Safety Insurance Group (SAFT) Upgraded at BidaskClub

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Safety Insurance Group (NASDAQ:SAFT) was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

Separately, ValuEngine raised Safety Insurance Group from a “hold” rating to a “buy” rating in a report on Saturday, June 2nd.

Shares of SAFT opened at $98.15 on Friday. The company has a market capitalization of $1.50 billion, a PE ratio of 22.16 and a beta of 0.59. Safety Insurance Group has a one year low of $68.15 and a one year high of $99.70.

Safety Insurance Group (NASDAQ:SAFT) last announced its earnings results on Friday, August 3rd. The insurance provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.55 by $0.26. The business had revenue of $207.97 million for the quarter. Safety Insurance Group had a return on equity of 9.74% and a net margin of 7.73%.

In other news, Director Frederic H. Lindeberg sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $92.45, for a total value of $92,450.00. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $1,386,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.90% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Naples Global Advisors LLC raised its position in Safety Insurance Group by 4.7% in the 2nd quarter. Naples Global Advisors LLC now owns 14,823 shares of the insurance provider’s stock worth $1,266,000 after purchasing an additional 660 shares during the last quarter. Legal & General Group Plc raised its position in Safety Insurance Group by 2.4% in the 1st quarter. Legal & General Group Plc now owns 30,926 shares of the insurance provider’s stock worth $2,386,000 after purchasing an additional 711 shares during the last quarter. Aperio Group LLC raised its position in Safety Insurance Group by 8.4% in the 2nd quarter. Aperio Group LLC now owns 11,297 shares of the insurance provider’s stock worth $965,000 after purchasing an additional 880 shares during the last quarter. Rhumbline Advisers raised its position in Safety Insurance Group by 2.4% in the 2nd quarter. Rhumbline Advisers now owns 36,850 shares of the insurance provider’s stock worth $3,147,000 after purchasing an additional 881 shares during the last quarter. Finally, Xact Kapitalforvaltning AB raised its position in Safety Insurance Group by 31.5% in the 1st quarter. Xact Kapitalforvaltning AB now owns 3,758 shares of the insurance provider’s stock worth $289,000 after purchasing an additional 900 shares during the last quarter. 80.17% of the stock is currently owned by institutional investors and hedge funds.

About Safety Insurance Group

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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