StockNews.com Upgrades Safety Insurance Group (NASDAQ:SAFT) to “Buy”

Safety Insurance Group (NASDAQ:SAFT) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Thursday.

Safety Insurance Group Price Performance

SAFT stock opened at $85.84 on Thursday. The company has a market capitalization of $1.27 billion, a PE ratio of 17.00 and a beta of 0.17. Safety Insurance Group has a 12 month low of $71.99 and a 12 month high of $90.00. The firm’s 50-day moving average is $81.87 and its 200 day moving average is $80.69.

Safety Insurance Group (NASDAQ:SAFT) last posted its quarterly earnings results on Tuesday, November 5th. The insurance provider reported $1.10 EPS for the quarter, missing the consensus estimate of $1.40 by ($0.30). The company had revenue of $295.28 million during the quarter. Safety Insurance Group had a return on equity of 6.35% and a net margin of 6.86%.

Insider Activity

In other news, VP Glenn Hiltpold sold 389 shares of the firm’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 sale, the vice president now directly owns 11,204 shares in the company, valued at approximately $945,729.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.00% of the company’s stock.

Institutional Trading of Safety Insurance Group

A number of institutional investors have recently bought and sold shares of SAFT. BNP Paribas Financial Markets boosted its stake in Safety Insurance Group by 74.8% in the 1st quarter. BNP Paribas Financial Markets now owns 7,164 shares of the insurance provider’s stock worth $589,000 after purchasing an additional 3,066 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in Safety Insurance Group by 18.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 4,019 shares of the insurance provider’s stock valued at $330,000 after acquiring an additional 619 shares during the period. Texas Permanent School Fund Corp lifted its stake in Safety Insurance Group by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 12,946 shares of the insurance provider’s stock valued at $1,064,000 after acquiring an additional 168 shares during the period. SG Americas Securities LLC acquired a new stake in Safety Insurance Group during the 1st quarter valued at approximately $152,000. Finally, US Bancorp DE lifted its stake in Safety Insurance Group by 4.1% during the 1st quarter. US Bancorp DE now owns 7,199 shares of the insurance provider’s stock valued at $592,000 after acquiring an additional 282 shares during the period. 81.04% of the stock is currently owned by institutional investors and hedge funds.

About Safety Insurance Group

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.