Safety Insurance Group (SAFT) Downgraded by BidaskClub to Buy

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

Separately, Compass Point downgraded shares of Safety Insurance Group from a neutral rating to a sell rating in a research report on Monday, October 16th.

Safety Insurance Group (SAFT) opened at $80.05 on Thursday. The stock has a market cap of $1,212.84, a P/E ratio of 19.29 and a beta of 0.78. Safety Insurance Group has a 1 year low of $65.75 and a 1 year high of $84.00.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a $0.80 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $3.20 annualized dividend and a dividend yield of 4.00%. Safety Insurance Group’s dividend payout ratio is currently 77.11%.

In other news, Director Frederic H. Lindeberg sold 1,000 shares of Safety Insurance Group stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $83.16, for a total value of $83,160.00. Following the completion of the sale, the director now owns 19,000 shares in the company, valued at approximately $1,580,040. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frederic H. Lindeberg sold 2,000 shares of Safety Insurance Group stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $82.35, for a total transaction of $164,700.00. Following the completion of the sale, the director now owns 20,000 shares of the company’s stock, valued at approximately $1,647,000. The disclosure for this sale can be found here. Insiders own 4.90% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Texas Permanent School Fund increased its stake in shares of Safety Insurance Group by 1.3% in the 2nd quarter. Texas Permanent School Fund now owns 10,445 shares of the insurance provider’s stock valued at $713,000 after acquiring an additional 134 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Safety Insurance Group by 1.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,048 shares of the insurance provider’s stock valued at $755,000 after acquiring an additional 171 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of Safety Insurance Group by 1.4% in the 2nd quarter. Bessemer Group Inc. now owns 21,200 shares of the insurance provider’s stock valued at $1,448,000 after acquiring an additional 300 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Safety Insurance Group by 0.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 75,294 shares of the insurance provider’s stock valued at $5,143,000 after acquiring an additional 375 shares in the last quarter. Finally, Strs Ohio increased its stake in shares of Safety Insurance Group by 3.3% in the 2nd quarter. Strs Ohio now owns 12,500 shares of the insurance provider’s stock valued at $853,000 after acquiring an additional 400 shares in the last quarter. Institutional investors own 78.61% of the company’s stock.

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Safety Insurance Group Company Profile

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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