Safety Insurance Group, Inc. (NASDAQ:SAFT) Short Interest Update

Safety Insurance Group, Inc. (NASDAQ:SAFT) was the target of a significant decline in short interest in December. As of December 31st, there was short interest totaling 89,992 shares, a decline of 19.8% from the December 15th total of 112,156 shares. Based on an average daily trading volume, of 82,289 shares, the days-to-cover ratio is currently 1.1 days. Approximately 0.6% of the company’s stock are sold short. Approximately 0.6% of the company’s stock are sold short. Based on an average daily trading volume, of 82,289 shares, the days-to-cover ratio is currently 1.1 days.

Institutional Investors Weigh In On Safety Insurance Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC increased its holdings in shares of Safety Insurance Group by 1.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 28,059 shares of the insurance provider’s stock valued at $2,186,000 after acquiring an additional 447 shares during the period. SG Americas Securities LLC increased its stake in Safety Insurance Group by 2.2% in the fourth quarter. SG Americas Securities LLC now owns 8,748 shares of the insurance provider’s stock valued at $682,000 after purchasing an additional 185 shares during the period. Diversified Trust Co. raised its holdings in shares of Safety Insurance Group by 126.0% in the fourth quarter. Diversified Trust Co. now owns 7,467 shares of the insurance provider’s stock valued at $582,000 after buying an additional 4,163 shares during the last quarter. TABR Capital Management LLC acquired a new stake in shares of Safety Insurance Group during the fourth quarter worth about $2,935,000. Finally, Brave Asset Management Inc. purchased a new position in shares of Safety Insurance Group during the fourth quarter worth about $203,000. Hedge funds and other institutional investors own 81.04% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Safety Insurance Group in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Safety Insurance Group currently has an average rating of “Hold”.

Safety Insurance Group Stock Down 0.6%

Shares of Safety Insurance Group stock traded down $0.47 during trading hours on Monday, hitting $76.02. The company had a trading volume of 62,868 shares, compared to its average volume of 67,407. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.41 and a quick ratio of 0.41. The company’s 50-day moving average is $76.95 and its two-hundred day moving average is $73.59. The company has a market cap of $1.13 billion, a P/E ratio of 12.91 and a beta of 0.23. Safety Insurance Group has a twelve month low of $67.04 and a twelve month high of $84.20.

Safety Insurance Group (NASDAQ:SAFT) last announced its quarterly earnings results on Monday, November 3rd. The insurance provider reported $1.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.32). The company had revenue of $323.21 million during the quarter. Safety Insurance Group had a net margin of 7.09% and a return on equity of 8.85%.

Safety Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Monday, December 1st. Safety Insurance Group’s dividend payout ratio (DPR) is currently 62.48%.

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.