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

Shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) have earned a consensus broker rating score of 3.00 (Hold) from the one brokers that provide coverage for 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 81 out of 255 based on the ratings given to its competitors.

A number of analysts recently weighed in on SAFT shares. ValuEngine cut shares of Safety Insurance Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. BidaskClub lowered shares of Safety Insurance Group from a “sell” rating to a “strong sell” rating in a research note on Friday, December 13th.

Shares of NASDAQ SAFT opened at $93.65 on Friday. The stock has a market cap of $1.44 billion, a P/E ratio of 16.49 and a beta of 0.53. Safety Insurance Group has a twelve month low of $79.07 and a twelve month high of $103.96. The stock has a 50 day moving average of $94.89 and a two-hundred day moving average of $97.17. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.05.

Safety Insurance Group (NASDAQ:SAFT) last announced its earnings results on Wednesday, October 30th. The insurance provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.13. The business had revenue of $215.27 million for the quarter. Safety Insurance Group had a net margin of 10.49% and a return on equity of 11.37%.

In related news, VP Stephen Albert Varga sold 900 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $98.25, for a total value of $88,425.00. Following the transaction, the vice president now owns 19,428 shares in the company, valued at approximately $1,908,801. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.80% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers raised its position in Safety Insurance Group by 6.3% in the 3rd quarter. Rhumbline Advisers now owns 47,955 shares of the insurance provider’s stock valued at $4,859,000 after buying an additional 2,855 shares during the last quarter. SRB Corp increased its holdings in Safety Insurance Group by 0.6% during the second quarter. SRB Corp now owns 1,546,533 shares of the insurance provider’s stock worth $147,122,000 after buying an additional 9,300 shares during the last quarter. State of Tennessee Treasury Department raised its position in Safety Insurance Group by 16.4% in the third quarter. State of Tennessee Treasury Department now owns 11,853 shares of the insurance provider’s stock worth $1,201,000 after acquiring an additional 1,673 shares during the period. Millennium Management LLC raised its position in Safety Insurance Group by 162.8% in the third quarter. Millennium Management LLC now owns 7,042 shares of the insurance provider’s stock worth $713,000 after acquiring an additional 4,362 shares during the period. Finally, Mitsubishi UFJ Asset Management UK Ltd. bought a new stake in Safety Insurance Group in the third quarter worth about $1,723,000. 80.12% of the stock is owned by hedge funds and other 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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