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

Key Points

• Safety Insurance Group has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, indicating a cautious outlook on the stock.
• The company reported a quarterly EPS of $1.45, missing the consensus estimate of $1.60, with revenue of $345.83 million and a net margin of 7.07%.
• Institutional investors and hedge funds control approximately 81.04% of Safety Insurance Group's stock, with several firms recently adjusting their holdings.

Wall Street Zen downgraded shares of Safety Insurance Group (NASDAQ:SAFT - Free Report) from a buy rating to a hold rating in a report issued on Saturday.

Safety Insurance Group Stock Performance

Shares of NASDAQ SAFT traded up $0.60 during trading hours on Friday, reaching $73.95. The stock had a trading volume of 11,054 shares, compared to its average volume of 64,945. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 12.95 and a beta of 0.26. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.03. Safety Insurance Group has a fifty-two week low of $68.76 and a fifty-two week high of $90.00. The firm has a 50-day moving average of $74.97 and a 200-day moving average of $77.14.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last announced its earnings results on Wednesday, August 6th. The insurance provider reported $1.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.60 by ($0.15). Safety Insurance Group had a net margin of 7.07% and a return on equity of 8.34%. The firm had revenue of $345.83 million during the quarter.

Safety Insurance Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a positive change from Safety Insurance Group's previous quarterly dividend of $0.90. Safety Insurance Group's payout ratio is 63.05%.

Insiders Place Their Bets

In related news, Director Dennis J. Langwell acquired 2,000 shares of the firm's stock in a transaction on Monday, August 11th. The stock was bought at an average cost of $71.49 per share, with a total value of $142,980.00. Following the transaction, the director owned 6,000 shares of the company's stock, valued at $428,940. The trade was a 50.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.00% of the company's stock.

Institutional Trading of Safety Insurance Group

Hedge funds have recently modified their holdings of the business. Capital Advisors Ltd. LLC lifted its holdings in shares of Safety Insurance Group by 15,950.0% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 321 shares of the insurance provider's stock valued at $25,000 after buying an additional 319 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Safety Insurance Group in the 4th quarter valued at approximately $34,000. Parallel Advisors LLC lifted its holdings in shares of Safety Insurance Group by 169.9% in the 1st quarter. Parallel Advisors LLC now owns 448 shares of the insurance provider's stock valued at $35,000 after buying an additional 282 shares during the period. Sterling Capital Management LLC lifted its holdings in shares of Safety Insurance Group by 823.5% in the 4th quarter. Sterling Capital Management LLC now owns 471 shares of the insurance provider's stock valued at $39,000 after buying an additional 420 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Safety Insurance Group by 67.9% in the 1st quarter. GAMMA Investing LLC now owns 811 shares of the insurance provider's stock valued at $64,000 after buying an additional 328 shares during the period. 81.04% 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, and homeowner insurance in 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.