Safety Insurance Group (NASDAQ:SAFT) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Friday.

Separately, ValuEngine upgraded Safety Insurance Group from a “hold” rating to a “buy” rating in a research report on Saturday, June 2nd.

Shares of NASDAQ SAFT opened at $96.35 on Friday. The firm has a market capitalization of $1.45 billion, a PE ratio of 21.50 and a beta of 0.59. Safety Insurance Group has a fifty-two week low of $70.45 and a fifty-two week high of $99.70.

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

In other news, Director Frederic H. Lindeberg sold 1,000 shares of Safety Insurance Group stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $92.45, for a total value of $92,450.00. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $1,386,750. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David D. Mckown sold 1,235 shares of Safety Insurance Group stock in a transaction on Monday, September 10th. The shares were sold at an average price of $96.53, for a total value of $119,214.55. Following the completion of the transaction, the director now owns 4,500 shares of the company’s stock, valued at $434,385. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,000 shares of company stock valued at $583,157. 4.90% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in SAFT. BlackRock Inc. grew its position in Safety Insurance Group by 6.3% during the second quarter. BlackRock Inc. now owns 2,059,400 shares of the insurance provider’s stock worth $175,873,000 after buying an additional 121,796 shares in the last quarter. Westwood Holdings Group Inc. grew its position in Safety Insurance Group by 14.4% during the first quarter. Westwood Holdings Group Inc. now owns 176,300 shares of the insurance provider’s stock worth $13,549,000 after buying an additional 22,175 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in Safety Insurance Group by 5.1% during the second quarter. Robeco Institutional Asset Management B.V. now owns 379,772 shares of the insurance provider’s stock worth $32,434,000 after buying an additional 18,498 shares in the last quarter. Russell Investments Group Ltd. grew its position in Safety Insurance Group by 69.4% during the first quarter. Russell Investments Group Ltd. now owns 40,068 shares of the insurance provider’s stock worth $3,079,000 after buying an additional 16,420 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in Safety Insurance Group by 12.2% during the first quarter. Schwab Charles Investment Management Inc. now owns 150,787 shares of the insurance provider’s stock worth $11,588,000 after buying an additional 16,344 shares in the last quarter. Institutional investors own 80.17% 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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