Safety Insurance Group's (SAFT) Hold (C) Rating Reiterated at Weiss Ratings

Key Points

• Weiss Ratings has reiterated a "hold (C)" rating for Safety Insurance Group (NASDAQ:SAFT), indicating a neutral outlook on the stock
• The stock is currently trading down 0.6%, with a market capitalization of $1.04 billion and a recent earnings report showing an EPS of $1.45, below the consensus estimate of $1.60.
• Institutional investors hold 81.04% of Safety Insurance Group's stock, with notable increases in holdings from various funds during the first quarter.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report)'s stock had its "hold (c)" rating restated by investment analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen downgraded shares of Safety Insurance Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Hold".

Safety Insurance Group Stock Down 0.6%

Safety Insurance Group stock opened at $69.52 on Wednesday. The firm has a 50 day moving average price of $72.25 and a 200 day moving average price of $75.70. The company has a market capitalization of $1.04 billion, a PE ratio of 12.18 and a beta of 0.26. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.42 and a current ratio of 0.42. Safety Insurance Group has a fifty-two week low of $68.76 and a fifty-two week high of $90.00.

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

Insider Activity at Safety Insurance Group

In other news, Director Dennis J. Langwell bought 2,000 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was purchased at an average price of $72.39 per share, for a total transaction of $144,780.00. Following the completion of the purchase, the director owned 8,000 shares in the company, valued at approximately $579,120. This trade represents a 33.33% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have acquired a total of 4,055 shares of company stock worth $291,705 in the last three months. Insiders own 2.00% of the company's stock.

Hedge Funds Weigh In On Safety Insurance Group

A number of institutional investors and hedge funds have recently modified their holdings of SAFT. GAMMA Investing LLC grew its stake in shares of Safety Insurance Group by 67.9% during the first quarter. GAMMA Investing LLC now owns 811 shares of the insurance provider's stock worth $64,000 after purchasing an additional 328 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Safety Insurance Group in the first quarter valued at $927,000. Diversified Trust Co purchased a new stake in Safety Insurance Group in the first quarter valued at $430,000. Allspring Global Investments Holdings LLC lifted its position in Safety Insurance Group by 52.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 18,137 shares of the insurance provider's stock valued at $1,431,000 after acquiring an additional 6,223 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Safety Insurance Group by 2.7% in the first quarter. Principal Financial Group Inc. now owns 73,878 shares of the insurance provider's stock valued at $5,827,000 after acquiring an additional 1,926 shares during the last quarter. Institutional investors and hedge funds 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.

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