Safety Insurance Group Inc. (NASDAQ:SAFT) Given $58.00 Consensus Target Price by Analysts
Shares of Safety Insurance Group Inc. (NASDAQ:SAFT) have been given an average broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation.
Brokers have set a twelve-month consensus price objective of $58.00 for the company, according to Zacks. Zacks has also assigned Safety Insurance Group an industry rank of 188 out of 265 based on the ratings given to related companies.
Separately, Compass Point raised their price objective on shares of Safety Insurance Group from $58.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, August 5th.
Shares of Safety Insurance Group (NASDAQ:SAFT) opened at 67.03 on Monday. Safety Insurance Group has a one year low of $50.88 and a one year high of $68.69. The company has a 50-day moving average of $66.05 and a 200-day moving average of $60.90. The company has a market capitalization of $1.02 billion, a PE ratio of 17.88 and a beta of 0.74.
Safety Insurance Group (NASDAQ:SAFT) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.27. Safety Insurance Group had a net margin of 6.99% and a return on equity of 8.62%. On average, analysts anticipate that Safety Insurance Group will post $4.13 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were given a dividend of $0.70 per share. The ex-dividend date was Tuesday, August 30th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.18%. Safety Insurance Group’s dividend payout ratio is 74.87%.
In other news, Director David F. Brussard sold 20,000 shares of Safety Insurance Group stock in a transaction on Friday, September 9th. The shares were sold at an average price of $66.66, for a total transaction of $1,333,200.00. Following the transaction, the director now directly owns 52,069 shares of the company’s stock, valued at $3,470,919.54. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 6.20% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. PineBridge Investments L.P. boosted its position in shares of Safety Insurance Group by 6.4% in the second quarter. PineBridge Investments L.P. now owns 1,788 shares of the company’s stock worth $110,000 after buying an additional 107 shares in the last quarter. Teacher Retirement System of Texas boosted its position in shares of Safety Insurance Group by 28.5% in the second quarter. Teacher Retirement System of Texas now owns 2,015 shares of the company’s stock worth $124,000 after buying an additional 447 shares in the last quarter. Mason Street Advisors LLC purchased a new position in shares of Safety Insurance Group during the second quarter worth $170,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of Safety Insurance Group during the second quarter worth $179,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Safety Insurance Group during the second quarter worth $203,000. 79.32% of the stock is currently owned by institutional investors.
About Safety Insurance Group
Safety Insurance Group, Inc is a provider of personal lines property and casualty insurance focuses primarily on the Massachusetts market. The Company provides private passenger automobile insurance. In addition to private passenger automobile insurance, it offers a portfolio of property and casualty insurance products, including commercial automobile, homeowners, dwelling fire, umbrella and business owner policies.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Safety Insurance Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Safety Insurance Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.