Zacks: Safety Insurance Group, Inc. (SAFT) Receives Consensus Recommendation of “Hold” from Brokerages

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

Zacks has also given Safety Insurance Group an industry rank of 193 out of 257 based on the ratings given to related companies.

Separately, BidaskClub raised shares of Safety Insurance Group from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 27th.

In related news, Director David D. Mckown sold 3,765 shares of Safety Insurance Group stock in a transaction on Thursday, September 6th. The shares were sold at an average price of $98.67, for a total value of $371,492.55. Following the transaction, the director now directly owns 5,735 shares of the company’s stock, valued at $565,872.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David D. Mckown sold 1,235 shares of Safety Insurance Group stock in a transaction on Monday, September 10th. The stock was sold at an average price of $96.53, for a total transaction of $119,214.55. Following the completion of the transaction, the director now directly owns 4,500 shares in the company, valued at $434,385. The disclosure for this sale can be found here. Insiders have sold 10,130 shares of company stock worth $993,550 over the last three months. Insiders own 4.90% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN increased its stake in shares of Safety Insurance Group by 0.8% in the third quarter. Wells Fargo & Company MN now owns 86,723 shares of the insurance provider’s stock worth $7,770,000 after buying an additional 684 shares during the period. Victory Capital Management Inc. increased its stake in shares of Safety Insurance Group by 4.8% in the third quarter. Victory Capital Management Inc. now owns 17,964 shares of the insurance provider’s stock worth $1,610,000 after buying an additional 815 shares during the period. Legal & General Group Plc increased its stake in shares of Safety Insurance Group by 2.6% in the third quarter. Legal & General Group Plc now owns 33,700 shares of the insurance provider’s stock worth $3,011,000 after buying an additional 843 shares during the period. Aperio Group LLC increased its stake in shares of Safety Insurance Group by 8.4% in the second quarter. Aperio Group LLC now owns 11,297 shares of the insurance provider’s stock worth $965,000 after buying an additional 880 shares during the period. Finally, Rhumbline Advisers increased its stake in shares of Safety Insurance Group by 2.4% in the second quarter. Rhumbline Advisers now owns 36,850 shares of the insurance provider’s stock worth $3,147,000 after buying an additional 881 shares during the period. 80.55% of the stock is currently owned by institutional investors.

Shares of SAFT stock traded up $0.50 during trading hours on Wednesday, hitting $88.32. 25,349 shares of the company’s stock were exchanged, compared to its average volume of 36,785. The company has a market capitalization of $1.34 billion, a PE ratio of 17.56 and a beta of 0.65. Safety Insurance Group has a 12-month low of $70.45 and a 12-month high of $99.70.

Safety Insurance Group (NASDAQ:SAFT) last posted its quarterly earnings results on Wednesday, October 31st. The insurance provider reported $1.76 EPS for the quarter. The firm had revenue of $215.91 million for the quarter. Safety Insurance Group had a net margin of 8.99% and a return on equity of 11.02%.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Monday, December 3rd will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 3.62%. The ex-dividend date is Friday, November 30th.

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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