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

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

Safety Insurance Group Trading Up 2.3%

NASDAQ SAFT traded up $1.86 during trading on Thursday, reaching $83.48. The company's stock had a trading volume of 10,589 shares, compared to its average volume of 54,955. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 16.51 and a beta of 0.22. Safety Insurance Group has a 12 month low of $70.71 and a 12 month high of $90.00. The firm has a 50 day moving average price of $78.27 and a 200 day moving average price of $79.84.

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

Institutional Trading of Safety Insurance Group

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC bought a new stake in shares of Safety Insurance Group during the 1st quarter worth approximately $2,717,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Safety Insurance Group by 9.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 33,747 shares of the insurance provider's stock worth $2,662,000 after acquiring an additional 3,011 shares during the period. Dean Capital Management lifted its holdings in shares of Safety Insurance Group by 171.9% during the 1st quarter. Dean Capital Management now owns 20,765 shares of the insurance provider's stock worth $1,638,000 after acquiring an additional 13,128 shares during the period. Millennium Management LLC lifted its holdings in shares of Safety Insurance Group by 284.9% during the 1st quarter. Millennium Management LLC now owns 85,761 shares of the insurance provider's stock worth $6,765,000 after acquiring an additional 63,480 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Safety Insurance Group by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,734 shares of the insurance provider's stock worth $689,000 after purchasing an additional 389 shares in the last quarter. Institutional investors own 81.04% of the company's stock.

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.