Corp Srb Sells 2,650 Shares of Safety Insurance Group (NASDAQ:SAFT) Stock

Safety Insurance Group, Inc. (NASDAQ:SAFT) major shareholder Corp Srb sold 2,650 shares of the stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $76.51, for a total value of $202,751.50. Following the completion of the transaction, the insider directly owned 1,792,005 shares of the company’s stock, valued at $137,106,302.55. This represents a 0.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Safety Insurance Group Stock Down 0.5%

SAFT stock traded down $0.38 during midday trading on Friday, hitting $75.55. 60,598 shares of the company’s stock were exchanged, compared to its average volume of 131,479. 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, Inc. has a 12-month low of $67.04 and a 12-month high of $81.49. The firm has a 50 day moving average price of $72.55 and a 200-day moving average price of $74.86. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 17.86 and a beta of 0.21.

Safety Insurance Group (NASDAQ:SAFT) last released its earnings results on Wednesday, May 6th. The insurance provider reported ($0.72) EPS for the quarter, missing the consensus estimate of $1.45 by ($2.17). Safety Insurance Group had a net margin of 4.94% and a return on equity of 6.31%. The business had revenue of $314.67 million for the quarter, compared to analysts’ expectations of $315.01 million. On average, analysts anticipate that Safety Insurance Group, Inc. will post 4.75 EPS for the current year.

Safety Insurance Group Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on SAFT shares. 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. Zacks Research upgraded Safety Insurance Group to a “hold” rating in a research note on Wednesday, May 27th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Safety Insurance Group in a research note on Friday, May 29th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

Hedge Funds Weigh In On Safety Insurance Group

A number of hedge funds have recently added to or reduced their stakes in SAFT. XTX Topco Ltd grew its holdings in Safety Insurance Group by 2.8% during the fourth quarter. XTX Topco Ltd now owns 4,745 shares of the insurance provider’s stock worth $370,000 after acquiring an additional 127 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in 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 buying an additional 152 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Safety Insurance Group by 62.5% during the 4th 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 last quarter. Allworth Financial LP grew its holdings 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 worth $30,000 after acquiring an additional 166 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in shares of Safety Insurance Group by 1.2% during the second quarter. CANADA LIFE ASSURANCE Co now owns 14,018 shares of the insurance provider’s stock valued at $1,112,000 after purchasing an additional 169 shares during the last quarter. Institutional investors and hedge funds own 81.04% of the company’s stock.

Safety Insurance Group Company Profile

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.