Safety Insurance Group (NASDAQ:SAFT) Upgraded at StockNews.com

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

Safety Insurance Group Stock Down 1.5%

Shares of SAFT opened at $80.05 on Monday. Safety Insurance Group has a 52-week low of $70.71 and a 52-week high of $90.00. The firm’s fifty day moving average is $77.44 and its two-hundred day moving average is $79.78. The stock has a market cap of $1.19 billion, a PE ratio of 15.85 and a beta of 0.22.

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

Safety Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.90 per share. The ex-dividend date is Monday, June 2nd. This represents a $3.60 annualized dividend and a dividend yield of 4.50%. Safety Insurance Group’s dividend payout ratio is presently 73.62%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SAFT. Signaturefd LLC raised its holdings in shares of Safety Insurance Group by 94.9% during the 4th quarter. Signaturefd LLC now owns 308 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 150 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Safety Insurance Group during the 4th quarter worth $34,000. Parallel Advisors LLC raised its holdings in shares of Safety Insurance Group by 169.9% during the 1st quarter. Parallel Advisors LLC now owns 448 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 282 shares during the period. Sterling Capital Management LLC raised its holdings in shares of Safety Insurance Group by 823.5% during the 4th quarter. Sterling Capital Management LLC now owns 471 shares of the insurance provider’s stock worth $39,000 after acquiring an additional 420 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Safety Insurance Group by 67.9% during the 1st quarter. GAMMA Investing LLC now owns 811 shares of the insurance provider’s stock worth $64,000 after acquiring an additional 328 shares during the period. Hedge funds and other institutional investors own 81.04% of the company’s stock.

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.