Safety Insurance Group (SAFT) Upgraded to “Buy” by BidaskClub
Safety Insurance Group (NASDAQ:SAFT) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Wednesday.
Separately, Compass Point raised shares of Safety Insurance Group from a “sell” rating to a “neutral” rating and set a $70.00 price objective on the stock in a research note on Thursday, March 8th.
Shares of SAFT stock opened at $76.65 on Wednesday. Safety Insurance Group has a 12-month low of $65.75 and a 12-month high of $84.00. The company has a market cap of $1,179.47, a price-to-earnings ratio of 18.79 and a beta of 0.76.
In other Safety Insurance Group news, VP David E. Krupa sold 7,000 shares of the business’s stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $80.30, for a total value of $562,100.00. Following the transaction, the vice president now directly owns 22,925 shares of the company’s stock, valued at approximately $1,840,877.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.90% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in SAFT. SG Americas Securities LLC increased its stake in Safety Insurance Group by 67.2% in the 3rd quarter. SG Americas Securities LLC now owns 2,450 shares of the insurance provider’s stock valued at $187,000 after buying an additional 985 shares during the period. Neuberger Berman Group LLC acquired a new position in Safety Insurance Group in the 3rd quarter valued at $220,000. Xact Kapitalforvaltning AB acquired a new position in Safety Insurance Group in the 4th quarter valued at $230,000. First Republic Investment Management Inc. acquired a new position in Safety Insurance Group in the 4th quarter valued at $322,000. Finally, Crossmark Global Holdings Inc. acquired a new position in Safety Insurance Group in the 3rd quarter valued at $329,000. 82.41% of the stock is currently owned by institutional investors.
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About Safety Insurance Group
Safety Insurance Group, Inc is a provider of private passenger automobile insurance. The Company offers a portfolio of property and casualty insurance products. The Company is engaged in property and casualty insurance operations. The Company’s product line includes private passenger automobile, commercial automobile, homeowners, business owners’ policies, personal umbrella, dwelling fire, commercial umbrella, inland marine and watercraft.
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