Safety Insurance Group (NASDAQ:SAFT) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Safety Insurance Group, Inc. (NASDAQ:SAFT) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $74.45 and traded as high as $77.09. Safety Insurance Group shares last traded at $76.55, with a volume of 117,144 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Safety Insurance Group in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of Safety Insurance Group from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold”.

Safety Insurance Group Stock Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.42 and a current ratio of 0.42. The company has a market capitalization of $1.14 billion, a P/E ratio of 13.41 and a beta of 0.26. The business has a 50 day moving average of $71.77 and a 200-day moving average of $74.45.

Safety Insurance Group (NASDAQ:SAFT) last issued its earnings results on Monday, November 3rd. The insurance provider reported $1.48 EPS for the quarter, missing the consensus estimate of $1.80 by ($0.32). The company had revenue of $323.21 million during the quarter. Safety Insurance Group had a return on equity of 8.34% and a net margin of 7.07%.

Safety Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Monday, December 1st. Safety Insurance Group’s dividend payout ratio (DPR) is 62.48%.

Insider Buying and Selling

In other news, Director Dennis J. Langwell bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The shares were acquired at an average price of $72.39 per share, with a total value of $144,780.00. Following the acquisition, the director owned 8,000 shares of the company’s stock, valued at approximately $579,120. The trade was a 33.33% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in shares of Safety Insurance Group by 67.9% in the second quarter. JPMorgan Chase & Co. now owns 310,072 shares of the insurance provider’s stock worth $24,617,000 after purchasing an additional 125,398 shares during the period. Adage Capital Partners GP L.L.C. grew its position in Safety Insurance Group by 10.0% during the second quarter. Adage Capital Partners GP L.L.C. now owns 238,600 shares of the insurance provider’s stock worth $18,942,000 after buying an additional 21,600 shares in the last quarter. Bank of New York Mellon Corp grew its position in Safety Insurance Group by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 209,828 shares of the insurance provider’s stock worth $16,658,000 after buying an additional 1,172 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Safety Insurance Group by 224.8% in the 3rd quarter. Millennium Management LLC now owns 139,755 shares of the insurance provider’s stock valued at $9,879,000 after acquiring an additional 96,728 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Safety Insurance Group by 0.3% during the 3rd quarter. Invesco Ltd. now owns 126,054 shares of the insurance provider’s stock valued at $8,911,000 after acquiring an additional 373 shares during the last quarter. 81.04% of the stock is currently owned by hedge funds and other institutional investors.

About Safety Insurance Group

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.