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

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 provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating.

Zacks has also assigned Safety Insurance Group an industry rank of 70 out of 255 based on the ratings given to its competitors.

Separately, BidaskClub upgraded Safety Insurance Group from a “hold” rating to a “buy” rating in a research report on Saturday.

In other news, Director Peter J. Manning sold 1,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $87.81, for a total transaction of $87,810.00. Following the sale, the director now directly owns 7,000 shares in the company, valued at $614,670. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP David E. Krupa sold 3,588 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $86.91, for a total value of $311,833.08. Following the sale, the vice president now owns 11,398 shares in the company, valued at $990,600.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,788 shares of company stock worth $417,243. Company insiders own 4.90% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN grew its holdings in shares of Safety Insurance Group by 0.8% during the third quarter. Wells Fargo & Company MN now owns 86,723 shares of the insurance provider’s stock worth $7,770,000 after purchasing an additional 684 shares in the last quarter. Martingale Asset Management L P grew its holdings in shares of Safety Insurance Group by 2.0% during the third quarter. Martingale Asset Management L P now owns 46,111 shares of the insurance provider’s stock worth $4,132,000 after purchasing an additional 900 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Safety Insurance Group by 0.8% during the third quarter. BlackRock Inc. now owns 2,076,405 shares of the insurance provider’s stock worth $186,047,000 after purchasing an additional 17,005 shares in the last quarter. United Services Automobile Association purchased a new position in shares of Safety Insurance Group during the third quarter worth about $380,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Safety Insurance Group during the third quarter worth about $247,000. Hedge funds and other institutional investors own 83.27% of the company’s stock.

Safety Insurance Group stock traded down $0.76 during midday trading on Monday, reaching $90.66. The stock had a trading volume of 23,200 shares, compared to its average volume of 36,685. Safety Insurance Group has a 12 month low of $76.45 and a 12 month high of $99.70. The stock has a market capitalization of $1.41 billion, a P/E ratio of 14.96 and a beta of 0.62.

Safety Insurance Group (NASDAQ:SAFT) last announced its quarterly earnings data on Tuesday, February 26th. The insurance provider reported $1.83 earnings per share (EPS) for the quarter. Safety Insurance Group had a return on equity of 13.33% and a net margin of 9.95%. The business had revenue of $202.90 million for the quarter.

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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