Safety Insurance Group (SAFT) Downgraded to Hold at BidaskClub
BidaskClub downgraded shares of Safety Insurance Group (NASDAQ:SAFT) from a buy rating to a hold rating in a report published on Thursday morning.
Separately, Compass Point lowered 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 $80.50 on Thursday. The stock has a market capitalization of $1,230.00, a P/E ratio of 19.44 and a beta of 0.78. Safety Insurance Group has a 52-week low of $65.75 and a 52-week high of $84.00.
The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were given a $0.80 dividend. The ex-dividend date was Thursday, November 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.98%. Safety Insurance Group’s dividend payout ratio (DPR) is presently 77.29%.
In related news, Director Frederic H. Lindeberg sold 2,000 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $82.35, for a total value of $164,700.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at $1,647,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frederic H. Lindeberg sold 1,000 shares of the stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $83.16, for a total value of $83,160.00. Following the completion of the transaction, 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. Insiders sold 19,505 shares of company stock valued at $1,588,066 over the last 90 days. Company insiders own 4.90% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC grew its position in Safety Insurance Group by 67.2% in the third quarter. SG Americas Securities LLC now owns 2,450 shares of the insurance provider’s stock worth $187,000 after acquiring an additional 985 shares during the period. Piedmont Investment Advisors LLC purchased a new position in Safety Insurance Group in the second quarter worth approximately $211,000. Grimes & Company Inc. purchased a new position in Safety Insurance Group in the third quarter worth approximately $217,000. Neuberger Berman Group LLC purchased a new position in Safety Insurance Group in the third quarter worth approximately $220,000. Finally, QS Investors LLC grew its position in Safety Insurance Group by 45.0% in the second quarter. QS Investors LLC now owns 4,403 shares of the insurance provider’s stock worth $301,000 after acquiring an additional 1,367 shares during the period. Institutional investors own 78.59% of the company’s stock.
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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