Safety Insurance Group (NASDAQ:SAFT) Downgraded by BidaskClub

BidaskClub lowered shares of Safety Insurance Group (NASDAQ:SAFT) from a hold rating to a sell rating in a research report released on Wednesday morning, BidAskClub reports.

Separately, ValuEngine cut shares of Safety Insurance Group from a buy rating to a hold rating in a research note on Wednesday, October 2nd.

Shares of NASDAQ SAFT traded down $0.35 during midday trading on Wednesday, reaching $96.54. The stock had a trading volume of 42,700 shares, compared to its average volume of 41,578. The stock has a 50-day moving average of $98.87 and a 200-day moving average of $96.82. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.39 and a current ratio of 0.39. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 17.32 and a beta of 0.54. Safety Insurance Group has a 12-month low of $77.58 and a 12-month high of $103.96.

Safety Insurance Group (NASDAQ:SAFT) last posted its earnings results on Wednesday, October 30th. The insurance provider reported $0.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.13. The company had revenue of $215.27 million during the quarter. Safety Insurance Group had a net margin of 10.49% and a return on equity of 11.37%.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.60 annualized dividend and a yield of 3.73%.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA grew its stake in Safety Insurance Group by 1.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 86,572 shares of the insurance provider’s stock valued at $8,772,000 after acquiring an additional 963 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in Safety Insurance Group during the third quarter valued at $43,000. First Trust Advisors LP grew its stake in Safety Insurance Group by 103.5% during the third quarter. First Trust Advisors LP now owns 20,327 shares of the insurance provider’s stock valued at $2,060,000 after acquiring an additional 10,336 shares in the last quarter. Bartlett & Co. LLC purchased a new position in Safety Insurance Group during the third quarter valued at $89,000. Finally, Mitsubishi UFJ Asset Management UK Ltd. purchased a new position in Safety Insurance Group during the third quarter valued at $1,723,000. 79.78% of the stock is owned by 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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