Safety Insurance Group (SAFT) Downgraded to Buy at BidaskClub

BidaskClub lowered shares of Safety Insurance Group (NASDAQ:SAFT) from a strong-buy rating to a buy rating in a research note released on Monday.

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

NASDAQ SAFT opened at $80.70 on Monday. The stock has a market cap of $1.26 billion, a P/E ratio of 20.63 and a beta of 0.68. Safety Insurance Group has a 52-week low of $81.45 and a 52-week high of $82.55.

Safety Insurance Group (NASDAQ:SAFT) last posted its quarterly earnings results on Monday, February 26th. The insurance provider reported $0.72 earnings per share (EPS) for the quarter. The firm had revenue of $213.57 million during the quarter. Safety Insurance Group had a net margin of 7.05% and a return on equity of 8.80%.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Friday, June 1st will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Thursday, May 31st. This represents a $3.20 annualized dividend and a yield of 3.97%.

In related news, Director Frederic H. Lindeberg sold 2,000 shares of the stock in a transaction dated Friday, May 11th. The shares were sold at an average price of $83.17, for a total transaction of $166,340.00. Following the completion of the transaction, the director now directly owns 18,000 shares of the company’s stock, valued at $1,497,060. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.90% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in Safety Insurance Group by 28.1% in the fourth quarter. BlackRock Inc. now owns 1,919,407 shares of the insurance provider’s stock valued at $154,320,000 after buying an additional 421,317 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Safety Insurance Group in the fourth quarter valued at about $2,965,000. Westwood Holdings Group Inc. increased its holdings in Safety Insurance Group by 14.4% in the first quarter. Westwood Holdings Group Inc. now owns 176,300 shares of the insurance provider’s stock valued at $13,549,000 after buying an additional 22,175 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Safety Insurance Group by 5.9% in the first quarter. Robeco Institutional Asset Management B.V. now owns 361,274 shares of the insurance provider’s stock valued at $27,764,000 after buying an additional 20,049 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in Safety Insurance Group by 77.6% in the fourth quarter. Deutsche Bank AG now owns 44,905 shares of the insurance provider’s stock valued at $3,608,000 after buying an additional 19,620 shares in the last quarter. 81.69% of the stock is owned by hedge funds and other institutional investors.

Safety Insurance Group Company Profile

Safety Insurance Group, Inc provides private passenger and commercial automobile insurance in Massachusetts, New Hampshire, and Maine, 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.

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