Safety Insurance Group (SAFT) Rating Lowered to Buy at BidaskClub

Safety Insurance Group (NASDAQ:SAFT) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

Separately, Compass Point downgraded shares of Safety Insurance Group from a “neutral” rating to a “sell” rating in a research report on Monday, October 16th.

Shares of Safety Insurance Group (NASDAQ SAFT) opened at $80.05 on Thursday. The firm has a market cap of $1,224.96, a P/E ratio of 19.48 and a beta of 0.78. Safety Insurance Group has a 12-month low of $65.75 and a 12-month high of $84.00.

In other Safety Insurance Group news, Director Frederic H. Lindeberg sold 2,000 shares of Safety Insurance Group stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $82.35, for a total transaction of $164,700.00. Following the completion of the sale, the director now directly owns 20,000 shares in the company, valued at approximately $1,647,000. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frederic H. Lindeberg sold 1,000 shares of Safety Insurance Group stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $83.16, for a total transaction of $83,160.00. Following the sale, the director now owns 19,000 shares of the company’s stock, valued at $1,580,040. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in SAFT. Vanguard Group Inc. lifted its stake in Safety Insurance Group by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,382,190 shares of the insurance provider’s stock valued at $94,404,000 after acquiring an additional 43,812 shares during the period. Renaissance Technologies LLC lifted its stake in Safety Insurance Group by 10.5% during the 2nd quarter. Renaissance Technologies LLC now owns 343,686 shares of the insurance provider’s stock valued at $23,474,000 after acquiring an additional 32,700 shares during the period. Wells Fargo & Company MN lifted its stake in Safety Insurance Group by 54.2% during the 3rd quarter. Wells Fargo & Company MN now owns 79,308 shares of the insurance provider’s stock valued at $6,052,000 after acquiring an additional 27,860 shares during the period. Old Mutual Global Investors UK Ltd. acquired a new stake in Safety Insurance Group during the 2nd quarter valued at approximately $1,799,000. Finally, Westwood Holdings Group Inc. lifted its stake in Safety Insurance Group by 25.1% during the 2nd quarter. Westwood Holdings Group Inc. now owns 123,365 shares of the insurance provider’s stock valued at $8,426,000 after acquiring an additional 24,745 shares during the period. Institutional investors and hedge funds own 78.61% of the company’s stock.

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Safety Insurance Group Company Profile

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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