Zacks: Safety Insurance Group, Inc. (SAFT) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) have been given a consensus broker rating score of 3.00 (Hold) from the one brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold rating. Safety Insurance Group’s rating score has improved by 40% in the last three months as a result of a number of analysts’ ratings changes.

Zacks has also given Safety Insurance Group an industry rank of 197 out of 265 based on the ratings given to related companies.

SAFT has been the topic of a number of research analyst reports. BidaskClub raised shares of Safety Insurance Group from a “hold” rating to a “buy” rating in a report on Wednesday, March 21st. Compass Point raised shares of Safety Insurance Group from a “sell” rating to a “neutral” rating and set a $70.00 price objective on the stock in a report on Thursday, March 8th.

Large investors have recently modified their holdings of the business. SG Americas Securities LLC grew its holdings in Safety Insurance Group by 67.2% during the 3rd quarter. SG Americas Securities LLC now owns 2,450 shares of the insurance provider’s stock worth $187,000 after acquiring an additional 985 shares during the last quarter. Neuberger Berman Group LLC bought a new stake in Safety Insurance Group during the 3rd quarter worth about $220,000. Xact Kapitalforvaltning AB bought a new stake in Safety Insurance Group during the 4th quarter worth about $230,000. First Republic Investment Management Inc. bought a new stake in Safety Insurance Group during the 4th quarter worth about $322,000. Finally, Teacher Retirement System of Texas bought a new stake in Safety Insurance Group during the 4th quarter worth about $403,000. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:SAFT opened at $76.85 on Thursday. Safety Insurance Group has a twelve month low of $65.75 and a twelve month high of $84.00. The stock has a market capitalization of $1,169.58, a PE ratio of 18.84 and a beta of 0.76.

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

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date was Wednesday, February 28th.

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About Safety Insurance Group

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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