Safety Insurance Group (SAFT) Stock Rating Upgraded by BidaskClub

Safety Insurance Group (NASDAQ:SAFT) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Thursday.

NASDAQ:SAFT traded up $0.16 during mid-day trading on Thursday, hitting $83.90. The company’s stock had a trading volume of 33,370 shares, compared to its average volume of 37,787. Safety Insurance Group has a fifty-two week low of $70.45 and a fifty-two week high of $99.70. The firm has a market capitalization of $1.37 billion, a PE ratio of 20.27 and a beta of 0.59.

Safety Insurance Group (NASDAQ:SAFT) last posted its quarterly earnings data on Friday, August 3rd. The insurance provider reported $1.81 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.55 by $0.26. The company had revenue of $207.97 million during the quarter. Safety Insurance Group had a net margin of 7.73% and a return on equity of 9.74%.

In other news, VP James Berry sold 5,130 shares of the firm’s stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $98.02, for a total transaction of $502,842.60. Following the completion of the sale, the vice president now owns 30,514 shares of the company’s stock, valued at $2,990,982.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Frederic H. Lindeberg sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $92.45, for a total transaction of $92,450.00. Following the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $1,386,750. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,130 shares of company stock valued at $1,086,000. Company insiders own 4.90% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of SAFT. Wells Fargo & Company MN increased its holdings in shares of Safety Insurance Group by 1.7% during the first quarter. Wells Fargo & Company MN now owns 86,036 shares of the insurance provider’s stock worth $6,611,000 after buying an additional 1,448 shares in the last quarter. Northern Trust Corp grew its stake in shares of Safety Insurance Group by 1.1% during the first quarter. Northern Trust Corp now owns 541,363 shares of the insurance provider’s stock valued at $41,604,000 after purchasing an additional 5,639 shares during the last quarter. BlackRock Inc. grew its stake in shares of Safety Insurance Group by 0.9% during the first quarter. BlackRock Inc. now owns 1,937,604 shares of the insurance provider’s stock valued at $148,906,000 after purchasing an additional 18,197 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of Safety Insurance Group by 10.5% during the first quarter. California Public Employees Retirement System now owns 14,177 shares of the insurance provider’s stock valued at $1,090,000 after purchasing an additional 1,347 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of Safety Insurance Group by 69.4% during the first quarter. Russell Investments Group Ltd. now owns 40,068 shares of the insurance provider’s stock valued at $3,079,000 after purchasing an additional 16,420 shares during the last quarter. 80.16% of the stock is owned by institutional investors.

Safety Insurance Group Company Profile

Safety Insurance Group, Inc provides private passenger and commercial automobile insurance in Massachusetts, New Hampshire, and Maine, 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.

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