Safety Insurance Group (NASDAQ:SAFT) Major Shareholder Sells $316,815.72 in Stock

Safety Insurance Group, Inc. (NASDAQ:SAFT) major shareholder Corp Srb sold 4,089 shares of the stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $77.48, for a total value of $316,815.72. Following the sale, the insider owned 1,838,195 shares of the company’s stock, valued at approximately $142,423,348.60. The trade was a 0.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own more than 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 Tuesday, February 24th, Corp Srb sold 3,231 shares of Safety Insurance Group stock. The shares were sold at an average price of $77.14, for a total value of $249,239.34.

Safety Insurance Group Stock Up 1.3%

Shares of Safety Insurance Group stock traded up $1.02 during trading on Wednesday, reaching $78.46. 61,248 shares of the company traded hands, compared to its average volume of 74,555. The firm has a market capitalization of $1.17 billion, a PE ratio of 13.32 and a beta of 0.22. Safety Insurance Group, Inc. has a 1-year low of $67.04 and a 1-year high of $84.20. The company has a 50 day moving average price of $77.80 and a 200-day moving average price of $74.72. 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 (NASDAQ:SAFT) last posted its quarterly earnings results on Wednesday, February 25th. The insurance provider reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.23. Safety Insurance Group had a return on equity of 8.85% and a net margin of 7.09%.

Safety Insurance Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Monday, March 2nd will be given 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 dividend yield of 4.7%. Safety Insurance Group’s payout ratio is presently 62.48%.

Institutional Investors Weigh In On Safety Insurance Group

Several large investors have recently added to or reduced their stakes in SAFT. Allworth Financial LP lifted its holdings in shares of Safety Insurance Group by 74.8% during the 4th quarter. Allworth Financial LP now owns 388 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 166 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Safety Insurance Group by 62.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 416 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 160 shares during the last quarter. Blue Trust Inc. bought a new position in shares of Safety Insurance Group during the 3rd quarter valued at $35,000. Capital Advisors Ltd. LLC raised its position in Safety Insurance Group by 419.1% in the 4th 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 period. Finally, Parallel Advisors LLC lifted its stake in Safety Insurance Group by 653.0% in the fourth quarter. Parallel Advisors LLC now owns 497 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 431 shares during the last quarter. Institutional investors own 81.04% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Safety Insurance Group in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Safety Insurance Group presently has an average 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.