Safety Insurance Group (NASDAQ:SAFT) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Safety Insurance Group, Inc. (NASDAQ:SAFT) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $74.05 and traded as high as $80.69. Safety Insurance Group shares last traded at $78.70, with a volume of 99,862 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Safety Insurance Group in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Safety Insurance Group presently has a consensus rating of “Hold”.

Safety Insurance Group Price Performance

The company has a 50 day moving average of $77.28 and a two-hundred day moving average of $74.05. The firm has a market cap of $1.17 billion, a P/E ratio of 13.36 and a beta of 0.22. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.03.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SAFT. JPMorgan Chase & Co. raised its holdings in shares of Safety Insurance Group by 67.9% during the second quarter. JPMorgan Chase & Co. now owns 310,072 shares of the insurance provider’s stock valued at $24,617,000 after acquiring an additional 125,398 shares during the period. Millennium Management LLC grew its holdings in Safety Insurance Group by 224.8% during the third quarter. Millennium Management LLC now owns 139,755 shares of the insurance provider’s stock valued at $9,879,000 after purchasing an additional 96,728 shares during the last quarter. Qube Research & Technologies Ltd boosted its holdings in Safety Insurance Group by 175.5% during the third quarter. Qube Research & Technologies Ltd now owns 116,269 shares of the insurance provider’s stock valued at $8,219,000 after acquiring an additional 74,059 shares during the period. Two Sigma Investments LP boosted its position in shares of Safety Insurance Group by 388.0% in the third quarter. Two Sigma Investments LP now owns 86,026 shares of the insurance provider’s stock valued at $6,081,000 after acquiring an additional 68,399 shares during the period. Finally, TABR Capital Management LLC acquired a new stake in Safety Insurance Group in the 4th quarter worth $2,935,000. Institutional investors and hedge funds own 81.04% of the company’s stock.

About Safety Insurance Group

Safety Insurance Group, Inc is a publicly traded property and casualty insurance holding company incorporated in Massachusetts in 1994. Its principal subsidiary, Safety Insurance Company, traces its roots back to 1923 and has since evolved into a regional personal lines insurer. The company is headquartered in Boston, Massachusetts, and trades on the Nasdaq under the symbol SAFT.

Safety Insurance Group focuses primarily on private passenger automobile and homeowners insurance products, along with dwelling fire, umbrella liability, and certain commercial auto coverages.