Safety Insurance Group (NASDAQ:SAFT) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Safety Insurance Group, Inc. (NASDAQ:SAFT) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $74.96 and traded as high as $75.44. Safety Insurance Group shares last traded at $75.21, with a volume of 415,408 shares changing hands.

Analyst Upgrades and Downgrades

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

Safety Insurance Group Price Performance

The stock has a 50 day moving average of $72.46 and a two-hundred day moving average of $74.96. 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 firm has a market capitalization of $1.10 billion, a P/E ratio of 17.78 and a beta of 0.21.

Safety Insurance Group (NASDAQ:SAFT) last announced 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 for the quarter, compared to the consensus estimate of $315.01 million. Sell-side analysts predict that Safety Insurance Group, Inc. will post 4.75 earnings per share for the current fiscal year.

Safety Insurance Group Announces Dividend

The company also recently disclosed 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 4.9%. The ex-dividend date was Monday, June 1st. Safety Insurance Group’s payout ratio is presently 87.00%.

Institutional Trading of Safety Insurance Group

Large investors have recently modified their holdings of the company. Allworth Financial LP grew its stake in 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 buying an additional 166 shares during the last quarter. Bayban bought a new stake in Safety Insurance Group during the fourth quarter valued at about $31,000. PNC Financial Services Group Inc. boosted its holdings in Safety Insurance Group by 62.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 416 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 160 shares during the period. Capital Advisors Ltd. LLC boosted its holdings in Safety Insurance Group by 419.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 488 shares of the insurance provider’s stock valued at $38,000 after acquiring an additional 394 shares during the period. Finally, Parallel Advisors LLC grew its position 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 purchasing an additional 431 shares during the last quarter. 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.