Corp Srb Sells 11,487 Shares of Safety Insurance Group (NASDAQ:SAFT) Stock

Safety Insurance Group, Inc. (NASDAQ:SAFT) major shareholder Corp Srb sold 11,487 shares of the company’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $78.36, for a total value of $900,121.32. Following the completion of the transaction, the insider directly owned 1,821,510 shares of the company’s stock, valued at approximately $142,733,523.60. The trade was a 0.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, February 25th, Corp Srb sold 2,147 shares of Safety Insurance Group stock. The shares were sold at an average price of $78.29, for a total value of $168,088.63.
• On Tuesday, February 24th, Corp Srb sold 3,231 shares of Safety Insurance Group stock. The stock was sold at an average price of $77.14, for a total value of $249,239.34.
• On Monday, February 23rd, Corp Srb sold 4,089 shares of Safety Insurance Group stock. The shares were sold at an average price of $77.48, for a total value of $316,815.72.

Safety Insurance Group Stock Down 0.2%

Shares of NASDAQ SAFT opened at $77.63 on Friday. The company has a 50 day simple moving average of $77.72 and a 200 day simple moving average of $74.81. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.41 and a quick ratio of 0.41. Safety Insurance Group, Inc. has a 1 year low of $67.04 and a 1 year high of $84.20. The firm has a market cap of $1.16 billion, a PE ratio of 11.59 and a beta of 0.22.

Safety Insurance Group (NASDAQ:SAFT) last announced its quarterly earnings results on Wednesday, February 25th. The insurance provider reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.23. The firm had revenue of $319.34 million during the quarter. Safety Insurance Group had a net margin of 7.85% and a return on equity of 9.69%.

Safety Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Monday, March 2nd will be given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Monday, March 2nd. Safety Insurance Group’s dividend payout ratio (DPR) is currently 54.93%.

Hedge Funds Weigh In On Safety Insurance Group

Several institutional investors have recently added to or reduced their stakes in SAFT. XTX Topco Ltd grew its position in shares of 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 during the period. Amalgamated Bank boosted its stake in Safety Insurance Group by 3.5% during the third quarter. Amalgamated Bank now owns 4,377 shares of the insurance provider’s stock worth $309,000 after acquiring an additional 150 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Safety Insurance Group by 0.6% during 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. grew its holdings in Safety Insurance Group by 62.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 416 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 160 shares during the period. Finally, Allworth Financial LP grew its holdings in Safety Insurance Group by 74.8% in the fourth quarter. Allworth Financial LP now owns 388 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 166 shares during the period. 81.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Safety Insurance Group in a research note on Thursday, January 22nd. Wall Street Zen upgraded shares of Safety Insurance Group from a “hold” rating to a “buy” rating in a report on Saturday. 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 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.