BidaskClub upgraded shares of Safety Insurance Group (NASDAQ:SAFT) from a buy rating to a strong-buy rating in a research note released on Wednesday morning.

Separately, ValuEngine raised shares of Safety Insurance Group from a hold rating to a buy rating in a research report on Saturday, June 2nd.

Safety Insurance Group stock opened at $96.05 on Wednesday. The company has a market capitalization of $1.44 billion, a PE ratio of 21.37 and a beta of 0.61. Safety Insurance Group has a 1-year low of $67.50 and a 1-year high of $97.25.

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

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Tuesday, September 4th will be given a $0.80 dividend. The ex-dividend date is Friday, August 31st. This represents a $3.20 annualized dividend and a yield of 3.33%.

In other news, Director Frederic H. Lindeberg sold 1,000 shares of the firm’s stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $92.45, for a total value of $92,450.00. Following the sale, the director now directly owns 15,000 shares in the company, valued at approximately $1,386,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederic H. Lindeberg sold 2,000 shares of the firm’s stock in a transaction on Wednesday, June 6th. The shares were sold at an average price of $88.36, for a total transaction of $176,720.00. Following the completion of the sale, the director now owns 16,000 shares in the company, valued at $1,413,760. The disclosure for this sale can be found here. Company insiders own 4.90% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. California Public Employees Retirement System raised its holdings in shares of Safety Insurance Group by 13.2% in the 2nd quarter. California Public Employees Retirement System now owns 16,048 shares of the insurance provider’s stock valued at $1,370,000 after purchasing an additional 1,871 shares in the last quarter. Zebra Capital Management LLC raised its holdings in shares of Safety Insurance Group by 21.3% in the 2nd quarter. Zebra Capital Management LLC now owns 5,916 shares of the insurance provider’s stock valued at $505,000 after purchasing an additional 1,037 shares in the last quarter. grace capital acquired a new stake in shares of Safety Insurance Group in the 2nd quarter valued at $427,000. Vident Investment Advisory LLC acquired a new stake in shares of Safety Insurance Group in the 2nd quarter valued at $333,000. Finally, Raymond James & Associates acquired a new stake in shares of Safety Insurance Group in the 2nd quarter valued at $233,000. Institutional investors and hedge funds own 79.42% of the company’s stock.

Safety Insurance Group Company Profile

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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