Safety Insurance Group (SAFT) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of Safety Insurance Group (NASDAQ:SAFT) from a hold rating to a buy rating in a report published on Saturday morning, BidAskClub reports.

Shares of NASDAQ SAFT opened at $92.40 on Friday. The firm has a market cap of $1.41 billion, a PE ratio of 14.96 and a beta of 0.62. Safety Insurance Group has a twelve month low of $76.45 and a twelve month high of $99.70.

Safety Insurance Group (NASDAQ:SAFT) last issued its quarterly earnings data on Tuesday, February 26th. The insurance provider reported $1.83 EPS for the quarter. Safety Insurance Group had a net margin of 9.95% and a return on equity of 13.33%. The business had revenue of $202.90 million for the quarter.

In related news, VP David E. Krupa sold 3,588 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $86.91, for a total transaction of $311,833.08. Following the sale, the vice president now directly owns 11,398 shares in the company, valued at $990,600.18. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter J. Manning sold 1,000 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $87.81, for a total transaction of $87,810.00. Following the sale, the director now owns 7,000 shares in the company, valued at $614,670. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,788 shares of company stock worth $417,243. 4.90% of the stock is currently owned by company insiders.

Several large investors have recently modified their holdings of SAFT. Wells Fargo & Company MN raised its holdings in shares of Safety Insurance Group by 0.8% during the third quarter. Wells Fargo & Company MN now owns 86,723 shares of the insurance provider’s stock worth $7,770,000 after acquiring an additional 684 shares during the period. Martingale Asset Management L P increased its stake in Safety Insurance Group by 2.0% in the 3rd quarter. Martingale Asset Management L P now owns 46,111 shares of the insurance provider’s stock valued at $4,132,000 after buying an additional 900 shares during the last quarter. BlackRock Inc. increased its stake in Safety Insurance Group by 0.8% in the 3rd quarter. BlackRock Inc. now owns 2,076,405 shares of the insurance provider’s stock valued at $186,047,000 after buying an additional 17,005 shares during the last quarter. United Services Automobile Association acquired a new stake in Safety Insurance Group in the 3rd quarter valued at $380,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Safety Insurance Group in the 3rd quarter valued at $247,000. Institutional investors and hedge funds own 83.27% of the company’s stock.

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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