Safety Insurance Group (SAFT) Rating Lowered to Buy at BidaskClub

Safety Insurance Group (NASDAQ:SAFT) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Thursday.

Separately, Compass Point cut shares of Safety Insurance Group from a “neutral” rating to a “sell” rating in a report on Monday, October 16th.

Safety Insurance Group (NASDAQ SAFT) opened at $80.40 on Thursday. Safety Insurance Group has a fifty-two week low of $65.75 and a fifty-two week high of $84.00. The firm has a market cap of $1,236.32, a price-to-earnings ratio of 19.66 and a beta of 0.78.

In other Safety Insurance Group news, Director Frederic H. Lindeberg sold 1,000 shares of Safety Insurance Group stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $83.16, for a total value of $83,160.00. Following the completion of the transaction, the director now owns 19,000 shares of the company’s stock, valued at $1,580,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frederic H. Lindeberg sold 2,000 shares of Safety Insurance Group stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $82.35, for a total transaction of $164,700.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $1,647,000. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SAFT. BlackRock Inc. increased its stake in shares of Safety Insurance Group by 1.0% during the second quarter. BlackRock Inc. now owns 1,479,989 shares of the insurance provider’s stock worth $101,083,000 after purchasing an additional 14,843 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Safety Insurance Group by 3.3% during the second quarter. Vanguard Group Inc. now owns 1,382,190 shares of the insurance provider’s stock worth $94,404,000 after purchasing an additional 43,812 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Safety Insurance Group by 0.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,277,824 shares of the insurance provider’s stock worth $87,276,000 after purchasing an additional 4,880 shares in the last quarter. Northern Trust Corp increased its stake in shares of Safety Insurance Group by 1.6% during the second quarter. Northern Trust Corp now owns 553,619 shares of the insurance provider’s stock worth $37,812,000 after purchasing an additional 8,981 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Safety Insurance Group by 4.5% during the second quarter. State Street Corp now owns 448,998 shares of the insurance provider’s stock worth $30,663,000 after purchasing an additional 19,139 shares in the last quarter. 78.61% of the stock is owned by institutional investors.

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Safety Insurance Group Company Profile

Safety Insurance Group, Inc is a provider of private passenger automobile insurance. The Company offers a portfolio of property and casualty insurance products. The Company is engaged in property and casualty insurance operations. The Company’s product line includes private passenger automobile, commercial automobile, homeowners, business owners’ policies, personal umbrella, dwelling fire, commercial umbrella, inland marine and watercraft.

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