Safety Insurance Group (NASDAQ:SAFT) Major Shareholder Sells $202,751.50 in Stock

Safety Insurance Group, Inc. (NASDAQ:SAFT) major shareholder Corp Srb sold 2,650 shares of Safety Insurance Group stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $76.51, for a total value of $202,751.50. Following the transaction, the insider owned 1,792,005 shares in the company, valued at approximately $137,106,302.55. The trade was a 0.15% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Safety Insurance Group Stock Performance

NASDAQ SAFT opened at $75.55 on Monday. 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’s fifty day moving average is $72.55 and its two-hundred day moving average is $74.84. The firm has a market capitalization of $1.11 billion, a P/E ratio of 17.86 and a beta of 0.21. Safety Insurance Group, Inc. has a fifty-two week low of $67.04 and a fifty-two week high of $81.49.

Safety Insurance Group (NASDAQ:SAFT) last issued 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). Safety Insurance Group had a return on equity of 6.31% and a net margin of 4.94%.The company had revenue of $314.67 million during the quarter, compared to analyst estimates of $315.01 million. On average, research analysts anticipate that Safety Insurance Group, Inc. will post 4.75 earnings per share for the current year.

Safety Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Monday, June 1st were given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 4.9%. The ex-dividend date was Monday, June 1st. Safety Insurance Group’s dividend payout ratio (DPR) is presently 87.00%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Allworth Financial LP raised its stake in shares of Safety Insurance Group by 74.8% in the 4th quarter. Allworth Financial LP now owns 388 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 166 shares during the period. Bayban purchased a new position in shares of Safety Insurance Group during the 4th quarter worth approximately $31,000. PNC Financial Services Group Inc. increased its holdings in Safety Insurance Group by 62.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 416 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 160 shares during the last quarter. Capital Advisors Ltd. LLC increased its holdings in Safety Insurance Group by 419.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 488 shares of the insurance provider’s stock valued at $38,000 after purchasing an additional 394 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in 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 purchasing an additional 431 shares during the period. Hedge funds and other institutional investors own 81.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SAFT shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Safety Insurance Group in a report on Friday, May 29th. Zacks Research raised shares of Safety Insurance Group to a “hold” rating in a research report on Wednesday, May 27th. Finally, Wall Street Zen upgraded Safety Insurance Group from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold”.

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.