Safety Insurance Group (NASDAQ:SAFT) Major Shareholder Corp Srb Sells 38,835 Shares

Safety Insurance Group, Inc. (NASDAQ:SAFT) major shareholder Corp Srb sold 38,835 shares of the firm’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $103.08, for a total value of $4,003,111.80. Following the completion of the transaction, the insider directly owned 1,713,739 shares in the company, valued at $176,652,216.12. This trade represents a 2.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large 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 Monday, July 27th, Corp Srb sold 1,240,352 shares of Safety Insurance Group stock. The shares were sold at an average price of $103.07, for a total value of $127,843,080.64.
• On Monday, July 13th, Corp Srb sold 34,272 shares of Safety Insurance Group stock. The shares were sold at an average price of $76.04, for a total value of $2,606,042.88.
• 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 transaction of $202,751.50.

Safety Insurance Group Price Performance

NASDAQ SAFT opened at $103.03 on Wednesday. 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 $103.50. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 24.36 and a beta of 0.21. The company’s 50 day moving average is $74.71 and its two-hundred day moving average is $75.13.

Safety Insurance Group (NASDAQ:SAFT) last posted its quarterly earnings results on Wednesday, May 6th. The insurance provider reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($2.17). The firm had revenue of $314.67 million during the quarter, compared to the consensus estimate of $315.01 million. Safety Insurance Group had a return on equity of 6.31% and a net margin of 4.94%. As a group, research analysts anticipate that Safety Insurance Group, Inc. will post 4.75 earnings per share for the current year.

Safety Insurance Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Monday, June 1st were issued a $0.92 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $3.68 annualized dividend and a yield of 3.6%. Safety Insurance Group’s dividend payout ratio is currently 87.00%.

Trending Headlines about Safety Insurance Group

Here are the key news stories impacting Safety Insurance Group this week:

• Positive Sentiment: The Mapfre buyout provides a substantial premium to Safety Insurance shareholders and is the primary catalyst behind the stock’s recent advance. Safety Insurance stock jumps 41% on Mapfre buyout deal
• Positive Sentiment: The proposed all-cash transaction offers shareholders a defined exit value, reducing exposure to Safety Insurance’s standalone operating results, including its most recent quarterly EPS shortfall.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Safety Insurance Group

A number of institutional investors and hedge funds have recently bought and sold shares of SAFT. Allworth Financial LP lifted 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 worth $30,000 after purchasing an additional 166 shares in the last quarter. Bayban purchased a new position in shares of Safety Insurance Group during the fourth quarter valued at about $31,000. PNC Financial Services Group Inc. increased its holdings in shares of 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 last quarter. Capital Advisors Ltd. LLC increased its holdings in shares of Safety Insurance Group by 419.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 488 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 394 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Safety Insurance Group by 1,317.1% in the second quarter. EverSource Wealth Advisors LLC now owns 496 shares of the insurance provider’s stock worth $39,000 after buying an additional 461 shares in the last quarter. 81.04% of the stock is currently owned by institutional investors.

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.