Corp Srb Sells 1,240,352 Shares of Safety Insurance Group (NASDAQ:SAFT) Stock

Safety Insurance Group, Inc. (NASDAQ:SAFT) major shareholder Corp Srb sold 1,240,352 shares of Safety Insurance Group stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $103.07, for a total value of $127,843,080.64. Following the completion of the sale, the insider owned 473,387 shares in the company, valued at approximately $48,791,998.09. This trade represents a 72.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Corp Srb also recently made the following trade(s):

• On Friday, July 24th, Corp Srb sold 38,835 shares of Safety Insurance Group stock. The stock was sold at an average price of $103.08, for a total transaction of $4,003,111.80.
• On Monday, July 13th, Corp Srb sold 34,272 shares of Safety Insurance Group stock. The stock was sold at an average price of $76.04, for a total transaction of $2,606,042.88.
• On Thursday, July 9th, Corp Srb sold 2,650 shares of Safety Insurance Group stock. The shares were sold at an average price of $76.51, for a total value of $202,751.50.

Safety Insurance Group Price Performance

Shares of NASDAQ:SAFT opened at $103.10 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.39 and a current ratio of 0.39. The stock has a market cap of $1.51 billion, a PE ratio of 24.37 and a beta of 0.21. Safety Insurance Group, Inc. has a one year low of $67.04 and a one year high of $103.50. The business’s fifty day moving average price is $75.31 and its two-hundred day moving average price is $75.31.

Safety Insurance Group (NASDAQ:SAFT) last released its earnings results on Wednesday, May 6th. The insurance provider reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($2.17). The firm had revenue of $314.67 million during the quarter, compared to analysts’ expectations of $315.01 million. Safety Insurance Group had a net margin of 4.94% and a return on equity of 6.31%. On average, analysts forecast that Safety Insurance Group, Inc. will post 4.75 EPS for the current fiscal year.

Safety Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Monday, June 1st were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Monday, June 1st. Safety Insurance Group’s dividend payout ratio (DPR) is currently 87.00%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SAFT. Weiss Ratings upgraded Safety Insurance Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 24th. Zacks Research upgraded Safety Insurance Group to a “hold” rating in a research report on Wednesday, May 27th. Finally, Wall Street Zen raised shares of Safety Insurance Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold”.

Institutional Trading of Safety Insurance Group

Several large investors have recently added to or reduced their stakes in the company. Allworth Financial LP increased its position in Safety Insurance Group by 74.8% in the fourth quarter. Allworth Financial LP now owns 388 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 166 shares during the period. Bayban acquired a new position in shares of Safety Insurance Group in the 4th quarter valued at $31,000. PNC Financial Services Group Inc. increased its holdings in shares of Safety Insurance Group by 62.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 416 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 160 shares in the last quarter. Capital Advisors Ltd. LLC raised its holdings in Safety Insurance Group by 419.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 488 shares of the insurance provider’s stock worth $38,000 after buying an additional 394 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in shares of Safety Insurance Group by 653.0% in the fourth quarter. Parallel Advisors LLC now owns 497 shares of the insurance provider’s stock valued at $39,000 after buying an additional 431 shares during the period. 81.04% of the stock is owned by institutional investors.

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.