Safety Insurance Group (NASDAQ:SAFT) Downgraded by Wall Street Zen to Hold

Wall Street Zen lowered shares of Safety Insurance Group (NASDAQ:SAFT) from a buy rating to a hold rating in a research note released on Saturday.

Safety Insurance Group Stock Performance

Shares of SAFT stock opened at $72.35 on Friday. The stock has a market capitalization of $1.08 billion, a PE ratio of 12.67 and a beta of 0.26. Safety Insurance Group has a 52-week low of $68.76 and a 52-week high of $90.00. The stock’s 50-day moving average price is $75.13 and its 200 day moving average price is $77.16. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.03.

Safety Insurance Group (NASDAQ:SAFT) last issued its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.15). The company had revenue of $345.83 million during the quarter. Safety Insurance Group had a net margin of 7.07% and a return on equity of 8.34%.

Safety Insurance Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be issued a $0.92 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $3.68 dividend on an annualized basis and a yield of 5.1%. This is a boost from Safety Insurance Group’s previous quarterly dividend of $0.90. Safety Insurance Group’s dividend payout ratio is presently 63.05%.

Insiders Place Their Bets

In other Safety Insurance Group news, Director Dennis J. Langwell acquired 2,000 shares of the stock in a transaction on Monday, August 11th. The shares were bought at an average price of $71.49 per share, with a total value of $142,980.00. Following the acquisition, the director owned 6,000 shares of the company’s stock, valued at $428,940. This trade represents a 50.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Safety Insurance Group

A number of institutional investors have recently added to or reduced their stakes in SAFT. Capital Advisors Ltd. LLC boosted its holdings in Safety Insurance Group by 15,950.0% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 321 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 319 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Safety Insurance Group in the 4th quarter valued at approximately $34,000. Parallel Advisors LLC lifted its stake in Safety Insurance Group by 169.9% in the 1st quarter. Parallel Advisors LLC now owns 448 shares of the insurance provider’s stock valued at $35,000 after buying an additional 282 shares in the last quarter. Sterling Capital Management LLC lifted its stake in Safety Insurance Group by 823.5% in the 4th quarter. Sterling Capital Management LLC now owns 471 shares of the insurance provider’s stock valued at $39,000 after buying an additional 420 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Safety Insurance Group by 67.9% in the 1st quarter. GAMMA Investing LLC now owns 811 shares of the insurance provider’s stock valued at $64,000 after buying an additional 328 shares in the last quarter. Hedge funds and other 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.