Safety Insurance Group (NASDAQ:SAFT) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Safety Insurance Group (NASDAQ:SAFT - Free Report) from a hold rating to a buy rating in a research report released on Monday.

Safety Insurance Group Stock Up 0.6%

Shares of NASDAQ:SAFT traded up $0.47 during mid-day trading on Monday, reaching $83.13. 56,917 shares of the stock were exchanged, compared to its average volume of 54,949. The company has a market cap of $1.24 billion, a P/E ratio of 16.46 and a beta of 0.22. Safety Insurance Group has a one year low of $70.71 and a one year high of $90.00. The stock's 50 day simple moving average is $77.71 and its 200-day simple moving average is $79.83.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The insurance provider reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.03. The business had revenue of $298.97 million during the quarter. Safety Insurance Group had a return on equity of 6.35% and a net margin of 6.86%.

Safety Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $3.60 annualized dividend and a yield of 4.33%. Safety Insurance Group's dividend payout ratio (DPR) is presently 73.62%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Signaturefd LLC boosted its position in Safety Insurance Group by 94.9% during the fourth quarter. Signaturefd LLC now owns 308 shares of the insurance provider's stock valued at $25,000 after purchasing an additional 150 shares during the last quarter. Naples Global Advisors LLC boosted its position in Safety Insurance Group by 1.3% during the fourth quarter. Naples Global Advisors LLC now owns 17,373 shares of the insurance provider's stock valued at $1,432,000 after purchasing an additional 225 shares during the last quarter. Anchor Capital Advisors LLC boosted its position in Safety Insurance Group by 1.6% during the fourth quarter. Anchor Capital Advisors LLC now owns 16,890 shares of the insurance provider's stock valued at $1,392,000 after purchasing an additional 268 shares during the last quarter. Parallel Advisors LLC boosted its position in Safety Insurance Group by 169.9% during the first quarter. Parallel Advisors LLC now owns 448 shares of the insurance provider's stock valued at $35,000 after purchasing an additional 282 shares during the last quarter. Finally, WINTON GROUP Ltd boosted its position in Safety Insurance Group by 2.3% during the fourth quarter. WINTON GROUP Ltd now owns 13,224 shares of the insurance provider's stock valued at $1,090,000 after purchasing an additional 293 shares during the last quarter. 81.04% of the stock is owned by institutional investors and hedge funds.

Safety Insurance Group Company Profile

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.