew its holdings in shares of Safety Insurance Group by 0.5% during the 3rd quarter. State Street Corp now owns 589,457 shares of the insurance provider’s stock worth $48,206,000 after purchasing an additional 2,682 shares during the period. Geode Capital Management LLC grew its holdings 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 purchasing an additional 2,435 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Safety Insurance Group by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 239,565 shares of the insurance provider’s stock worth $19,740,000 after purchasing an additional 6,542 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Safety Insurance Group by 46.4% during the 4th quarter. Bank of New York Mellon Corp now owns 219,960 shares of the insurance provider’s stock worth $18,125,000 after purchasing an additional 69,750 shares during the period. 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.