Safety Insurance Group (NASDAQ:SAFT) Major Shareholder Corp Srb Sells 1,240,352 Shares of Stock

Safety Insurance Group, Inc. (NASDAQ:SAFT) major shareholder Corp Srb sold 1,240,352 shares of the firm’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $103.07, for a total value of $127,843,080.64. Following the transaction, the insider owned 473,387 shares in the company, valued at approximately $48,791,998.09. This trade represents a 72.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Friday, July 24th, Corp Srb sold 38,835 shares of Safety Insurance Group stock. The shares were sold at an average price of $103.08, for a total value of $4,003,111.80.
• 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 transaction of $2,606,042.88.
• 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 Up 0.0%

Safety Insurance Group stock opened at $103.03 on Wednesday. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 24.36 and a beta of 0.21. The company’s 50 day simple moving average is $74.71 and its 200 day simple moving average is $75.13. 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 $103.50.

Safety Insurance Group (NASDAQ:SAFT) last issued its earnings results on Wednesday, May 6th. The insurance provider reported ($0.72) EPS for the quarter, missing the consensus estimate 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 net margin of 4.94% and a return on equity of 6.31%. As a group, sell-side analysts anticipate that Safety Insurance Group, Inc. will post 4.75 EPS for the current year.

Safety Insurance Group Announces Dividend

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

Analyst Ratings Changes

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

Safety Insurance Group News Roundup

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.

Hedge Funds Weigh In On Safety Insurance Group

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Safety Insurance Group by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 1,661,343 shares of the insurance provider’s stock valued at $129,435,000 after purchasing an additional 29,511 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Safety Insurance Group by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 711,806 shares of the insurance provider’s stock worth $51,708,000 after buying an additional 3,319 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Safety Insurance Group by 353.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 306,554 shares of the insurance provider’s stock valued at $23,884,000 after buying an additional 238,946 shares during the last quarter. AQR Capital Management LLC raised its position in Safety Insurance Group by 62.6% in 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 last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its stake in Safety Insurance Group by 20.7% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 300,000 shares of the insurance provider’s stock valued at $23,373,000 after acquiring an additional 51,400 shares in the last quarter. 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.