Wall Street Zen Downgrades Safety Insurance Group (NASDAQ:SAFT) to Hold

Safety Insurance Group (NASDAQ:SAFT) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Safety Insurance Group in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Safety Insurance Group Stock Performance

NASDAQ:SAFT opened at $71.43 on Friday. The firm has a 50 day simple moving average of $74.46 and a 200-day simple moving average of $75.55. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.39 and a quick ratio of 0.40. The firm has a market cap of $1.05 billion, a PE ratio of 16.89 and a beta of 0.24. Safety Insurance Group has a 1-year low of $67.04 and a 1-year high of $84.20.

Safety Insurance Group (NASDAQ:SAFT) last posted its quarterly earnings data on Wednesday, May 6th. The insurance provider reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($2.17). Safety Insurance Group had a net margin of 4.94% and a return on equity of 6.31%. The firm had revenue of $314.67 million during the quarter, compared to analyst estimates of $315.01 million.

Insider Buying and Selling

In related news, major shareholder Corp Srb sold 14,151 shares of the company’s stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $71.12, for a total transaction of $1,006,419.12. Following the completion of the transaction, the insider owned 1,794,655 shares of the company’s stock, valued at approximately $127,635,863.60. This represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 36,304 shares of company stock worth $2,728,283 over the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Safety Insurance Group

Large investors have recently made changes to their positions in the business. Allworth Financial LP increased its position in shares of Safety Insurance Group by 74.8% in the fourth quarter. Allworth Financial LP now owns 388 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 166 shares in the last quarter. Bayban acquired a new stake in shares of Safety Insurance Group in the fourth quarter worth $31,000. PNC Financial Services Group Inc. increased its position in shares of Safety Insurance Group by 62.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 416 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 160 shares in the last quarter. Capital Advisors Ltd. LLC increased its position in shares of Safety Insurance Group by 419.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 488 shares of the insurance provider’s stock worth $38,000 after acquiring an additional 394 shares in the last quarter. Finally, Parallel Advisors LLC increased its position in shares of Safety Insurance Group by 653.0% in the fourth quarter. Parallel Advisors LLC now owns 497 shares of the insurance provider’s stock worth $39,000 after acquiring an additional 431 shares in the last quarter. Institutional investors and hedge funds own 81.04% of the company’s stock.

Safety Insurance Group Company Profile

Safety Insurance Group, Inc is a publicly traded property and casualty insurance holding company incorporated in Massachusetts in 1994. Its principal subsidiary, Safety Insurance Company, traces its roots back to 1923 and has since evolved into a regional personal lines insurer. The company is headquartered in Boston, Massachusetts, and trades on the Nasdaq under the symbol SAFT.

Safety Insurance Group focuses primarily on private passenger automobile and homeowners insurance products, along with dwelling fire, umbrella liability, and certain commercial auto coverages.