Safety Insurance Group (SAFT) Upgraded to Sell by BidaskClub

BidaskClub upgraded shares of Safety Insurance Group (NASDAQ:SAFT) from a strong sell rating to a sell rating in a report published on Saturday morning.

Shares of SAFT stock traded down $0.04 during mid-day trading on Friday, reaching $83.05. 28,513 shares of the stock traded hands, compared to its average volume of 38,789. Safety Insurance Group has a 1-year low of $70.45 and a 1-year high of $99.70. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 18.79 and a beta of 0.59.

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



In other news, Director David D. Mckown sold 3,765 shares of Safety Insurance Group stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $98.67, for a total transaction of $371,492.55. Following the sale, the director now directly owns 5,735 shares of the company’s stock, valued at $565,872.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP James Berry sold 5,130 shares of Safety Insurance Group stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $98.02, for a total value of $502,842.60. Following the sale, the vice president now directly owns 30,514 shares in the company, valued at $2,990,982.28. The disclosure for this sale can be found here. Insiders have sold 11,130 shares of company stock worth $1,086,000 over the last three months. Insiders own 4.90% of the company’s stock.

Several institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can lifted its stake in shares of Safety Insurance Group by 29.0% in the third quarter. Bank of Montreal Can now owns 30,990 shares of the insurance provider’s stock worth $2,777,000 after acquiring an additional 6,959 shares during the period. State of Alaska Department of Revenue lifted its stake in shares of Safety Insurance Group by 32.8% in the third quarter. State of Alaska Department of Revenue now owns 6,639 shares of the insurance provider’s stock worth $594,000 after acquiring an additional 1,640 shares during the period. Northern Trust Corp lifted its stake in shares of Safety Insurance Group by 0.6% in the second quarter. Northern Trust Corp now owns 544,532 shares of the insurance provider’s stock worth $46,503,000 after acquiring an additional 3,169 shares during the period. California Public Employees Retirement System lifted its stake in shares of Safety Insurance Group by 13.2% in the second quarter. California Public Employees Retirement System now owns 16,048 shares of the insurance provider’s stock worth $1,370,000 after acquiring an additional 1,871 shares during the period. Finally, Zebra Capital Management LLC lifted its stake in shares of Safety Insurance Group by 21.3% in the second quarter. Zebra Capital Management LLC now owns 5,916 shares of the insurance provider’s stock worth $505,000 after acquiring an additional 1,037 shares during the period. 80.17% of the stock is currently owned by institutional investors.

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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