Safety Insurance Group (NASDAQ:SAFT) Upgraded at Wall Street Zen

Safety Insurance Group (NASDAQ:SAFT) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Safety Insurance Group in a report on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Safety Insurance Group Stock Down 0.2%

SAFT opened at $77.63 on Friday. Safety Insurance Group has a 12 month low of $67.04 and a 12 month high of $84.20. The business has a 50-day moving average of $77.72 and a two-hundred day moving average of $74.80. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.41 and a quick ratio of 0.41. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 11.59 and a beta of 0.22.

Safety Insurance Group (NASDAQ:SAFT) last released its earnings results on Wednesday, February 25th. The insurance provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.23. Safety Insurance Group had a net margin of 7.85% and a return on equity of 9.69%. The business had revenue of $319.34 million for the quarter.

Insider Activity

In other news, major shareholder Corp Srb sold 11,487 shares of the firm’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $78.36, for a total value of $900,121.32. Following the transaction, the insider owned 1,821,510 shares of the company’s stock, valued at approximately $142,733,523.60. This trade represents a 0.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 20,954 shares of company stock valued at $1,634,265 over the last ninety days. 2.00% of the stock is owned by corporate insiders.

Institutional Trading of Safety Insurance Group

A number of institutional investors have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC lifted its stake in shares of Safety Insurance Group by 159.3% in the third quarter. Exchange Traded Concepts LLC now owns 27,612 shares of the insurance provider’s stock worth $1,952,000 after acquiring an additional 16,964 shares in the last quarter. Creative Planning increased its holdings in Safety Insurance Group by 289.2% during the 2nd quarter. Creative Planning now owns 17,956 shares of the insurance provider’s stock worth $1,426,000 after purchasing an additional 13,342 shares during the last quarter. CWM LLC raised its position in shares of Safety Insurance Group by 65.8% in the 3rd quarter. CWM LLC now owns 19,822 shares of the insurance provider’s stock valued at $1,401,000 after purchasing an additional 7,865 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Safety Insurance Group by 50.3% during the 3rd quarter. Teacher Retirement System of Texas now owns 70,705 shares of the insurance provider’s stock valued at $4,998,000 after buying an additional 23,671 shares during the last quarter. Finally, AMG National Trust Bank acquired a new stake in shares of Safety Insurance Group during the second quarter worth approximately $1,464,000. 81.04% of the stock is owned by hedge funds and other institutional investors.

Safety Insurance Group Company Profile

Safety Insurance Group, Inc is a publicly traded property and casualty insurance holding company incorporated in Massachusetts in 1994. Its principal subsidiary, Safety Insurance Company, traces its roots back to 1923 and has since evolved into a regional personal lines insurer. The company is headquartered in Boston, Massachusetts, and trades on the Nasdaq under the symbol SAFT.

Safety Insurance Group focuses primarily on private passenger automobile and homeowners insurance products, along with dwelling fire, umbrella liability, and certain commercial auto coverages.