Safety Insurance Group (NASDAQ:SAFT) Upgraded to Buy at Wall Street Zen

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Thursday.

Safety Insurance Group Stock Down 0.3%

NASDAQ:SAFT traded down $0.27 on Thursday, reaching $82.19. The stock had a trading volume of 5,776 shares, compared to its average volume of 54,841. The company has a market capitalization of $1.22 billion, a P/E ratio of 16.28 and a beta of 0.22. Safety Insurance Group has a 1-year low of $70.71 and a 1-year high of $90.00. The stock has a fifty day moving average price of $78.05 and a 200-day moving average price of $79.93.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.25 by $0.03. The company had revenue of $298.97 million during the quarter. Safety Insurance Group had a net margin of 6.86% and a return on equity of 6.35%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Signaturefd LLC grew its holdings in Safety Insurance Group by 94.9% during the 4th quarter. Signaturefd LLC now owns 308 shares of the insurance provider's stock worth $25,000 after acquiring an additional 150 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Safety Insurance Group in the fourth quarter valued at approximately $34,000. Parallel Advisors LLC grew its holdings in Safety Insurance Group by 169.9% during the 1st quarter. Parallel Advisors LLC now owns 448 shares of the insurance provider's stock worth $35,000 after acquiring an additional 282 shares during the period. Sterling Capital Management LLC raised its position in shares of Safety Insurance Group by 823.5% during the 4th quarter. Sterling Capital Management LLC now owns 471 shares of the insurance provider's stock valued at $39,000 after acquiring an additional 420 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake 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 purchasing an additional 328 shares during the period. 81.04% of the stock is owned by institutional investors.

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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