Safety Insurance Group (NASDAQ:SAFT) Raised to Buy at StockNews.com

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

Safety Insurance Group Trading Down 1.5%

Shares of SAFT opened at $80.05 on Monday. The firm has a market cap of $1.19 billion, a P/E ratio of 15.85 and a beta of 0.22. Safety Insurance Group has a 12-month low of $70.71 and a 12-month high of $90.00. The company’s 50-day moving average price is $77.44 and its 200 day moving average price is $79.78.

Safety Insurance Group (NASDAQ:SAFT) last issued its quarterly earnings data on Wednesday, May 7th. The insurance provider reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.03. The firm had revenue of $298.97 million for the quarter. Safety Insurance Group had a net margin of 6.86% and a return on equity of 6.35%.

Safety Insurance Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be issued a $0.90 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $3.60 annualized dividend and a yield of 4.50%. Safety Insurance Group’s dividend payout ratio (DPR) is currently 73.62%.

Institutional Trading of Safety Insurance Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC grew its position in Safety Insurance Group by 5.8% in the 4th quarter. Barclays PLC now owns 25,851 shares of the insurance provider’s stock valued at $2,129,000 after acquiring an additional 1,421 shares in the last quarter. JPMorgan Chase & Co. grew its position in Safety Insurance Group by 21.4% in the 4th quarter. JPMorgan Chase & Co. now owns 212,354 shares of the insurance provider’s stock valued at $17,498,000 after acquiring an additional 37,495 shares in the last quarter. EntryPoint Capital LLC acquired a new position in Safety Insurance Group in the 4th quarter valued at about $304,000. AlphaQuest LLC grew its position in Safety Insurance Group by 89.0% in the 4th quarter. AlphaQuest LLC now owns 8,751 shares of the insurance provider’s stock valued at $721,000 after acquiring an additional 4,122 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Safety Insurance Group by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 239,565 shares of the insurance provider’s stock valued at $19,740,000 after acquiring an additional 6,542 shares in the last quarter. 81.04% of the stock is currently owned by hedge funds and other institutional investors.

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.