Corp Srb Sells 34,272 Shares of Safety Insurance Group (NASDAQ:SAFT) Stock

Safety Insurance Group, Inc. (NASDAQ:SAFT) major shareholder Corp Srb sold 34,272 shares of Safety Insurance Group stock in a transaction on Monday, July 13th. The shares were sold at an average price of $76.04, for a total value of $2,606,042.88. Following the completion of the sale, the insider owned 1,757,733 shares in the company, valued at $133,658,017.32. This represents a 1.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Thursday, July 9th, Corp Srb sold 2,650 shares of Safety Insurance Group stock. The stock was sold at an average price of $76.51, for a total value of $202,751.50.

Safety Insurance Group Stock Up 1.8%

Shares of NASDAQ:SAFT opened at $74.43 on Friday. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 17.60 and a beta of 0.21. Safety Insurance Group, Inc. has a 12-month low of $67.04 and a 12-month high of $81.49. The business has a 50-day moving average price of $72.58 and a 200 day moving average price of $74.71. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.06.

Safety Insurance Group (NASDAQ:SAFT) last posted its earnings results on Wednesday, May 6th. The insurance provider reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of $1.45 by ($2.17). The company had revenue of $314.67 million during the quarter, compared to analyst estimates of $315.01 million. Safety Insurance Group had a net margin of 4.94% and a return on equity of 6.31%. Sell-side analysts expect that Safety Insurance Group, Inc. will post 4.75 EPS for the current year.

Safety Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Monday, June 1st were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 4.9%. The ex-dividend date was Monday, June 1st. Safety Insurance Group’s dividend payout ratio is currently 87.00%.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. XTX Topco Ltd lifted its holdings in Safety Insurance Group by 2.8% during the 4th quarter. XTX Topco Ltd now owns 4,745 shares of the insurance provider’s stock worth $370,000 after buying an additional 127 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Safety Insurance Group by 0.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 23,753 shares of the insurance provider’s stock worth $1,851,000 after acquiring an additional 152 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of 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 worth $32,000 after acquiring an additional 160 shares during the period. Allworth Financial LP increased its position in shares of Safety Insurance Group by 74.8% during the fourth quarter. Allworth Financial LP now owns 388 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 166 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its stake in shares of Safety Insurance Group by 1.2% in the second quarter. CANADA LIFE ASSURANCE Co now owns 14,018 shares of the insurance provider’s stock valued at $1,112,000 after acquiring an additional 169 shares in the last quarter. Institutional investors and hedge funds own 81.04% of the company’s stock.

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.