Safety Insurance Group (NASDAQ:SAFT) Major Shareholder Corp Srb Sells 34,272 Shares of Stock

Safety Insurance Group, Inc. (NASDAQ:SAFT) major shareholder Corp Srb sold 34,272 shares of the company’s stock in a transaction that occurred on 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 sale, the insider directly owned 1,757,733 shares of the company’s stock, valued at approximately $133,658,017.32. This trade represents a 1.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Major 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 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 transaction of $202,751.50.

Safety Insurance Group Stock Down 2.3%

Shares of SAFT opened at $73.11 on Thursday. The firm has a 50 day simple moving average of $72.55 and a two-hundred day simple moving average of $74.74. 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 one year low of $67.04 and a one year high of $81.49. The company has a market cap of $1.07 billion, a P/E ratio of 17.28 and a beta of 0.21.

Safety Insurance Group (NASDAQ:SAFT) last issued its 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). Safety Insurance Group had a net margin of 4.94% and a return on equity of 6.31%. The business had revenue of $314.67 million during the quarter, compared to analyst estimates of $315.01 million. Research analysts forecast that Safety Insurance Group, Inc. will post 4.75 EPS for the current fiscal year.

Safety Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Monday, June 1st were given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date was Monday, June 1st. Safety Insurance Group’s payout ratio is currently 87.00%.

Hedge Funds Weigh In On Safety Insurance Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE boosted its stake in shares of Safety Insurance Group by 5.8% during the first quarter. Bank of America Corp DE now owns 24,877 shares of the insurance provider’s stock valued at $1,807,000 after purchasing an additional 1,356 shares in the last quarter. Quantinno Capital Management LP increased its stake in shares of Safety Insurance Group by 16.8% in the first quarter. Quantinno Capital Management LP now owns 19,525 shares of the insurance provider’s stock valued at $1,418,000 after buying an additional 2,813 shares during the period. Renaissance Technologies LLC raised its holdings in Safety Insurance Group by 0.3% in the 1st quarter. Renaissance Technologies LLC now owns 140,400 shares of the insurance provider’s stock valued at $10,199,000 after buying an additional 400 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Safety Insurance Group by 44.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 67,915 shares of the insurance provider’s stock valued at $4,933,000 after buying an additional 21,018 shares during the last quarter. Finally, Sei Investments Co. boosted its position in Safety Insurance Group by 23.9% during the 1st quarter. Sei Investments Co. now owns 3,189 shares of the insurance provider’s stock worth $232,000 after buying an additional 615 shares during the period. Institutional investors and hedge funds own 81.04% of the company’s stock.

Analysts Set New Price Targets

SAFT has been the subject of a number of research reports. Wall Street Zen raised shares of Safety Insurance Group from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Safety Insurance Group in a report on Friday, May 29th. Finally, Zacks Research upgraded shares of Safety Insurance Group to a “hold” rating in a research report on Wednesday, May 27th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus 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.