Safety Insurance Group (NASDAQ:SAFT) Major Shareholder Sells $249,239.34 in Stock

Safety Insurance Group, Inc. (NASDAQ:SAFT) major shareholder Corp Srb sold 3,231 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $77.14, for a total value of $249,239.34. Following the completion of the sale, the insider directly owned 1,834,964 shares in the company, valued at approximately $141,549,122.96. The trade was a 0.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% 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 Thursday, February 26th, Corp Srb sold 11,487 shares of Safety Insurance Group stock. The stock was sold at an average price of $78.36, for a total value of $900,121.32.
• On Wednesday, February 25th, Corp Srb sold 2,147 shares of Safety Insurance Group stock. The stock was sold at an average price of $78.29, for a total transaction of $168,088.63.
• 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 transaction of $316,815.72.

Safety Insurance Group Trading Down 0.2%

Shares of Safety Insurance Group stock opened at $77.63 on Friday. 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. The company has a 50 day simple moving average of $77.72 and a two-hundred day simple moving average of $74.80.

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

Safety Insurance Group Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SAFT. Weiss Ratings reissued a “hold (c)” rating on shares of Safety Insurance Group in a report on Thursday, January 22nd. Wall Street Zen upgraded shares of Safety Insurance Group from a “hold” rating to a “buy” rating in a research report on Saturday. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Safety Insurance Group currently has a consensus rating of “Hold”.

Institutional Investors Weigh In On Safety Insurance Group

Several institutional investors have recently bought and sold shares of the stock. Dean Capital Management increased its stake in Safety Insurance Group by 420.1% in the 4th quarter. Dean Capital Management now owns 33,261 shares of the insurance provider’s stock worth $2,591,000 after purchasing an additional 26,866 shares during the period. Mercer Global Advisors Inc. ADV increased its stake in shares of Safety Insurance Group by 36.3% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 9,559 shares of the insurance provider’s stock worth $745,000 after buying an additional 2,546 shares during the period. XTX Topco Ltd increased its stake in shares of Safety Insurance Group by 2.8% in the fourth 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. Engineers Gate Manager LP raised its holdings in Safety Insurance Group by 3.3% during the 4th quarter. Engineers Gate Manager LP now owns 9,004 shares of the insurance provider’s stock valued at $702,000 after buying an additional 287 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in Safety Insurance Group by 62.6% during the 4th quarter. AQR Capital Management LLC now owns 304,724 shares of the insurance provider’s stock valued at $23,741,000 after buying an additional 117,261 shares during the period. 81.04% of the stock is currently owned by hedge funds and other institutional investors.

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.