Safety Insurance Group, Inc. (SAFT) Upgraded to “Hold” at BidaskClub

BidaskClub upgraded shares of Safety Insurance Group, Inc. (NASDAQ:SAFT) from a sell rating to a hold rating in a report released on Saturday morning.

Shares of Safety Insurance Group (NASDAQ:SAFT) traded up 2.51% during mid-day trading on Friday, hitting $69.45. 50,478 shares of the company traded hands. The firm has a 50-day moving average price of $68.37 and a 200 day moving average price of $70.79. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 16.47 and a beta of 0.68. Safety Insurance Group has a 52-week low of $59.64 and a 52-week high of $75.05.

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The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date is Tuesday, May 30th. Safety Insurance Group’s dividend payout ratio is presently 67.15%.

In other Safety Insurance Group news, VP David E. Krupa sold 1,492 shares of the company’s stock in a transaction dated Friday, March 17th. The shares were sold at an average price of $71.30, for a total transaction of $106,379.60. Following the completion of the sale, the vice president now directly owns 23,670 shares of the company’s stock, valued at $1,687,671. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP David E. Krupa sold 745 shares of the company’s stock in a transaction dated Friday, March 31st. The shares were sold at an average price of $69.30, for a total transaction of $51,628.50. Following the sale, the vice president now directly owns 22,925 shares of the company’s stock, valued at $1,588,702.50. The disclosure for this sale can be found here. 6.20% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of SAFT. BlackRock Inc. raised its stake in Safety Insurance Group by 35,898.7% in the first quarter. BlackRock Inc. now owns 1,465,146 shares of the insurance provider’s stock worth $102,706,000 after buying an additional 1,461,076 shares in the last quarter. Vanguard Group Inc. raised its stake in Safety Insurance Group by 6.0% in the first quarter. Vanguard Group Inc. now owns 1,338,378 shares of the insurance provider’s stock worth $93,821,000 after buying an additional 75,812 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Safety Insurance Group by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,272,944 shares of the insurance provider’s stock worth $89,233,000 after buying an additional 20,774 shares in the last quarter. State Street Corp raised its stake in Safety Insurance Group by 23.1% in the first quarter. State Street Corp now owns 429,859 shares of the insurance provider’s stock worth $30,126,000 after buying an additional 80,753 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Safety Insurance Group by 3.6% in the first quarter. Bank of New York Mellon Corp now owns 407,343 shares of the insurance provider’s stock worth $28,553,000 after buying an additional 14,229 shares in the last quarter. 77.58% of the stock is owned by institutional investors.

About Safety Insurance Group

Safety Insurance Group, Inc is a provider of private passenger automobile insurance. The Company offers a portfolio of property and casualty insurance products. The Company is engaged in property and casualty insurance operations. The Company’s product line includes private passenger automobile, commercial automobile, homeowners, business owners’ policies, personal umbrella, dwelling fire, commercial umbrella, inland marine and watercraft.

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