Safety Insurance Group (NASDAQ:SAFT) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of Safety Insurance Group (NASDAQ:SAFT) from a buy rating to a hold rating in a research note published on Thursday morning.

Safety Insurance Group Trading Up 1.0 %

Shares of NASDAQ SAFT opened at $76.06 on Thursday. Safety Insurance Group has a 1-year low of $73.38 and a 1-year high of $90.00. The company has a 50-day moving average of $79.34 and a two-hundred day moving average of $81.80. The company has a market cap of $1.13 billion, a PE ratio of 15.06 and a beta of 0.20.

Safety Insurance Group (NASDAQ:SAFT) last posted its quarterly earnings data on Tuesday, February 25th. The insurance provider reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.23). The firm had revenue of $286.72 million for 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 disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be given a $0.90 dividend. 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 Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SAFT. Creative Planning bought a new stake in shares of Safety Insurance Group during the third quarter worth approximately $299,000. International Assets Investment Management LLC raised its position in shares of 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 acquiring an additional 16,156 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in shares of Safety Insurance Group during the 3rd quarter valued at $202,000. TimesSquare Capital Management LLC lifted its stake in shares of Safety Insurance Group by 12.6% in the 3rd quarter. TimesSquare Capital Management LLC now owns 512,888 shares of the insurance provider’s stock valued at $41,944,000 after purchasing an additional 57,320 shares during the period. Finally, Quest Partners LLC bought a new position in shares of Safety Insurance Group in the 3rd quarter worth $379,000. 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.