Safety Insurance Group (NASDAQ:SAFT) Rating Lowered to “Hold” at StockNews.com

Safety Insurance Group (NASDAQ:SAFT) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

Safety Insurance Group Trading Up 10.7 %

NASDAQ:SAFT traded up $8.53 during mid-day trading on Wednesday, reaching $88.30. The company’s stock had a trading volume of 142,328 shares, compared to its average volume of 51,849. Safety Insurance Group has a 12-month low of $71.99 and a 12-month high of $90.00. The stock has a market cap of $1.31 billion, a P/E ratio of 25.59 and a beta of 0.17. The firm’s fifty day moving average price is $82.00 and its two-hundred day moving average price is $80.54.

Safety Insurance Group (NASDAQ:SAFT) last released its quarterly earnings results on Wednesday, August 7th. The insurance provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.12). Safety Insurance Group had a net margin of 4.96% and a return on equity of 5.53%. The business had revenue of $269.78 million for the quarter.

Insider Buying and Selling

In other Safety Insurance Group news, VP Glenn Hiltpold sold 389 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $84.41, for a total value of $32,835.49. Following the completion of the transaction, the vice president now directly owns 11,204 shares in the company, valued at $945,729.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 915 shares of company stock valued at $75,125. 2.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bessemer Group Inc. boosted its position in shares of Safety Insurance Group by 458.9% during the 1st quarter. Bessemer Group Inc. now owns 313 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 257 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Safety Insurance Group during the 1st quarter valued at approximately $152,000. Robeco Institutional Asset Management B.V. bought a new position in shares of Safety Insurance Group during the 3rd quarter valued at approximately $202,000. Mutual of America Capital Management LLC bought a new position in shares of Safety Insurance Group during the 1st quarter valued at approximately $210,000. Finally, ProShare Advisors LLC boosted 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 acquiring an additional 198 shares during the last quarter. 81.04% of the stock is currently owned by institutional investors.

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.