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

Safety Insurance Group (NASDAQ:SAFT) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

Safety Insurance Group Stock Performance

Shares of NASDAQ:SAFT traded down $1.17 during trading on Thursday, reaching $78.84. 45,251 shares of the stock traded hands, compared to its average volume of 54,600. The stock has a market cap of $1.17 billion, a P/E ratio of 22.72 and a beta of 0.17. The stock has a 50-day moving average of $78.80 and a two-hundred day moving average of $80.38. Safety Insurance Group has a 52-week low of $65.78 and a 52-week high of $88.72.

Safety Insurance Group (NASDAQ:SAFT) last released its quarterly earnings data on Wednesday, May 8th. The insurance provider reported $0.93 earnings per share (EPS) for the quarter. Safety Insurance Group had a return on equity of 4.90% and a net margin of 5.20%. The business had revenue of $268.23 million for the quarter.

Insider Buying and Selling

In other news, VP Glenn Hiltpold sold 338 shares of Safety Insurance Group stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $76.75, for a total value of $25,941.50. Following the completion of the sale, the vice president now directly owns 11,593 shares in the company, valued at $889,762.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Safety Insurance Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Illinois Municipal Retirement Fund increased its position in Safety Insurance Group by 1.8% during the first quarter. Illinois Municipal Retirement Fund now owns 8,526 shares of the insurance provider’s stock valued at $701,000 after acquiring an additional 154 shares during the last quarter. Texas Permanent School Fund Corp grew its stake in shares of Safety Insurance Group by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 12,946 shares of the insurance provider’s stock valued at $1,064,000 after purchasing an additional 168 shares during the period. ProShare Advisors LLC increased its position in shares of Safety Insurance Group by 7.3% during the 1st quarter. ProShare Advisors LLC now owns 2,905 shares of the insurance provider’s stock valued at $239,000 after purchasing an additional 198 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of Safety Insurance Group by 2.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 7,500 shares of the insurance provider’s stock worth $563,000 after purchasing an additional 200 shares during the period. Finally, Bessemer Group Inc. boosted its holdings in shares of Safety Insurance Group by 458.9% in the first quarter. Bessemer Group Inc. now owns 313 shares of the insurance provider’s stock worth $26,000 after buying an additional 257 shares during the last quarter. 81.04% of the stock is currently owned by hedge funds and other institutional investors.

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.