Safety Insurance Group (NASDAQ:SAFT) Downgraded to Hold Rating by StockNews.com

Safety Insurance Group (NASDAQ:SAFT) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Wednesday.

Safety Insurance Group Stock Performance

Shares of NASDAQ SAFT traded up $8.53 during mid-day trading on Wednesday, hitting $88.30. The stock had a trading volume of 142,328 shares, compared to its average volume of 51,849. Safety Insurance Group has a 1 year low of $71.99 and a 1 year high of $90.00. The business has a 50 day moving average price of $82.00 and a two-hundred day moving average price of $80.54. The firm has a market cap of $1.31 billion, a P/E ratio of 25.59 and a beta of 0.17.

Safety Insurance Group (NASDAQ:SAFT) last issued its quarterly earnings data on Wednesday, August 7th. The insurance provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.12). The company had revenue of $269.78 million for the quarter. Safety Insurance Group had a net margin of 4.96% and a return on equity of 5.53%.

Insider Activity

In other news, VP Glenn Hiltpold sold 389 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $84.41, for a total transaction of $32,835.49. Following the sale, the vice president now owns 11,204 shares in the company, valued at approximately $945,729.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have sold 915 shares of company stock worth $75,125. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of Safety Insurance Group

A number of hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets boosted its stake in Safety Insurance Group by 74.8% in the 1st quarter. BNP Paribas Financial Markets now owns 7,164 shares of the insurance provider’s stock worth $589,000 after purchasing an additional 3,066 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Safety Insurance Group by 18.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 4,019 shares of the insurance provider’s stock worth $330,000 after purchasing an additional 619 shares in the last quarter. Mutual of America Capital Management LLC bought a new position in Safety Insurance Group in the 1st quarter worth about $210,000. Texas Permanent School Fund Corp boosted its stake in Safety Insurance Group by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 12,946 shares of the insurance provider’s stock worth $1,064,000 after purchasing an additional 168 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Safety Insurance Group in the 1st quarter worth about $152,000. Institutional investors own 81.04% of the company’s stock.

Safety Insurance Group Company Profile

Safety Insurance Group, Inc provides private passenger and commercial automobile, and homeowner insurance in 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.