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 released on Thursday.

Safety Insurance Group Trading Down 0.2 %

NASDAQ:SAFT opened at $84.86 on Thursday. The company has a 50-day moving average price of $81.88 and a 200-day moving average price of $80.76. Safety Insurance Group has a 12 month low of $71.99 and a 12 month high of $90.00. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 16.80 and a beta of 0.17.

Safety Insurance Group (NASDAQ:SAFT) last released its quarterly earnings data on Tuesday, November 5th. The insurance provider reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.30). The firm had revenue of $295.28 million for the quarter. Safety Insurance Group had a net margin of 6.86% and a return on equity of 6.35%.

Insider Activity at Safety Insurance Group

In other news, VP Glenn Hiltpold sold 389 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $84.41, for a total value of $32,835.49. Following the transaction, the vice president now directly owns 11,204 shares in the company, valued at approximately $945,729.64. This represents a 3.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.00% of the stock is owned by insiders.

Institutional Trading of Safety Insurance Group

A number of hedge funds have recently added to or reduced their stakes in SAFT. Bessemer Group Inc. lifted its position in shares of Safety Insurance Group by 458.9% during the first quarter. Bessemer Group Inc. now owns 313 shares of the insurance provider’s stock valued at $26,000 after buying an additional 257 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Safety Insurance Group in the 1st quarter valued at approximately $152,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of Safety Insurance Group in the 3rd quarter valued at approximately $202,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Safety Insurance Group in the 3rd quarter valued at approximately $213,000. Finally, ProShare Advisors LLC raised its position in shares of Safety Insurance Group by 7.3% in the 1st quarter. ProShare Advisors LLC now owns 2,905 shares of the insurance provider’s stock valued at $239,000 after purchasing an additional 198 shares during the last quarter. 81.04% of the stock is owned by hedge funds and other institutional investors.

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.