Zacks: Safety Insurance Group, Inc. (SAFT) Given Average Recommendation of “Strong Sell” by Analysts

Safety Insurance Group, Inc. (NASDAQ:SAFT) has been assigned a consensus broker rating score of 5.00 (Strong Sell) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong sell rating.

Zacks has also assigned Safety Insurance Group an industry rank of 92 out of 265 based on the ratings given to its competitors.

Several research analysts have recently weighed in on SAFT shares. BidaskClub lowered Safety Insurance Group from a “buy” rating to a “hold” rating in a research report on Thursday, December 21st. Compass Point lowered Safety Insurance Group from a “neutral” rating to a “sell” rating in a research report on Monday, October 16th.

Safety Insurance Group (SAFT) opened at $78.70 on Friday. Safety Insurance Group has a 12-month low of $65.75 and a 12-month high of $84.00. The firm has a market capitalization of $1,189.35, a PE ratio of 18.96 and a beta of 0.79.

The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date of this dividend was Thursday, November 30th. Safety Insurance Group’s payout ratio is 77.11%.

In related news, Director Frederic H. Lindeberg sold 1,000 shares of the business’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $83.16, for a total value of $83,160.00. Following the completion of the sale, the director now directly owns 19,000 shares of the company’s stock, valued at approximately $1,580,040. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frederic H. Lindeberg sold 2,000 shares of the business’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $82.35, for a total value of $164,700.00. Following the completion of the sale, the director now directly owns 20,000 shares of the company’s stock, valued at $1,647,000. The disclosure for this sale can be found here. Insiders sold a total of 33,505 shares of company stock valued at $2,712,266 over the last ninety days. 4.90% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC increased its holdings in Safety Insurance Group by 67.2% during the 3rd quarter. SG Americas Securities LLC now owns 2,450 shares of the insurance provider’s stock worth $187,000 after purchasing an additional 985 shares in the last quarter. Grimes & Company Inc. bought a new stake in Safety Insurance Group during the 3rd quarter worth approximately $217,000. Neuberger Berman Group LLC bought a new stake in Safety Insurance Group during the 3rd quarter worth approximately $220,000. Piedmont Investment Advisors LLC bought a new stake in Safety Insurance Group during the 2nd quarter worth approximately $211,000. Finally, Crossmark Global Holdings Inc. bought a new stake in Safety Insurance Group during the 3rd quarter worth approximately $329,000. 78.59% of the stock is owned by hedge funds and other institutional investors.

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Safety Insurance Group Company Profile

Safety Insurance Group, Inc is a provider of private passenger automobile insurance. The Company offers a portfolio of property and casualty insurance products. The Company is engaged in property and casualty insurance operations. The Company’s product line includes private passenger automobile, commercial automobile, homeowners, business owners’ policies, personal umbrella, dwelling fire, commercial umbrella, inland marine and watercraft.

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