Safety Insurance Group (NASDAQ:SAFT) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Safety Insurance Group (NASDAQ:SAFT - Free Report) from a hold rating to a buy rating in a report released on Thursday.

Safety Insurance Group Stock Down 1.0 %

NASDAQ:SAFT traded down $0.82 on Thursday, hitting $85.02. The stock had a trading volume of 48,964 shares, compared to its average volume of 51,932. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 16.95 and a beta of 0.17. The business's 50-day simple moving average is $81.87 and its two-hundred day simple moving average is $80.73. Safety Insurance Group has a 52-week low of $71.99 and a 52-week high of $90.00.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last announced its earnings results on Tuesday, November 5th. The insurance provider reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.40 by ($0.30). The firm had revenue of $295.28 million during the quarter. Safety Insurance Group had a return on equity of 6.35% and a net margin of 6.86%.

Safety Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be given a $0.90 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $3.60 annualized dividend and a yield of 4.23%. Safety Insurance Group's payout ratio is 71.29%.

Insiders Place Their Bets

In other news, VP Glenn Hiltpold sold 389 shares of the firm's stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $84.41, for a total value of $32,835.49. Following the transaction, the vice president now owns 11,204 shares of the company's stock, valued at $945,729.64. This trade represents a 3.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.00% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. raised its stake in Safety Insurance Group by 113.2% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 54,929 shares of the insurance provider's stock valued at $4,515,000 after purchasing an additional 29,167 shares during the period. Vanguard Group Inc. raised its stake in Safety Insurance Group by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 1,695,813 shares of the insurance provider's stock valued at $139,379,000 after purchasing an additional 54,441 shares during the period. Creative Planning bought a new stake in Safety Insurance Group during the 3rd quarter valued at approximately $299,000. International Assets Investment Management LLC raised its stake in Safety Insurance Group by 8,078.0% during the 3rd quarter. International Assets Investment Management LLC now owns 16,356 shares of the insurance provider's stock valued at $1,338,000 after purchasing an additional 16,156 shares during the period. Finally, Bessemer Group Inc. raised its stake in Safety Insurance Group by 458.9% during the 1st quarter. Bessemer Group Inc. now owns 313 shares of the insurance provider's stock valued at $26,000 after purchasing an additional 257 shares during the period. Institutional investors own 81.04% of the company's stock.

About Safety Insurance Group

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.