Safety Insurance Group (SAFT) Downgraded by BidaskClub to Hold

BidaskClub lowered shares of Safety Insurance Group (NASDAQ:SAFT) from a buy rating to a hold rating in a research note published on Thursday.

Separately, Compass Point downgraded shares of Safety Insurance Group from a neutral rating to a sell rating in a research note on Monday, October 16th.

Safety Insurance Group (NASDAQ SAFT) traded up $0.50 on Thursday, reaching $80.50. 32,079 shares of the company’s stock traded hands, compared to its average volume of 50,570. Safety Insurance Group has a 12 month low of $65.75 and a 12 month high of $84.00. The stock has a market capitalization of $1,201.47, a P/E ratio of 19.40 and a beta of 0.78.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $3.20 annualized dividend and a yield of 3.98%. Safety Insurance Group’s dividend payout ratio is currently 77.11%.

In other news, Director Frederic H. Lindeberg sold 2,000 shares of the company’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $82.35, for a total value of $164,700.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at $1,647,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David F. Brussard sold 14,549 shares of the company’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $81.36, for a total transaction of $1,183,706.64. Following the completion of the transaction, the director now owns 12,077 shares of the company’s stock, valued at $982,584.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,505 shares of company stock valued at $1,588,066. 4.90% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Safety Insurance Group by 1.0% in the second quarter. BlackRock Inc. now owns 1,479,989 shares of the insurance provider’s stock valued at $101,083,000 after purchasing an additional 14,843 shares during the period. Vanguard Group Inc. raised its holdings in Safety Insurance Group by 3.3% in the second quarter. Vanguard Group Inc. now owns 1,382,190 shares of the insurance provider’s stock valued at $94,404,000 after acquiring an additional 43,812 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Safety Insurance Group by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,277,824 shares of the insurance provider’s stock valued at $87,276,000 after acquiring an additional 4,880 shares in the last quarter. Northern Trust Corp raised its holdings in Safety Insurance Group by 1.6% in the second quarter. Northern Trust Corp now owns 553,619 shares of the insurance provider’s stock valued at $37,812,000 after acquiring an additional 8,981 shares in the last quarter. Finally, State Street Corp raised its holdings in Safety Insurance Group by 4.5% in the second quarter. State Street Corp now owns 448,998 shares of the insurance provider’s stock valued at $30,663,000 after acquiring an additional 19,139 shares in the last quarter. Institutional investors and hedge funds own 78.59% of the company’s stock.

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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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