Zacks: Safety Insurance Group, Inc. (NASDAQ:SAFT) Receives Average Recommendation of “Hold” from Analysts

Safety Insurance Group, Inc. (NASDAQ:SAFT) has been assigned an average broker rating score of 3.00 (Hold) from the one analysts that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating.

Zacks has also assigned Safety Insurance Group an industry rank of 57 out of 255 based on the ratings given to its competitors.

SAFT has been the subject of several research reports. ValuEngine cut shares of Safety Insurance Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. BidaskClub downgraded Safety Insurance Group from a “sell” rating to a “strong sell” rating in a report on Friday, December 13th.

In other news, VP Stephen Albert Varga sold 900 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $98.25, for a total value of $88,425.00. Following the completion of the sale, the vice president now owns 19,428 shares of the company’s stock, valued at approximately $1,908,801. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 4.80% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SAFT. First Trust Advisors LP boosted its holdings in shares of Safety Insurance Group by 55.1% in the 1st quarter. First Trust Advisors LP now owns 9,408 shares of the insurance provider’s stock valued at $820,000 after buying an additional 3,342 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Safety Insurance Group by 3.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 6,076 shares of the insurance provider’s stock valued at $579,000 after buying an additional 195 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Safety Insurance Group by 0.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 170,610 shares of the insurance provider’s stock valued at $16,231,000 after buying an additional 1,038 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Safety Insurance Group by 32.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 18,798 shares of the insurance provider’s stock valued at $1,788,000 after buying an additional 4,563 shares during the last quarter. Finally, Captrust Financial Advisors acquired a new stake in shares of Safety Insurance Group in the 2nd quarter valued at approximately $112,000. 80.12% of the stock is owned by institutional investors.

Shares of SAFT traded up $1.04 during mid-day trading on Friday, hitting $95.47. 38,298 shares of the company’s stock were exchanged, compared to its average volume of 61,286. The company has a market cap of $1.45 billion, a PE ratio of 16.38 and a beta of 0.53. Safety Insurance Group has a 52 week low of $80.39 and a 52 week high of $103.96. The company has a 50-day simple moving average of $94.62 and a 200 day simple moving average of $97.17. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.39 and a quick ratio of 0.39.

Safety Insurance Group (NASDAQ:SAFT) last issued its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $0.98 earnings per share for the quarter, topping the 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%.

About Safety Insurance Group

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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