Safety Insurance Group (NASDAQ:SAFT) Rating Lowered to Hold at BidaskClub

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

NASDAQ SAFT opened at $96.23 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.05. The business’s fifty day moving average price is $94.59. The company has a market cap of $1.47 billion, a P/E ratio of 14.17 and a beta of 0.62. Safety Insurance Group has a 1 year low of $77.58 and a 1 year high of $99.70.

Safety Insurance Group (NASDAQ:SAFT) last posted its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $1.36 earnings per share (EPS) for the quarter. The business had revenue of $222.58 million during the quarter. Safety Insurance Group had a net margin of 12.25% and a return on equity of 14.41%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Prudential Financial Inc. raised its position in Safety Insurance Group by 1.3% in the fourth quarter. Prudential Financial Inc. now owns 27,606 shares of the insurance provider’s stock valued at $2,258,000 after purchasing an additional 345 shares during the period. BlackRock Inc. raised its position in Safety Insurance Group by 3.0% in the fourth quarter. BlackRock Inc. now owns 2,138,390 shares of the insurance provider’s stock valued at $174,944,000 after purchasing an additional 61,985 shares during the period. Bank of New York Mellon Corp raised its position in Safety Insurance Group by 4.3% in the fourth quarter. Bank of New York Mellon Corp now owns 359,681 shares of the insurance provider’s stock valued at $29,424,000 after purchasing an additional 14,898 shares during the period. Texas Permanent School Fund raised its position in Safety Insurance Group by 4.0% in the fourth quarter. Texas Permanent School Fund now owns 9,503 shares of the insurance provider’s stock valued at $777,000 after purchasing an additional 365 shares during the period. Finally, Great West Life Assurance Co. Can raised its position in Safety Insurance Group by 10.4% in the fourth quarter. Great West Life Assurance Co. Can now owns 19,546 shares of the insurance provider’s stock valued at $1,473,000 after purchasing an additional 1,839 shares during the period. 81.30% of the stock is owned by institutional investors and hedge funds.

About Safety Insurance Group

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.

Read More: Diversification Important in Investing

Receive News & Ratings for Safety Insurance Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Safety Insurance Group and related companies with MarketBeat.com's FREE daily email newsletter.