Safety Insurance Group (SAFT) Upgraded by BidaskClub to “Buy”

BidaskClub upgraded shares of Safety Insurance Group (NASDAQ:SAFT) from a hold rating to a buy rating in a research note released on Wednesday morning.

Separately, Compass Point raised Safety Insurance Group from a sell rating to a neutral rating and set a $70.00 price target on the stock in a report on Thursday, March 8th.

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Shares of SAFT stock opened at $75.00 on Wednesday. The stock has a market capitalization of $1,166.54, a P/E ratio of 18.38 and a beta of 0.76. Safety Insurance Group has a 1-year low of $65.75 and a 1-year high of $84.00.

Safety Insurance Group (NASDAQ:SAFT) last announced its quarterly earnings results on Monday, February 26th. The insurance provider reported $0.72 earnings per share (EPS) for the quarter. The business had revenue of $213.57 million for the quarter. Safety Insurance Group had a return on equity of 8.99% and a net margin of 7.43%.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Thursday, March 1st were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 4.27%. The ex-dividend date was Wednesday, February 28th. Safety Insurance Group’s dividend payout ratio (DPR) is 78.43%.

In related news, VP David E. Krupa sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $80.30, for a total value of $562,100.00. Following the sale, the vice president now owns 22,925 shares of the company’s stock, valued at approximately $1,840,877.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 4.90% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its stake in Safety Insurance Group by 28.1% during the 4th quarter. BlackRock Inc. now owns 1,919,407 shares of the insurance provider’s stock valued at $154,320,000 after acquiring an additional 421,317 shares in the last quarter. Westwood Holdings Group Inc. raised its stake in Safety Insurance Group by 0.6% during the 4th quarter. Westwood Holdings Group Inc. now owns 154,125 shares of the insurance provider’s stock valued at $12,392,000 after acquiring an additional 930 shares in the last quarter. Geode Capital Management LLC raised its stake in Safety Insurance Group by 4.6% during the 4th quarter. Geode Capital Management LLC now owns 136,161 shares of the insurance provider’s stock valued at $10,947,000 after acquiring an additional 5,951 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Safety Insurance Group by 6.0% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 134,443 shares of the insurance provider’s stock valued at $10,810,000 after acquiring an additional 7,557 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in Safety Insurance Group by 5.0% during the 3rd quarter. Principal Financial Group Inc. now owns 125,600 shares of the insurance provider’s stock valued at $9,583,000 after acquiring an additional 5,960 shares in the last quarter. 82.41% of the stock is currently owned by hedge funds and other 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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