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

Safety Insurance Group (NASDAQ:SAFT) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other equities analysts also recently commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of Safety Insurance Group in a report on Friday, May 29th. Zacks Research upgraded Safety Insurance Group to a “hold” rating in a report on Wednesday, May 27th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Safety Insurance Group has a consensus rating of “Hold”.

Safety Insurance Group Stock Up 2.8%

Shares of NASDAQ:SAFT opened at $70.27 on Friday. The stock’s 50-day moving average price is $73.13 and its two-hundred day moving average price is $75.41. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.06. Safety Insurance Group has a 12-month low of $67.04 and a 12-month high of $81.49. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 16.61 and a beta of 0.21.

Safety Insurance Group (NASDAQ:SAFT) last released its quarterly earnings data on Wednesday, May 6th. The insurance provider reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of $1.45 by ($2.17). The firm had revenue of $314.67 million during the quarter, compared to analysts’ expectations of $315.01 million. Safety Insurance Group had a return on equity of 6.31% and a net margin of 4.94%. On average, research analysts forecast that Safety Insurance Group will post 4.75 EPS for the current year.

Insider Activity at Safety Insurance Group

In other news, major shareholder Corp Srb sold 14,151 shares of the firm’s stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $71.12, for a total value of $1,006,419.12. Following the transaction, the insider directly owned 1,794,655 shares in the company, valued at $127,635,863.60. This trade represents a 0.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Safety Insurance Group

Hedge funds have recently modified their holdings of the stock. Allworth Financial LP raised its holdings in shares of Safety Insurance Group by 74.8% during the 4th quarter. Allworth Financial LP now owns 388 shares of the insurance provider’s stock valued at $30,000 after buying an additional 166 shares during the period. Bayban purchased a new stake in shares of Safety Insurance Group during the 4th quarter valued at about $31,000. PNC Financial Services Group Inc. raised its holdings in shares of Safety Insurance Group by 62.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 416 shares of the insurance provider’s stock valued at $32,000 after buying an additional 160 shares during the period. Capital Advisors Ltd. LLC raised its holdings in shares of Safety Insurance Group by 419.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 488 shares of the insurance provider’s stock valued at $38,000 after buying an additional 394 shares during the period. Finally, Parallel Advisors LLC raised its holdings in shares of Safety Insurance Group by 653.0% during the 4th quarter. Parallel Advisors LLC now owns 497 shares of the insurance provider’s stock valued at $39,000 after buying an additional 431 shares during the period. 81.04% of the stock is currently 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.