Insider Selling: Safety Insurance Group (NASDAQ:SAFT) Major Shareholder Sells $2,606,042.88 in Stock

Safety Insurance Group, Inc. (NASDAQ:SAFT) major shareholder Corp Srb sold 34,272 shares of the firm’s stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $76.04, for a total transaction of $2,606,042.88. Following the completion of the transaction, the insider owned 1,757,733 shares of the company’s stock, valued at approximately $133,658,017.32. The trade was a 1.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 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 shares were sold at an average price of $76.51, for a total value of $202,751.50.

Safety Insurance Group Trading Down 0.4%

NASDAQ:SAFT opened at $74.14 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.39 and a quick ratio of 0.39. Safety Insurance Group, Inc. has a fifty-two week low of $67.04 and a fifty-two week high of $81.49. The stock’s 50-day moving average is $72.64 and its two-hundred day moving average is $74.71. The stock has a market cap of $1.09 billion, a PE ratio of 17.53 and a beta of 0.21.

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 company had revenue of $314.67 million during the quarter, compared to analyst estimates 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, equities research analysts forecast that Safety Insurance Group, Inc. will post 4.75 earnings per share for the current fiscal year.

Safety Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Monday, June 1st were paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 5.0%. The ex-dividend date was Monday, June 1st. Safety Insurance Group’s dividend payout ratio is 87.00%.

Analyst Ratings Changes

A number of brokerages recently weighed in on SAFT. Wall Street Zen raised Safety Insurance Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Zacks Research upgraded Safety Insurance Group to a “hold” rating in a report on Wednesday, May 27th. Finally, Weiss Ratings reissued 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, Based on data from MarketBeat, Safety Insurance Group presently has a consensus rating of “Hold”.

Institutional Trading of Safety Insurance Group

Several hedge funds have recently added to or reduced their stakes in SAFT. Royal Bank of Canada increased its position in Safety Insurance Group by 9.9% during the first quarter. Royal Bank of Canada now owns 10,148 shares of the insurance provider’s stock worth $801,000 after acquiring an additional 914 shares during the period. AQR Capital Management LLC boosted its holdings in Safety Insurance Group by 19.7% in the 1st quarter. AQR Capital Management LLC now owns 34,093 shares of the insurance provider’s stock valued at $2,689,000 after purchasing an additional 5,619 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Safety Insurance Group by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,734 shares of the insurance provider’s stock worth $689,000 after purchasing an additional 389 shares during the last quarter. Millennium Management LLC grew its position in Safety Insurance Group by 284.9% in the 1st quarter. Millennium Management LLC now owns 85,761 shares of the insurance provider’s stock worth $6,765,000 after purchasing an additional 63,480 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Safety Insurance Group by 9.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 33,747 shares of the insurance provider’s stock worth $2,662,000 after purchasing an additional 3,011 shares during the period. Institutional investors 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.