Safety Insurance Group (NASDAQ:SAFT) Rating Increased to Hold at Zacks Research

Safety Insurance Group (NASDAQ:SAFT) was upgraded by research analysts at Zacks Research to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

Separately, Wall Street Zen downgraded Safety Insurance Group from a “hold” rating to a “sell” rating in a research report on Sunday, May 17th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Safety Insurance Group has an average rating of “Hold”.

Safety Insurance Group Stock Performance

Shares of SAFT opened at $70.47 on Wednesday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 16.66 and a beta of 0.24. The stock has a 50 day moving average of $73.53 and a 200 day moving average of $75.73. Safety Insurance Group has a 12 month low of $67.04 and a 12 month high of $83.11.

Safety Insurance Group (NASDAQ:SAFT) last issued its quarterly earnings results 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 business had revenue of $314.67 million for the quarter, compared to analysts’ expectations of $315.01 million. Safety Insurance Group had a net margin of 4.94% and a return on equity of 6.31%. As a group, sell-side analysts forecast that Safety Insurance Group will post 4.75 earnings per share for the current year.

Insider Transactions at Safety Insurance Group

In other Safety Insurance Group news, major shareholder Corp Srb sold 14,151 shares of the firm’s stock in a transaction on 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 completion of the sale, the insider directly owned 1,794,655 shares of the company’s stock, valued at $127,635,863.60. This trade represents a 0.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.20% of the stock is owned by corporate insiders.

Institutional Trading of Safety Insurance Group

Large investors have recently bought and sold shares of the company. Bank of America Corp DE boosted its holdings in shares of Safety Insurance Group by 5.8% in the first quarter. Bank of America Corp DE now owns 24,877 shares of the insurance provider’s stock worth $1,807,000 after acquiring an additional 1,356 shares during the period. Quantinno Capital Management LP boosted its holdings in shares of Safety Insurance Group by 16.8% in the first quarter. Quantinno Capital Management LP now owns 19,525 shares of the insurance provider’s stock worth $1,418,000 after acquiring an additional 2,813 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Safety Insurance Group by 0.3% in the first quarter. Renaissance Technologies LLC now owns 140,400 shares of the insurance provider’s stock worth $10,199,000 after acquiring an additional 400 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Safety Insurance Group by 44.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 67,915 shares of the insurance provider’s stock worth $4,933,000 after acquiring an additional 21,018 shares during the period. Finally, Sei Investments Co. boosted its holdings in shares of Safety Insurance Group by 23.9% in the first quarter. Sei Investments Co. now owns 3,189 shares of the insurance provider’s stock worth $232,000 after acquiring an additional 615 shares during the period. 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.