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

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "hold" rating to a "buy" rating in a report released on Monday.

Safety Insurance Group Price Performance

Shares of SAFT traded up $2.69 during trading hours on Monday, hitting $81.12. 78,743 shares of the company were exchanged, compared to its average volume of 54,767. The company has a market capitalization of $1.21 billion, a PE ratio of 16.06 and a beta of 0.22. The firm has a fifty day simple moving average of $77.26 and a 200-day simple moving average of $79.77. Safety Insurance Group has a one year low of $70.71 and a one year high of $90.00.

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

Institutional Trading of Safety Insurance Group

A number of large investors have recently made changes to their positions in SAFT. TimesSquare Capital Management LLC boosted its stake in Safety Insurance Group by 17.5% in the 4th quarter. TimesSquare Capital Management LLC now owns 602,449 shares of the insurance provider's stock worth $49,642,000 after purchasing an additional 89,561 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Safety Insurance Group by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 239,565 shares of the insurance provider's stock worth $19,740,000 after buying an additional 6,542 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Safety Insurance Group by 46.4% during the 4th quarter. Bank of New York Mellon Corp now owns 219,960 shares of the insurance provider's stock worth $18,125,000 after buying an additional 69,750 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Safety Insurance Group by 21.4% during the 4th quarter. JPMorgan Chase & Co. now owns 212,354 shares of the insurance provider's stock worth $17,498,000 after buying an additional 37,495 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Safety Insurance Group by 6.9% during the 4th quarter. Northern Trust Corp now owns 166,223 shares of the insurance provider's stock worth $13,697,000 after buying an additional 10,768 shares during the last quarter. Institutional investors own 81.04% of the company's stock.

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.

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