Safety Insurance Group (NASDAQ:SAFT) Rating Lowered to “Hold” at StockNews.com

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

Safety Insurance Group Stock Performance

SAFT opened at $76.06 on Thursday. Safety Insurance Group has a twelve month low of $73.38 and a twelve month high of $90.00. The firm has a market cap of $1.13 billion, a PE ratio of 15.06 and a beta of 0.20. The firm’s fifty day moving average is $79.34 and its two-hundred day moving average is $81.80.

Safety Insurance Group (NASDAQ:SAFT) last posted its earnings results on Tuesday, February 25th. The insurance provider reported $0.94 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.23). Safety Insurance Group had a return on equity of 6.35% and a net margin of 6.86%. The business had revenue of $286.72 million for the quarter.

Safety Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $3.60 dividend on an annualized basis and a yield of 4.73%. Safety Insurance Group’s payout ratio is 75.47%.

Institutional Trading of Safety Insurance Group

Several hedge funds have recently bought and sold shares of the stock. Signaturefd LLC increased its position in shares of Safety Insurance Group by 94.9% during the fourth quarter. Signaturefd LLC now owns 308 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 150 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Safety Insurance Group during the 4th quarter worth about $34,000. Sterling Capital Management LLC raised its stake in shares of 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 purchasing an additional 420 shares during the period. KBC Group NV raised its stake in shares of Safety Insurance Group by 52.2% in the 4th quarter. KBC Group NV now owns 1,000 shares of the insurance provider’s stock valued at $82,000 after purchasing an additional 343 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Safety Insurance Group in the fourth quarter valued at about $181,000. 81.04% of the stock is currently owned by institutional investors and hedge funds.

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.