Safety Insurance Group (NASDAQ:SAFT) Hits New 52-Week Low – Time to Sell?

Safety Insurance Group, Inc. (NASDAQ:SAFT) hit a new 52-week low during trading on Monday . The company traded as low as $70.71 and last traded at $72.20, with a volume of 9436 shares. The stock had previously closed at $76.24.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Safety Insurance Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th.

Safety Insurance Group Price Performance

The stock has a 50-day moving average price of $77.87 and a 200 day moving average price of $80.66. The firm has a market cap of $1.09 billion, a PE ratio of 14.58 and a beta of 0.19.

Safety Insurance Group (NASDAQ:SAFT) last announced its quarterly earnings data on Tuesday, February 25th. The insurance provider reported $0.94 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.23). Safety Insurance Group had a return on equity of 6.35% and a net margin of 6.86%. The company had revenue of $286.72 million for the quarter.

Safety Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.90 per share. The ex-dividend date was Monday, March 3rd. This represents a $3.60 annualized dividend and a yield of 4.91%. Safety Insurance Group’s dividend payout ratio is presently 75.47%.

Institutional Investors Weigh In On Safety Insurance Group

Several institutional investors have recently bought and sold shares of SAFT. State Street Corp increased its holdings in Safety Insurance Group by 0.5% in the 3rd quarter. State Street Corp now owns 589,457 shares of the insurance provider’s stock valued at $48,206,000 after purchasing an additional 2,682 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of Safety Insurance Group by 57.4% during the 3rd quarter. Jane Street Group LLC now owns 26,641 shares of the insurance provider’s stock valued at $2,179,000 after buying an additional 9,713 shares during the period. XTX Topco Ltd purchased a new position in Safety Insurance Group in the 3rd quarter worth approximately $283,000. Y Intercept Hong Kong Ltd purchased a new position in Safety Insurance Group in the 3rd quarter worth approximately $723,000. Finally, Barclays PLC grew its position in Safety Insurance Group by 348.8% in the third quarter. Barclays PLC now owns 24,430 shares of the insurance provider’s stock valued at $1,997,000 after acquiring an additional 18,987 shares in the last quarter. 81.04% of the stock is currently owned by hedge funds and other institutional investors.

Safety Insurance Group Company Profile

Safety Insurance Group, Inc provides private passenger and commercial automobile, and homeowner insurance in the United States. The company’s private passenger automobile policies offer coverage for bodily injury and property damage to others, no-fault personal injury coverage for the insured/insured’s car occupants, and physical damage coverage for an insured’s own vehicle for collision or other perils.